FDH Bank Plc has announced a definitive agreement to acquire a controlling 98.87% stake in Ecobank Mozambique SA (EMZ) from Ecobank Transnational Incorporated (ETI), marking a major milestone in its expansion strategy.
In a press statement issued by FDH Bank plc, Company Secretary Juliano Kanyongolo states that the remaining 1.13% stake in EMZ is held by Fundo Para O Fomento De Habitação (FFH), a Mozambican housing development fund.
"The transaction, which has received all necessary regulatory approvals, is set to be completed within the 2025 financial year, pending the fulfilment of certain conditions precedent. Upon completion, FDH Bank plc will assume effective control of EMZ, enabling strategic synergies in operations, customer innovation, and product offerings," states Kanyongolo in the statement.
The statement also highlights that the acquisition is a major step forward for the Bank in its ambition to become a regional banking force, and it positions the Bank to diversify its revenue streams, tap into new markets, and create long-term value for its stakeholders.
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"The deal will be fully financed through FDH Bank plc's retained earnings and is valued at approximately 0.7% of the bank's market capitalisation, which stood at K3.6 trillion (approximately USD 2.1 billion) as of 31 July 2025," reads the statement.
In his remarks, renowned motivational speaker and motivator, Benedicto Bena Nkhoma, said the move by the Bank into Mozambique is a bold move to diversify sources across the region.
"Their recent performance and growth trajectory have enabled them to move into other markets. They have experience locally when they bought Malawi Saving Bank (MSB), and as such, they can leverage the learnings from the previous experience. Therefore, this regional expansion is good as it will bring returns in foreign currency," said Nkhoma.
Ecobank Mozambique SA is a licensed commercial bank that has operated in Mozambique since 2000.
Initially established as Novo Banco SARL, it became EMZ in 2014 following its acquisition by ETI.
The bank currently operates four branches in Mozambique's largest cities and is regulated by the Central Bank of Mozambique.
ETI, a pan-African banking group headquartered in Togo, is present in 35 African countries and has a global presence through its Paris banking license and offices in London, Dubai, and Beijing.
The group is listed on the Ghana Stock Exchange, Nigerian Stock Exchange, and BRVM.
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