Ecobank Group exits Mozambique, completes sale of subsidiary to Malawian lender
Ecobank Transnational Incorporated has fully divested from Mozambique by selling its stake in Ecobank Mozambique S.A. to Malawian lender FDH Bank Plc. The undisclosed deal, which received regulatory approval, transfers full ownership and operational responsibility to FDH Bank. Ecobank, which had a 96% interest since 2014, anticipates continued collaboration with FDH Bank to facilitate cross-border payments through its digital ecosystem. This move comes after Ecobank's former chair, Alain Nkontchou, acquired Nedbank's 21.2% shareholding in the group for $100 million. Ecobank reported strong financial performance, with after-tax profit rising to N433.9 billion in the first half of the year.
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Verified on Sep 27, 2025