Ecobank Transnational Incorporated (ETI) has announced the divestment of its stake in Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc of Malawi in a move aligned with its Growth, Transformation and Returns strategy.
ETI confirmed that the transaction will not disrupt operations, assets, or employees of Ecobank Mozambique, which operates four branches in the country’s largest cities under the supervision of the Central Bank of Mozambique.
The transaction has received regulatory approvals and is expected to close within the 2025 financial year, subject to customary conditions precedent.
FDH Bank Plc, a Malawi Stock Exchange‑listed financial institution, will fully finance the acquisition from its retained earnings.
The lender provides digital, personal, and business banking services as well as corporate, institutional, treasury, and trade finance solutions across the Malawian market.
Ecobank Group Chief Executive Officer Jeremy Awori said the decision reflects the Group’s continuous assessment of its operations to maintain competitiveness.
“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,” Awori stated.
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.”
Awori reiterated that while Ecobank’s direct presence in Mozambique will change, its mission to drive pan-African financial integration and economic growth remains unchanged.
Ecobank Mozambique, incorporated in 2000 as Novo Banco SARL before becoming Ecobank Mozambique SA in 2014, was acquired by ETI as part of its West and Southern African expansion.
ETI emphasized that the transaction was conducted on an arm’s‑length basis, with no related party involvement. Both ETI and FDH Bank Plc have pledged to keep stakeholders informed of material developments in line with listing requirements.
Ecobank, present in 35 sub‑Saharan African countries and international financial hubs including France, the UK, UAE, and China, serves over 32 million customers through a workforce of more than 14,000.