Ecobank Transnational Incorporated (ETI) has agreed to sell its full stake in Ecobank Moçambique (EMZ) to FDH Bank PLC, a Malawian financial institution listed on the Malawi Stock Exchange. The deal, according to ETI forms part of what it calls strategic realignment, designed to ensure continuity for EMZ’s operations, employees, and customers.
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Ecobank Mozambique, a licensed commercial bank regulated by the Central Bank of Mozambique, operates four branches in the country’s major cities. Originally established in 2000 as Novo Banco SARL, it was rebranded in 2014 after ETI’s acquisition. FDH Bank PLC, known for its robust digital banking, corporate, and investment services, will fund the acquisition entirely from its retained earnings.
Jeremy Awori, CEO of Ecobank Group, described the divestiture as a key step in the company’s Growth, Transformation, and Returns strategy. “This move strengthens our competitive position across our markets while preserving our mission to drive Africa’s financial integration,” Awori said. He emphasized that the transaction was carefully planned to minimize disruption and hinted at potential future partnerships with FDH Bank to maintain Mozambique’s access to Ecobank’s pan-African digital payment systems.
The transaction, which has secured all necessary regulatory approvals, is expected to close within the 2025 financial year, subject to standard conditions. Upon completion, FDH Bank PLC will take full control of Ecobank Mozambique. Both parties have assured stakeholders that the deal adheres to stock exchange regulations and was conducted at arm’s length, with no related-party involvement.
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