Nigeria, Sept. 27 -- Pan-African banking group Ecobank Transnational Incorporated has exited Mozambique after completing the sale of its stake in Ecobank Mozambique S.A to FDH Bank Plc, according to a statement issued on Friday.
FDH Bank, a Malawian lender based in Blantyre, offers services, including SME banking, digital banking and bancassurance. The value of the deal is undisclosed.
"The transaction, which received all necessary regulatory approvals, marks Ecobank's full divestment from Mozambique," the document stated.
"With this completion, FDH Bank Plc assumes full ownership and operational responsibility of the bank that was formerly owned in Mozambique by Ecobank."
Through the deal, Lome-based Ecobank, which operates in thirty...
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