Ecobank completes Mozambique exit as FDH Bank takes over subsidiary

Ecobank Transnational Incorporated (ETI) says it has completed the divestment of its Mozambique subsidiary, Ecobank Mozambique S.A., to FDH Bank Plc.

The bank announced the transaction in a statement filed with the Nigerian Exchange Limited (NGX) on Friday.

According to ETI, the transaction has now received all required regulatory approvals.

With the completion, Ecobank has fully exited Mozambique as FDH Bank assumes full ownership and operational control of the institution.

“Ecobank Transnational Incorporated has completed the sale of its stake in Ecobank Mozambique S.A. to FDH Bank Plc, concluding the strategic transaction announced on August 5, 2025,” Madibinet Cisse, ETI’s company secretary, said.

“The transaction, which received all necessary regulatory approvals, marks Ecobank’s full divestment from Mozambique. With this completion, FDH Bank Plc assumes full ownership and operational responsibility of the bank that was formerly owned in Mozambique by Ecobank.”

On August 5, ETI announced the sale of its shares in Ecobank Mozambique S.A. to FDH Bank, a financial institution listed on the Malawi Stock Exchange.

The bank said the sale was a strategic shift in ownership and operations, with no disruption expected to employees, assets or banking services.

Jeremy Awori, chief executive officer (CEO) of Ecobank Group, also said the decision aligns with the commitment to Ecobank’s growth, transformation, and return strategy.