The Enko Capital – Oronte Consortium Finalizes the Acquisition of Société Générale Mauritanie

A new chapter is beginning for Société Générale Mauritanie. The consortium formed by Enko Capital and Oronte has finalized the acquisition of 100% of the bank’s capital, following approval from the Central Bank of Mauritania.

A Change in Shareholding with Ambitious Goals

This transaction marks the exit of Société Générale Group, which had been a shareholder since 2007, and the arrival of a shareholder structure combining international financial expertise with a long-term local presence.

Enko Capital, a London-based asset management firm with more than one billion dollars in assets under management, specializes in investments across the African continent. The firm is led by Alain and Cyrille Nkontchou, both recognized figures in African financial markets.

Oronte, meanwhile, has been an active investor in Mauritania since 1999 and is represented by Bastien Ballouhey, the bank’s original founder in 2006 and a key contributor to its development for nearly two decades.

A Vision Serving the Mauritanian Economy

The consortium’s ambition is clear: to strengthen the bank’s position as a central player in financing the Mauritanian economy, particularly in strategic sectors such as mining, gas, agriculture, and SMEs.

“This acquisition reflects our confidence in the potential of the Mauritanian economy and our willingness to invest in a resilient banking sector that supports development,” says Cyrille Nkontchou, Co-Founder of Enko Capital.

“We intend to support the country’s growth with modern banking solutions tailored to the needs of the local economic environment, while strengthening governance, service quality, and the bank’s overall impact,” adds Bastien Ballouhey.

Continuity and Modernization

Nicolas Roca, Chief Executive Officer of the bank, will remain at the helm of the institution to ensure a smooth transition and support this new phase alongside the consortium.

This new chapter will be accompanied by a strategic drive focused on modernizing banking services, investing in digitalization, strengthening governance, and deepening the bank’s role in financing key sectors of the economy.

The objective: to consolidate a universal bank with strong local roots, fully aligned with the highest international standards, and dedicated to supporting Mauritania’s economic development.