ADVERTISEMENT
  • About
  • Advertise
  • Careers
  • Contact Us
Tuesday, August 5, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

Nedbank to Sell Ecobank Stake, Shifts Focus to Southern and East Africa

by Latifat Fashina
August 5, 2025
in Finance
0
Nedbank and Small Merchants
HSBC NEDBANK

HSBC NEDBANK

UBA
Advertisements

Nedbank, the South African financial services group, has announced plans to sell its 21.2% stake in Ecobank Transnational Incorporated (ETI) as it sharpens focus on its operations in Southern and East Africa.

Chief Executive Officer Jason Quinn said: “We would prefer to own or control all of the operations that we’re involved in. You can execute strategy much more deliberately when you own businesses.

The board has approved a formal plan to dispose of the investment, and we are currently engaging interested parties and, if a sale is concluded, it will be a clean deal.”

Nedbank noted that Ecobank’s operations in Central and West Africa have been negatively impacted by foreign exchange volatility since it acquired the stake in 2014.

Since then, it has earned R6.8 billion ($378.6 million) in associate income, but only R400 million has been realised through dividends. The bank said the Ecobank investment currently carries a value of R1.8 billion, with a market value of R1.9 billion.

MTN ADS

The lender added that its board and management weighed the risks of holding the stake, citing regulatory uncertainty, the potential need for additional capital to avoid shareholding dilution, and the exit of several South African clients from the region, which has limited cross-selling opportunities.

Nedbank became Ecobank’s largest shareholder in 2008 through a $500 million investment, formalising the partnership in 2014. The planned sale will mark the end of a 17-year strategic alliance between the two banks.

Loading

MTN ADS

Author

  • Latifat Fashina
    Latifat Fashina

    LATIFAT FASHINA is the Business/Finance Reporter at Techeconomy. She can be reached via: latifat.fashina@techeconomy.ng

    View all posts
0Shares

MTN ADS
Tags: EcobankNedbank
Latifat Fashina

Latifat Fashina

LATIFAT FASHINA is the Business/Finance Reporter at Techeconomy. She can be reached via: latifat.fashina@techeconomy.ng

Next Post
Meta, Oracle, Nvidia and Google Founders Add $32.2bn in a Day

Meta, Oracle, Nvidia and Google Founders Add $32.2bn in a Day as AI, Cloud Boom Reshapes Global Wealth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

NCC and NITRA

NCC Partners NITRA On ICT Growth Conference 4.0

1 year ago
Fidelity Cuts Elon Musk’s X Valuation to $9.4 Billion, a 78% Drop Since Acquisition

Fidelity Cuts Elon Musk’s X Valuation to $9.4 Billion, a 78% Drop Since Acquisition

10 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.