JOHANNESBURG, Aug 15 (Reuters) – South Africa’s Nedbank Group has agreed to sell its 21.2% stake in pan-African lender Ecobank to the private investment vehicle of financier Alain Nkontchou for $100 million, it said on Friday.
Nedbank said this month that it wanted to sell the stake, citing regulatory uncertainties, potential higher capital requirements and plans to focus on Southern and East Africa.