Ecobank Completes Exit From Mozambique With Sale to Malawi’s FDH Bank

AFRICAN STOCKS AND FINANCEOctober 9, 2025 at 1:18 PM UTC

TLDR

Ecobank Transnational Incorporated (ETI) has finalized its exit from Mozambique following the sale of its local subsidiary
FDH Bank now assumes ownership of EMZ’s operations and its four branches across Mozambique’s major cities
The acquisition, financed entirely through equity, marks FDH Bank’s first expansion outside Malawi

Ecobank Transnational Incorporated (BRVM: ETIT) has finalized its exit from Mozambique following the sale of its local subsidiary, Ecobank Mozambique (EMZ), to FDH Bank Plc, which is listed on the Malawi Stock Exchange. The deal, first announced in August 2025, has received full regulatory approval.

FDH Bank now assumes ownership of EMZ’s operations and its four branches across Mozambique’s major cities. For Ecobank, the divestment forms part of a broader “Growth, Transformation, and Returns” strategy to reallocate resources toward higher-performing markets across Africa.

The acquisition, financed entirely through equity, marks FDH Bank’s first expansion outside Malawi, reflecting a broader trend of African banks pursuing regional growth through cross-border acquisitions.

Ecobank’s withdrawal follows Nedbank’s recent sale of its 21.22% stake in ETI to Bosquet Investments, a private investment vehicle controlled by Alain Nkontchou, ETI’s current chairman.

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Key Takeaways

Ecobank’s sale of its Mozambican operations to FDH Bank underscores the shifting landscape of African banking, where regional consolidation and portfolio optimization are reshaping market dynamics. For Ecobank, the move aligns with its ongoing strategy to streamline operations, strengthen profitability, and focus on markets offering stronger returns. The exit also follows recent shareholder changes, including Nedbank’s divestment to Bosquet Investments, signaling renewed confidence in ETI’s long-term direction under Nkontchou’s leadership. Meanwhile, FDH Bank’s entry into Mozambique positions it as one of the few Malawian banks with a regional footprint — a notable step amid growing intra-African banking integration. As African lenders pursue scale and cross-border synergies, this transaction highlights the continent’s maturing financial ecosystem, where local institutions are increasingly driving expansion once dominated by global banks.

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Ecobank

Ecobank Transnational Incorporated

Mozambique

Malawi Stock Exchange

Malawi

Ecobank Mozambique