FDH Bank acquires 98.8 of Ecobank Mozambique for 19.2 million, reinforcing its regional growth strategy and diversifying income streams.
The remaining 1.13 percent stake is held by Mozambiques state-backed Fundo Para o Fomento de HabitaxE3o FFH.
With a 2.74 billion valuation, FDH ranks as Malawis second most valuable stock, trailing only FMB Capital Holdings Plc.
FDH Bank, a wholly owned subsidiary of FDH Financial Holdings Limited founded by Malawian billionaire Thom Mpinganjira, has entered into a definitive agreement to acquire a majority 98.8 percent stake in Ecobank Mozambique SA from Ecobank Transnational Inc. for 19.2 million, marking its first cross-border deal.
Expansion into Southern AfricaFDHs 98.8 percent acquisition of Ecobank Mozambique, strengthens its regional footprint and diversifies revenue streams, advancing a broader Southern Africa growth strategy while preserving capital for long-term stability. The remaining 1.13 percent stake is held by Mozambiques state-backed housing development fund, Fundo Para o Fomento de HabitaxE3o FFH.
Maputo-based Ecobank Mozambique, formerly a unit of Togos Ecobank Transnational, operates as a full-service commercial bank with retail, corporate, and investment banking offerings. It serves individuals, SMEs, and large corporates through nationwide branches and digital channels.