Ecobank Completes Mozambique Exit With FDH Bank Acquisition

Ecobank Transnational Incorporated has announced the completion of the divestment of its Mozambique subsidiary, Ecobank Mozambique S.A., to FDH Bank Plc, marking the lender’s full exit from the southern African country.

The transaction, which was first disclosed on August 5, 2025, received all necessary regulatory approvals before its conclusion on September 26, 2025.

With the completion, FDH Bank Plc has assumed full ownership and operational control of Ecobank Mozambique, taking over all assets, liabilities, and responsibilities associated with the business.

The bank in a notice to the Nigerian Exchange Limited (NGX) said the sale was in line with its broader strategic agenda to streamline operations, strengthen profitability, and focus on key growth markets across its pan-African network.

The move, according to the group, reflects an ongoing review of its portfolio to ensure sustainability and long-term value creation for shareholders.

FDH Bank Plc described the acquisition as a major step in its regional expansion strategy. By taking over Ecobank Mozambique, FDH Bank aims to broaden its footprint in Southern Africa while building on Ecobank’s legacy of banking operations in the market.

Analysts note that the transaction underscores the wave of consolidation in Africa’s banking sector, where regional and local players are increasingly positioning themselves to capture market share in niche or high-growth economies.

For Ecobank, the divestment is expected to help sharpen its focus on markets where it maintains strong competitive advantage, while for FDH Bank, the deal offers a platform to diversify earnings and expand customer reach.

Ecobank had announced a strategic agreement to divest its stake in Ecobank Mozambique S.A. to FDH Bank Plc, a financial institution listed on the Malawi Stock Exchange.

In a notice filed on the Nigerian Exchange Limited, the transaction marks a change in ownership and operational management of Ecobank Mozambique but is not expected to disrupt banking operations, assets, or staff.

Ecobank Mozambique, which has been operating in the country since 2000, currently maintains four branches in major cities and is regulated by the Central Bank of Mozambique.

FDH Bank Plc, known for its digital banking and corporate services, will finance the acquisition entirely from its retained earnings.

The deal aligns with Ecobank Group’s Growth, Transformation, and Returns strategy, focused on sustaining competitiveness and fostering pan-African financial integration.

The Chief Executive Officer of Ecobank Group, Jeremy Awori, said the decision was made after careful consideration to ensure minimal disruption and the best outcome for customers, employees, and operations.

He also revealed plans to explore strategic partnerships with FDH Bank to maintain Mozambique’s access to Ecobank’s pan-African digital ecosystem for seamless cross-border payments.

“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.

“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 development,” he said.