• Ecobank sells 99% stake in Mozambique unit to FDH Bank
• Move aligns with strategy to focus on core competitive markets
• FDH Bank takes full control; Ecobank to support via partnerships

Ecobank Transnational Incorporated (ETI) has finalized the sale of its 99 percent stake in Ecobank Mozambique (EMZ) to FDH Bank Plc, a Malawian bank listed on the local stock exchange.

The transaction, announced Friday, Sept. 26, 2025, was concluded after securing all necessary regulatory approvals. It marks the end of Ecobank’s direct operational presence in Mozambique.

The sale price was not disclosed, but Ecobank stated the decision aligns with its Growth, Transformation, and Returns (GTR) strategy, which aims to concentrate resources on markets where the group holds a competitive advantage. The initial sales agreement between ETI and FDH Bank Plc was signed on Aug. 5, 2025.

With the acquisition, FDH Bank Plc assumes full control and operational responsibility for Ecobank Mozambique. The unit, which was established in 2000 as Novo Banco SARL and acquired by ETI in 2014, will continue its activities under the new ownership. FDH Bank, which offers digital, retail, commercial, institutional, and treasury services, financed the acquisition using its retained earnings.

The entry of a new foreign player into the Mozambican banking market occurs as the country seeks to enhance financial inclusion and support cross-border flows, particularly with Southern Africa.

Ecobank, however, affirmed its intention to remain active in Mozambique through strategic partnerships with FDH Bank, specifically in digital services and cross-border payments. The direct market withdrawal does not signify a total exit but a reorganization designed to ensure Mozambican clients retain access to Ecobank’s pan-African ecosystem.

Chamberline Moko