Ecobank Transnational Incorporated (ETI), the parent company of the leading Pan-African Ecobank Group, has officially finalized its complete divestment from the Mozambican market. The company successfully concluded the sale of its entire shareholding in Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc, a prominent financial institution listed on the Malawi Stock Exchange.
The finalization of this deal, which was first announced on August 5, 2025, marks a strategic realignment for Ecobank and a significant regional expansion for FDH Bank.
A Strategic Alignment for Pan-African Focus
The divestment of Ecobank Mozambique is a key component of the Ecobank Group’s Growth, Transformation, and Returns (GTR) strategy. According to Jeremy Awori, Chief Executive Officer of the Ecobank Group, the strategic move aims to streamline the bank’s continental footprint, allowing it to sharpen its focus on high-growth and high-return markets.
“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,” Awori stated, signaling a disciplined approach to portfolio optimization across the continent. ETI confirmed that the transaction received all necessary regulatory approvals, ensuring a smooth transition.
FDH Bank Plc Expands Regional FootprintWith the completion of the sale, FDH Bank Plc has assumed full ownership and operational control of the bank in Mozambique. The acquisition includes the transfer of EMZ’s four existing branches, strategically located in Mozambique’s largest cities.
FDH Bank Plc, a major player on the Malawi Stock Exchange known for its robust digital infrastructure and comprehensive corporate and trade finance services, fully financed the acquisition using only its retained earnings. This move provides the Malawian bank with an immediate and significant entry into the Mozambican market, supporting its regional expansion ambitions in Southern Africa.
Continuity and Corporate Transparency
Both parties emphasized that the transition is not expected to disrupt services. The Ecobank Group assured stakeholders that banking operations, customer services, and employee contracts will remain uninterrupted under the new ownership.
EMZ, which has operated in Mozambique since 2000 (initially as Novo Banco SARL before ETI’s acquisition in 2014), is a licensed commercial bank regulated by the Central Bank of Mozambique. ETI also confirmed that the transaction was conducted on an arm’s length basis, ensuring corporate transparency and excluding any related-party involvement.
This deal is part of a broader trend of financial institutions optimizing their assets. It follows the recent confirmation that Bosquet Investments Ltd., the private investment vehicle of Alain Nkontchou, acquired a 21.22% stake in ETI from Nedbank Group Ltd., which is strategically refocusing on its core markets in Southern and Eastern Africa.
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