Latest news with #EcobankTransnationalIncorporated
IOL News
2 days ago
- Business
- IOL News
Nedbank sells 21% stake in Ecobank for R1. 8 billion
Nedbank has announced that it has "reached an agreement to sell its 21.2% shareholding in Ecobank Transnational Incorporated (ETI) to Bosquet Investments Limited Image: Karen Sandison / Independent Newspapers Nedbank has announced that it has "reached an agreement to sell its 21.2% shareholding in Ecobank Transnational Incorporated (ETI) to Bosquet Investments Limited (Bosquet Investments) for a purchase consideration of US$100 million (R1.8 billion)" . Enko Capital is an African-focused asset management group established in 2008. The group manages alternative and traditional investment funds across Africa and has assets under management of Bosquet Investments is the private investment vehicle of Alain Nkontchou, the Managing Partner and co-founder of Enko Capital Management LLP ('Enko Capital'). The bank confirmed the news in a statement to the media on Friday morning, saying the decision "follows the bank's strategic review of the group's financial investment ETI, which as from 30 June 2025, was classified as a non-current asset held for sale in terms of IFRS 5". Nedbank Group Chief Executive Jason Quinn said, "the bank was pleased to have reached this milestone following the board's approval to dispose of the asset". 'Nedbank's decision to sell its ETI investment follows a detailed evaluation of the strategic alignment, financial performance, and long-term value proposition of the investment and is consistent with Nedbank's ongoing efforts to optimise its capital allocation and focus on core growth areas. "This marks the conclusion of a significant chapter in Nedbank's journey with ETI spanning many years" Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Quinn added that Nedbank remains committed to its African growth strategy but will now concentrate its efforts in regions where it has operational control. The proposed disposal is subject only to the receipt of the requisite regulatory approvals in the relevant jurisdictions, with no other conditions precedent. The transaction is expected to be completed in the fourth quarter of 2025. 'The sale represents a reset of Nedbank's strategy on the rest of the African continent with a clear focus on the SADC and East Africa regions in businesses Nedbank Group owns and controls, and areas where we can play to our strengths.' IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
Zawya
01-05-2025
- Business
- Zawya
Nigeria: Bears persists at NGX as ASI dips by 0.1%
Bearish sentiments persisted in the local stock market as sell pressures in Guaranty Trust Holding Company and Ecobank Transnational Incorporated caused a 0.1 percent decline in the benchmark index to 105,800.85 basis points. Accordingly, the Month-to-Date and Year-to-Date returns moderated to +0.1 percent and +2.8 percent, respectively. As measured by market breadth, market sentiment was positive, as 38 tickers gained relative to 24 losers. On the performance board, University Press and Vitafoam led the gainers having appreciated in share value by 10 percent, respectively; while Ecobank Transnational Incorporated and International Breweries recorded the most significant losses of the day as their respective share prices dipped by 10 percent. Sectoral performance was mixed as the Consumer Goods and Banking indices declined by 2.0 percent and 1.5 percent, respectively; while the Insurance index closed higher having added 0.9 percent. The Industrial Goods and Oil & Gas indices closed flat. The total volume of trades declined by 46.4 percent to 392.99 million units, valued at N12.76 billion, and exchanged in 17,519 deals. United Bank for Africa was the most traded stock by volume at 38.86 million units, while MTN Nigeria was the most traded stock by value at N3.61 billion. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
20-03-2025
- Business
- Zawya
Ecobank named Africa's Best Bank for Trade Finance in Global Finance Awards
Ecobank Group ( the leading private pan-African financial services group with unrivalled African expertise, is proud to be named as the Best Trade Finance Provider Bank in Africa, at the Global Finance Trade Finance&Supply Chain Finance Awards 2025. Additionally, our affiliates in Burkina Faso, Côte d'Ivoire and Rwanda have also been recognised as the Best Trade Finance Provider in their respective markets. Michael Larbie, Group Executive Corporate and Investment Banking, said, 'We are focussed on delivering a wide range of trade finance solutions and excellent trade services to our clients, leveraging the African Continental Free Trade Area's single market. This is exemplified by our innovative 'Ecobank Single Market Trade Hub', which digitally connects buyers and suppliers across the continent and a gateway to our comprehensive suite of trade finance products and services. At Ecobank, we are relentless in our efforts to be the bank of choice for Africans and their businesses and in our absolute commitment to delivering a Better Africa'. Ecobank provides comprehensive trade solutions to its customers using various payment methods to facilitate cross-border and domestic trade throughout and beyond its network of 35 sub-Saharan African countries. It offers unique intra-Africa trade solutions, enabling its customers to settle their domestic and international trade transactions efficiently while mitigating payment risks. The bank works closely with clients in reviewing key aspects of transaction processing, including Settlement, Financing, Risk Mitigation, Credit Enhancement and applicable Exchange Control Regulations. Ecobank's trade products and solutions are designed around three broad areas: structured trade and commodity finance; trade services; and supply chain finance. The judges for the Global Finance awards selected Ecobank as the trade finance provider award winner based on input from industry analysts, corporate executives and technology experts, and on objective and subjective factors such as Ecobank's trade-related transaction volume, the scope of its global coverage, customer service, competitive pricing, risk management and innovative products, services and technology. Ecobank was presented with its trophies by Global Finance at the awards ceremony during the BAFT Europe Bank-To-Bank Forum in Amsterdam on 12 March 2025. Distributed by APO Group on behalf of Ecobank Transnational Incorporated. Media Contacts: Ecobank Transnational Incorporated Christiane Bossom, Group Communications, Ecobank Transnational Incorporated Email: groupcorporatecomms@ Tel: +228 22 21 03 03 Web: About Ecobank: Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs over 14,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit
