Ecobank divests stake in Ecobank Mozambique SA to Malawian FDH Bank

Ecobank Transnational Incorporated (ETI) has divested its stake in Ecobank Mozambique S.A. (EMZ) to Malawi-based FDH Bank PLC.

The bank described it as a strategic realignment, a change in ownership and operational management with no expected disruption to banking operations, assets, or employees.

The announcement was disclosed to the Nigerian Exchange on August 5, 2025.

“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.

EMZ, incorporated as Novo Banco SARL in 2000, became part of Ecobank Group following its acquisition in 2014 and rebranding to Ecobank Mozambique S.A. The bank currently operates four branches across Mozambique’s largest cities.

Its exit reflects a calculated shift in ETI’s pan-African presence, as the group recalibrates to strengthen its competitive edge across key African markets.

“Our unwavering commitment to driving Africa’s financial integration and long-term economic growth remains intact,” Awori emphasized.

FDH Bank PLC, which offers digital, personal, corporate, institutional, and treasury banking services, will fully finance the acquisition from its retained earnings.

Awori also stressed that the deal was carefully structured to minimize disruption, stating “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,” adding that “We are exploring strategic partnerships with FDH Bank to maintain Mozambique’s access to our pan-African digital ecosystem for seamless cross-border payments”

These efforts aim to keep Mozambique integrated within Ecobank’s pan-African digital payment ecosystem, despite its direct exit from the market.

The transaction has received all necessary regulatory approvals and is expected to close within the 2025 financial year, after meeting customary closing conditions. Once finalized, FDH Bank PLC will assume full control of EMZ’s operations.

Subscribe to Notifications