* The transaction — which has received all the necessary regulatory approvals — “represents a significant milestone in FDH Bank’s regional expansion strategy
* It enables FDH Bank Plc to extend its footprint in southern Africa, and is expected to deliver strategic benefits
* Including market expansion; revenue diversification; operational synergies; and long-term value creation for stakeholders
By Duncan Mlanjira
FDH Bank Plc has is acquiring a controlling stake of 98.87% in Ecobank Mozambique SA after entering into a definitive agreement with Ecobank Transnational Incorporated — with the remaining minority stake of 1.13% being held by Fundo Para O Fomento De Habitação, a housing development fund in the Republic of Mozambique.
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A statement from FDH Bank company secretary, Juliano Kanyongolo, dated August 5, 2025, indicates that Ecobank Mozambique is a licensed commercial bank in Mozambique, supervised and regulated by the Central Bank of Mozambique.
It has 4 branches located in the biggest cities of Mozambique and has been operating in Mozambique since 2000, when it was incorporated as Novo Banco SARL — before changing its name in 2014 to Ecobank Mozambique SA, following an acquisition by Ecobank Transnational Incorporated.
Kanyongolo says the transaction — which has received all the necessary regulatory approvals — “represents a significant milestone in FDH Bank’s regional expansion strategy”.
“The transaction enables FDH Bank Plc to extend its footprint in southern Africa, and is expected to deliver strategic benefits including market expansion; revenue diversification; operational synergies; and long-term value creation for stakeholders.”
Having received all the necessary regulatory approvals, Kanyongolo adds that the transaction “is subject to conditions precedent and is expected to be completed within 2025 financial year”.
“The consideration is equal to 0.7% of FDH Bank Plc market capitalisation as at July 31, 2025. Upon completion, FDH Bank Plc will assume effective control of Ecobank Mozambique SA — enabling synergies in product offerings, customer-centric innovation, and operational efficiency.
“This transaction has been conducted on an arm’s length basis and does not involve any related parties. Both FDH Bank Plc and Ecobank Transnational Incorporated remain committed to keeping stakeholders informed of any material developments in line with their respective stock exchange listing requirements.”
Ecobank Transnational Incorporated is a pan-African banking group incorporated in the Republic of Togo and is present in 35 African countries — holding a banking license in Paris with representative offices in London, Dubai and Beijing, to support their global business.
Ecobank Transnational Incorporated has listings on the Ghana Stock Exchange, the Nigerian Stock Exchange, and the Bourse Régionale des Valeurs Mobilières SA.
It provides wholesale, retail, investment and transactional banking services to individuals, small and medium-sized enterprises (SMEs), local corporates, multinationals, governments and financial institutions.
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FDH Bank Plc, which is listed on the Malawi Stock Exchange (MSE) — with a market capitalisation of K3.6 trillion (approximately US$2.1 billion) as at July 31, 2025 — recorded a 10.47% jump in its share price, rising from K531.05 to K586.67.
The Bank provides superior digital banking; personal and business banking; corporate and institutional banking; treasury and investment banking; global markets and trade finance, as well as corporate advisory services.
The bank indicates that the acquisition of Ecobank Mozambique will be fully financed from FDH Bank Plc’s retained earnings.
“This strategic decision aligns with Ecobank’s growth, transformation and returns (GTR) strategy to realign its business participation model in the countries in which it operates,” says Kanyongolo in the statement.
