Nedbank ups stake in Ecobank despite boardroom turmoil - Euromoney

▤ Summary

Nedbank increased its stake in Ecobank to 20% through the conversion of existing debt into equity. QNB also raised its position, which added to takeover speculation and shifted the shareholder balance in the pan-African bank. Nedbank says it has no plan to seek control and views the alliance as a long-term strategic partnership. The move strengthens Ecobank’s capital base and board ties while creating more room for cross-border collaboration across the continent. The article also highlights governance concerns at Ecobank, but says Nedbank stayed comfortable with management execution.

▦ Linked Companies