Cameroonian banker Alain Nkontchou's Enko gets $30 million to scale Africa's private credit
Enko Capital secured $30 million from South Africa’s PIC to expand private credit for mid-sized African firms, boosting financing options across key sectors.
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Enko Capital secured $30 million from South Africa’s PIC to expand private credit for mid-sized African firms, boosting financing options across key sectors.
Ecobank has secured a $12 million trade finance guarantee to strengthen small business financing and food security in Chad and across Africa.
Enko Capital, led by Cameroonian financier Alain Nkontchou, raised $100 million to boost private credit access for mid-sized African firms.
Alain Nkontchou invests $100 million to become Ecobank’s largest shareholder with 5.95 billion shares and greater influence on its future.
The deal, to be executed through Nkontchou’s private investment firm, Bosquet Investments, will mark the end of Nedbank’s 17-year partnership with Ecobank.
Under Alain Nkontchou’s leadership, total comprehensive income surged significantly, rising from N7.06 billion ($15.54 million) to N448.72 billion ($123.76 million).
Nkontchou is one of the richest investors on the Nigerian Exchange and one of Cameroon’s wealthiest banking executives.
Nkontchou is the chairman of Ecobank.
The company’s market capitalization is presently $471 million.
Ecobank is one of West and Central Africa’s leading independent regional banking groups.
Nkontchou, who is the chairman of the Togo-based financial services company, holds 0.98 percent of Ecobank.
Nkontchou controls a beneficial 0.98-percent stake in the bank.