Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has officially completed its divestment from Mozambique following the sale of its entire stake in Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc.
The transaction, which received all necessary regulatory approvals, marks the conclusion of a strategic exit first announced on August 5, 2025.
“With this completion, FDH Bank Plc assumes full ownership and operational responsibility of the bank that was formerly owned in Mozambique by Ecobank,” the company said in a statement signed by Madibinet Cisse, Company Secretary.
The deal includes the transfer of EMZ’s four branches located in Mozambique’s largest cities, positioning FDH Bank for expanded regional influence.
Strategic Realignment for Pan-African Growth
The divestment is part of Ecobank’s broader strategy to streamline its regional footprint and sharpen its focus on high-growth markets across Africa.
“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 of Ecobank Group.
Leading Financial Institution Listed on the Malawi Stock Exchange
FDH Bank Plc, a leading financial institution listed on the Malawi Stock Exchange, now assumes full control of EMZ’s operations.
ETI emphasized that the transaction was conducted on an arm’s length basis, with no involvement of related parties, and assured stakeholders that banking operations, customer services, and employee contracts will remain uninterrupted.
The move reflects a growing trend among African financial institutions to optimize their portfolios and deepen strategic partnerships, while maintaining operational continuity and customer trust.
EMZ, a licensed commercial bank regulated by the Central Bank of Mozambique, has operated in the country since 2000, originally incorporated as Novo Banco SARL before its rebranding in 2014 following ETI’s acquisition.
FDH Bank Plc, which financed the acquisition entirely from retained earnings, is known for its robust digital banking infrastructure and comprehensive financial services, including corporate advisory, trade finance, and global markets.
What You Should Know
- Also, last month, Ecobank confirmed the execution of a purchase agreement between Nedbank Group Ltd. and Bosquet Investments Ltd., the private investment vehicle of Alain Nkontchou, for the acquisition of a 21.22% stake in ETI.
- According to the Bank’s press release, uploaded on the NGX, Enko Capital Management LLP served as the lead advisor for the transaction, while Absa Bank Limited, through its Corporate and Investment Banking division, acted as co-financial advisor.
- The sale follows Nedbank’s strategic decision to refocus on its core markets in Southern and Eastern Africa, where the Group owns and controls businesses.
