Enko Capital-Oronte consortium agrees to buy Société Générale Mauritanie

The Enko Capital-Oronte consortium, a key player in African finance, has announced the signing of an agreement to acquire Société Générale Mauritanie (SGM).

The consortium aims to accelerate the development of a locally anchored bank operating to international standards, serving both corporate and individual clients, according to a statement on Friday.

The agreement is subject to approval by Mauritanian regulatory authorities, it said.

The statement said: “Formed by Enko Capital, a leading international investment firm in Africa with over $1 billion in assets under management, led by Alain and Cyrille Nkontchou, and Oronte, represented by Bastien Ballouhey, the consortium combines international expertise with local anchorage to ensure strategic continuity while instilling a bold, ambitious vision.

“Investing equally, the consortium seeks to strengthen the trajectory of a robust bank operating to international standards. The consortium benefits from a diversified partner base, supported by Enko Capital, including international, regional, and African investors as well as pension funds. Bastien Ballouhey, an active investor in Mauritania since 1999 and the bank’s founder in 2004, has played a pivotal role in its development, notably through an 18-year strategic partnership with Société Générale.”