‎Ecobank to sell Mozambique stake to FDH Bank in strategic move

Ecobank Transnational Incorporated has announced a strategic agreement to divest its stake in Ecobank Mozambique S.A. to FDH Bank Plc, a financial institution listed on the Malawi Stock Exchange, according to a notice filed with the Nigerian Exchange Limited

‎The transaction, which aligns with Ecobank Group’s Growth, Transformation, and Returns strategy, aims to sustain competitiveness and foster pan-African financial integration without disrupting banking operations, assets, or staff in Mozambique. Ecobank Mozambique, operational since 2000 with four branches in major cities, is regulated by the Central Bank of Mozambique.

‎FDH Bank Plc, known for its digital banking and corporate services, will finance the acquisition entirely from its retained earnings, marking a significant step in its expansion strategy.

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‎Jeremy Awori, Chief Executive Officer of Ecobank Group, emphasized that the decision was made after careful consideration to ensure minimal disruption for customers, employees, and operations. “This strategic decision aligns with our commitment to remain a competitive and meaningful player across the markets in which we operate,” Awori said. He also revealed plans to explore partnerships with FDH Bank to maintain Mozambique’s access to Ecobank’s pan-African digital ecosystem for seamless cross-border payments.

‎The sale, which has secured all necessary regulatory approvals, is expected to be finalized within the 2025 financial year, at which point FDH Bank will assume full control of Ecobank Mozambique. Ecobank reaffirmed its commitment to driving Africa’s financial integration and economic growth, emphasizing sustainable growth across its markets.