August 5, 2025/NGX
Ecobank Transnational Incorporated (ETI)E has announced the divestment of its entire stake in Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc, a leading financial services provider listed on the Malawi Stock Exchange. The transaction marks a strategic realignment for ETI, as it optimizes its pan-African presence. Despite the change in ownership and operational control, ETI assured stakeholders that there would be no disruption to EMZ’s banking operations, assets, or staff.
EMZ, a licensed commercial bank regulated by the Central Bank of Mozambique, operates four branches across the country’s largest cities. Originally incorporated in 2000 as Novo Banco SARL, the bank was rebranded to Ecobank Mozambique in 2014 following its acquisition by ETI.
FDH Bank Plc is listed on the Malawi Stock Exchange. The Bank provides superior digital banking, personal and business banking, corporate and institutional banking, treasury and investment banking, global markets and trade finance, as well as corporate advisory services. The acquisition will be fully financed from FDH Bank Plc’s retained earnings.
“This strategic decision aligns with our commitment to Ecobank’s Growth, Transformation, and Returns strategy, ensuring we remain a competitive and meaningful player across the markets in which we operate,” said Jeremy Awori, Chief Executive Officer, Ecobank Group. “As a Pan-African financial institution, we continuously assess our operations to drive sustainable growth while maintaining our core mission of driving Africa’s financial integration and economic growth.”
He added: “The transfer of our Mozambique stake to FDH Bank PLC was given deep consideration to ensure least disruption and the best outcome for employees, customers and operations. We are exploring strategic partnerships with FDH Bank to maintain Mozambique’s access to our pan-African digital ecosystem for seamless cross-border payments.”
“While our direct presence in Mozambique is changing, our unwavering commitment to driving pan-African financial integration and economic growth across the continent remains stronger than ever.”, Awori concluded
The transaction has received all the necessary regulatory approvals. It is subject to customary conditions precedent and is expected to be completed within the 2025 financial year. Upon completion, FDH Bank PLC will assume effective control of Ecobank Mozambique SA.
This transaction has been conducted on an arm’s length basis and does not involve any related parties. Both FDH Bank Plc and ETI remain committed to keeping stakeholders informed of any material developments in line with their respective stock exchange listing requirements.
