Ecobank Group Exits Mozambique as FDH Bank Acquires Ecobank Mozambique SA
Written by SpringnewsNG Media Limited August 7,2025
August 7, 2025 – Ecobank Group, through its parent company Ecobank Transnational Incorporated (ETI), has formally announced its exit from the Mozambique banking market following a definitive agreement to sell its entire stake in Ecobank Mozambique SA (EMZ) to FDH Bank Plc, a commercial bank based in Malawi.
The disclosure was made public via an official filing to the Nigerian Exchange Limited (NGX) on Tuesday, August 5.
“This transaction marks a strategic change in ownership and management with no anticipated disruptions to banking services, employee structure, or customer assets,” the pan-African financial group said.
Ecobank Mozambique SA, originally incorporated in 2000 as Novo Banco SARL, was rebranded in 2014 following its acquisition by ETI. The bank currently operates four branches and is licensed by the Central Bank of Mozambique.
FDH Bank Plc is fully financing the acquisition from its retained earnings, signaling confidence in the Mozambican market.
The move is part of ETI’s broader Growth, Transformation, and Returns strategy, designed to focus resources on high-impact markets while driving efficiency and profitability across its footprint.
“As a Pan-African financial institution, we continuously evaluate our portfolio to ensure sustainable growth,” said Jeremy Awori, Group Chief Executive Officer of Ecobank. “Our exit from Mozambique supports our strategic priorities while reinforcing our mission to facilitate Africa’s financial integration and economic advancement.”
Awori noted that FDH Bank will work closely with Ecobank to maintain access to the Group’s pan-African digital ecosystem, ensuring continued support for cross-border transactions and regional connectivity.
While Ecobank is reducing its physical presence in Mozambique, the Group emphasized its unwavering commitment to serving Africa through its broad continental and global network, which currently spans 35 African countries, as well as offices in Paris, London, Dubai, and Beijing.
The deal has received all required regulatory approvals, subject to standard closing conditions, and is expected to be finalized within the 2025 financial year, after which FDH Bank Plc will assume full operational control of Ecobank Mozambique SA.
