In a bold move to strengthen its regional presence, FDH Bank plc has acquired a controlling 98.87 percent stake in Ecobank Mozambique SA (EMZ), following the signing of a definitive agreement with Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group.
The remaining 1.13 percent stake in EMZ is held by Fundo Para O Fomento De Habitação (FFH), a Mozambican housing development fund.
Confirming the development, FDH Bank plc’s Company Secretary Juliano G. Kanyongolo described the transaction as a major step in the bank’s regional expansion strategy, allowing the Malawi Stock Exchange-listed bank to broaden its reach within Southern Africa.
“For FDH Bank Plc, the transaction represents a significant milestone and it is expected to bring strategic benefits such as market expansion, revenue diversification, operational synergies, and long-term value creation for stakeholders,” said Kanyongolo.
He added that the acquisition aligns with the Ecobank’s Growth, Transformation and Returns (GTR) strategy, which aims to reshape its business model across the countries where it operates.
Ecobank Mozambique is a licensed commercial bank regulated by the Central Bank of Mozambique and has been operating since 2000. It has four branches in major cities and was formerly known as Novo Banco SARL before rebranding in 2014 after being acquired by ETI.
The transaction has received all necessary regulatory approvals and is expected to be completed within the 2025 financial year. It will be fully financed through FDH Bank’s retained earnings and is valued at 0.7 percent of the bank’s market capitalisation as of July 31, 2025.
The acquisition follows market surveys conducted in Zambia and Mozambique earlier this year where FDH Bank assessed opportunities for regional expansion.
This development comes shortly after FDH Bank surpassed the K4 trillion market capitalisation mark, with shares currently trading at K599.99 on the 16-counter Malawi Stock Exchange.
Upon completion, FDH Bank plc will take full control of EMZ, aiming to enhance product offerings, improve operational efficiency and focus on customer-driven innovation.
