Ecobank Transnational Incorporated (NGX: ETI) has announced an agreement to sell its stake in Ecobank Mozambique S.A (EMZ) to FDH Bank Plc of Malawi.
In a regulatory filing on Tuesday, Ecobank stated that the transaction represents a strategic change in ownership and operational management with no expected disruption to banking operations, assets or employees.
Also read; Nigeria’s C&I Leasing Plc to invest in Leasafric Logistics Ghana
EMZ is a licensed commercial bank in Mozambique, supervised and regulated by the Central Bank of Mozambique. EMZ has 4 branches located in the biggest cities of Mozambique. The bank has been operating in Mozambique since 2000, when it was incorporated as Novo Banco SARL, before changing its name in 2014 to Ecobank Mozambique SA, following an acquisition by ETI.
FDH Bank Plc is a diversified financial institution in Malawi, offering a range of services including banking, investment management, and digital solutions. The bank is listed on the Malawi Stock Exchange.
“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. “As a Pan-African financial institution, we continuously assess our operations to drive sustainable growth while maintaining our core mission of driving Africa’s financial integration and economic growth.”
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.”
“While our direct presence in Mozambique is changing, our unwavering commitment to driving pan-African financial integration and economic growth across the continent remains stronger than ever.”, Awori concluded.
The transaction has received all the necessary regulatory approvals. It is subject to customary conditions precedent and is expected to be completed within the 2025 financial year. Upon completion, FDH Bank PLC will assume effective control of Ecobank Mozambique SA.
About Ecobank Transnational Incorporated (ETI)
Ecobank Transnational Incorporated (ETI) and its subsidiaries (together, ‘the Group’) provide retail, corporate and investment banking services throughout sub-Saharan Africa outside South Africa. The Group had presence in 39 countries and employed over 14,158 people as at 30 June 2025 (31 December 2024:14,560). Ecobank Transnational Incorporated is a limited liability company and is incorporated and domiciled in the Republic of Togo. The address of its registered office is as follows: 2365 Boulevard du Mono, Lomé, Togo.
The company has a primary listing on the Ghana Stock Exchange, the Nigerian Stock Exchange and the Bourse Regionale Des Valeurs Mobilieres (Abidjan) Cote D’Ivoire.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
