FDH Bank acquires majority stake in Ecobank Mozambique
Kanyongolo: Confirmed of the acquisition
FDH Bank Plc has announced the acquisition of a controlling stake—98.87%—in Ecobank Mozambique SA (EMZ) from Ecobank Transnational Incorporated (ETI), marking a major step in its regional expansion strategy.
The acquisition, which has received all necessary regulatory approvals, is expected to be completed within the 2025 financial year.
The remaining 1.13% of shares in EMZ are held by Fundo Para O Fomento De Habitação (FFH), a housing development fund in Mozambique.
FDH Bank says the deal was fully financed through its retained earnings and represents a strategic milestone in growing its presence across Southern Africa.
Upon completion, the Malawian bank will assume full control of EMZ, which currently operates four branches in Mozambique’s major cities.
FDH Bank Plc’s Company Secretary, Juliano Kanyongolo, confirmed the development in a public statement issued today.
The transaction aligns with ETI’s Growth, Transformation, and Returns (GTR) strategy, which involves restructuring its operations across African markets.
The move is expected to bring market expansion, revenue diversification, and operational synergies, while also delivering long-term value to shareholders.
ETI, a pan-African banking group based in Togo, operates in 35 African countries and holds listings in Ghana, Nigeria, and on the regional BRVM exchange. EMZ has been operational in Mozambique since 2000 and was rebranded from Novo Banco SARL to Ecobank Mozambique SA in 2014 after being acquired by ETI.
FDH Bank, listed on the Malawi Stock Exchange, had a market capitalization of K3.6 trillion (approx. USD 2.1 billion) as of July 31, 2025.
The bank offers services across digital, personal, business, institutional, and investment banking sectors.
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