ETI Group Chairman, Alain Nkontchou Buys N1.5bn Shares Via Proxy

Ecobank Transnational Incorporated's (ETI) Group Chairman, Alian Nkontchou, has purchased an additional 96,515,229 shares worth N1.5 billion through proxy.

This share purchase was disclosed via a notice of Directors Dealings signed by Company Secretary Madibinet Cisse and sent to the Nigerian Exchange Limited.

Increase in stake to 2.84%

ETI revealed that Mr Alian Nkontchou purchased the shares via ENKO OPPORTUNITY GROWTH FUND LTD (a company related to him).

The 96,515,229 units of ETI shares were bought between August 1st,2023, and September 29th, 2023, at an average price of N15.55 per share.

This acquisition increased his number of direct and indirect shares from 418,977,516 units as of 30th June 2023 (based on ETI’s financial report), to 515,492,745 units or the equivalent of 2.84% of ETI’s total shareholding.

Brief Profile of Alian Nkontchou

Mr Alian Nkontchou is the Managing Partner and co-founder of Enko Capital Management LLP, an asset management company based in London and Johannesburg that focuses on African investment opportunities.

Alain was an adviser of Laurent Perrier, a champagne company in France, having also been a non-executive director from 1999 to 2009.

He previously worked in London between 1995 and 2008 as Managing Director of Credit Suisse’s Global Macro Trading Group and also with JP Morgan Chase & Co.

Between 1989 and 1994, he worked with Chemical Bank in Paris and New York, where he became Vice-President and head of Trading and Sales.

Alain has a track record of business success, having generated significant dollar revenues for each of these bulge-bracket institutions.

Alain has an MSc. in Electrical Engineering from Supelec and P.M. Curie University, Paris, and an MSc in Finance and Accounting from ESCP (Ecole Supérieure de Commerce de Paris).

More on ETI

Ecobank Transnational Incorporated (ETI) released its 2023 second-quarter results showing a 63% increase in pre-tax profits to N92.52 billion.

The increase in second-quarter profits helped its half-year profit before tax to rise by 38% to N150.31 billion compared to N108.96 billion same period last year.