On 5 August, Ecobank Transnational Incorporated (ETI) announced that it had entered into a strategic agreement to sell its stake in Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc, a well-established financial institution listed on the Malawi Stock Exchange.

The session of shares from Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc represents a strategic change in ownership and operational management, with no anticipated disruption to banking operations, assets or workforce. According to Jeremy Awori, Ecobank Group CEO, “this strategic decision is part of our commitment to Ecobank's Growth, Transformation and Returns (GTR) strategy, ensuring that we remain a competitive and significant player in all markets where we

The transaction has received all necessary regulatory approvals. It remains subject to the usual suspensive conditions and should be finalized in fiscal year 2025. At the end of the transaction, FDH Bank Plc will take effective control of Ecobank Mozambique SA. The acquisition will be fully financed by retained earnings from FDH Bank Plc

EMZ is a commercial bank licensed in Mozambique, supervised and regulated by the Central Bank of Mozambique. It has four agencies located in the largest cities in the country.

FDH Bank Plc is listed on the Malawi Stock Exchange. The Bank offers a comprehensive range of services including cutting-edge digital banking, retail and commercial banking, corporate and institutional banking, treasury and investment transactions, financial markets and trade finance, as well as strategic business advice.