FDH Bank Plc announced the signing of a definitive agreement to acquire a 98.87% majority stake in Ecobank Mozambique SA (EMZ) from Ecobank Transnational Incorporated (ETI) from Ecobank Transnational Incorporated (ETI), marking a major step in its expansion strategy.

The remaining 1.13% stake in Ecobank Mozambique SA (EMZ) is held by Fundo Para O Fomento De Habitação (FFH), a Mozambican real estate development fund. The information was published in a press release issued by FDH Bank plc, the Secretary General Juliano Kanyongolo. The document states that “the transaction, which has received all necessary regulatory approvals, is expected to be completed in fiscal year 2025, subject to the completion of certain preconditions. Once finalized, FDH Bank plc will take effective control of EMZ, allowing for strategic synergies in terms of operations, customer innovation and product offerings

Selon le communiqué, “l' opération sera entièrement financée par les bénéfices non répartis de FDH Bank plc and is valued at around 0.7% of the bank's market capitalization, which was K 3.6 trillion (about $2.1 billion) as of July 31