Ecobank Transnational Incorporated has agreed to sell its stake in Ecobank Mozambique S.A. to Malawi’s FDH Bank Plc, signalling a new phase for the Mozambican operation.
The announcement was made on Tuesday through a notice filed with the Nigerian Exchange Limited. Ecobank said the transaction would not affect current operations, assets, or staff in Mozambique.
FDH Bank, known for its digital banking strength and corporate finance reach in Malawi, will fully fund the acquisition using its retained earnings.
Ecobank Group’s Chief Executive, Jeremy Awori, explained that the decision was part of the bank’s broader strategy. “This strategic decision aligns with our Growth, Transformation, and Returns strategy, ensuring we remain competitive across the markets where we operate,” he said.
He added that the sale would not cut Mozambique off from Ecobank’s cross-border payment systems. “We are exploring strategic partnerships with FDH Bank to keep Mozambique connected to our pan-African digital network,” he said.
Founded in 2000, Ecobank Mozambique operates four branches in key cities and is regulated by the Central Bank of Mozambique.
According to Ecobank, the decision to divest was carefully evaluated to minimise disruption to customers and employees. “We considered all angles to ensure the best outcome for our clients and staff. This is a business decision, not an exit from our mission of driving Africa’s financial integration,” the bank stated.
The transaction has received all necessary regulatory approvals and is expected to be completed within the 2025 financial year. Once finalised, FDH Bank Plc will assume full control of Ecobank Mozambique.
Despite the sale, Ecobank reaffirmed its commitment to sustainable growth and its long-term plan to strengthen financial services across the African continent.
