Ecobank Transnational Incorporated (ETI) has announced a strategic agreement to divest its stake in Ecobank Mozambique S.A.(EMZ) to FDH Bank Plc, a well-established financial institution listed on the Malawi Stock Exchange. This transaction, according to ETI in a statement on August 5, represents a strategic change in ownership and operational management with no expected disruption to banking operations, assets or employees.
The transaction has received all the necessary regulatory approvals. It is subject to customary conditions precedent and is expected to be completed within the 2025 financial year. Upon completion, FDH Bank Plc will assume effective control of Ecobank Mozambique SA. This transaction has been conducted on an arm’s length basis and does not involve any related parties. Both FDH Bank Plc and ETI said it remain committed to keeping stakeholders informed of any material developments in line with their respective stock exchange listing requirements.
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