Cameroonian brothers Alain and Cyrille Nkontchou, through their investment vehicle Enko Capital, are investing 56 billion FCFA (approximately $100 million) in a solar power plant project in Angola. This financing will support the construction of a 724 MW capacity infrastructure, developed by Metalosul, a subsidiary of the Angolan conglomerate Omatapalo Group.
With approximately $1.6 billion in assets under management, this marks one of Enko Capital's first major investments in the African energy sector. This operation reinforces the Nkontchou brothers' position in the African market, following significant acquisitions in the financial sector in 2025. In August 2025, Alain Nkontchou, through Bosquet Investments Ltd, acquired a 21.22% stake in Ecobank Transnational Incorporated (ETI) for over 65 billion FCFA, becoming the group's largest shareholder, surpassing Qatar National Bank.
Additionally, Enko Capital finalized the acquisition of 100% of the Mauritanian subsidiary of the Société Générale group.
These strategic moves demonstrate a desire to strengthen African influence in the banking sector, amidst a gradual withdrawal of certain international banks. Through these acquisitions, the Nkontchou brothers are asserting their ambition to play a major role in the continent's economic development.
In Angola, the local government is focusing on solar energy to increase access to electricity and reduce its dependence on fossil fuels. Several solar power plants have already been inaugurated, and the country aims for a solar energy capacity of 1 GW by 2030. The Nkontchou brothers' investment is part of a continental dynamic of energy transition and sustainable development.
