FDH Financial Holdings Limited (FDHFHL) is a diversified investments and financial solutions centre with interests in Banking, Discount House Operations, Stockbroking, Investment Management and Advisory Services as well as Forex Bureau operations. FDH prides itself in the quality of its services, which has created a formidable reputation for itself in all its business arms.
FDH Financial Holdings Limited was established in November 2007 as part of the group restructuring to replace First Discount House as the holding company of the group. First Discount House was incorporated in accordance with the Companies Act on 8 March 2000. It obtained its Discount House license under the Banking Act on 20 July 2001, commencing operations on 8 April 2002. The company was established by a partnership that included Mr. Thomson Mpinganjira (24.9%), a respected local businessman and the first Managing Director of the Company, Press Corporation Limited (30%), Old Mutual (Malawi) Limited (20%) and Kingdom Financial Holdings Limited of Zimbabwe (25.1%). On 4 August 2006 Press Corporation was bought out as part of the strategic repositioning that has seen the current structure and expansion of the group. In January 2012 Kingdom Financial Holdings Limited relinquished its shareholding following a directive by the Reserve Bank of Malawi.
FDH Financial Holdings currently wholly owns the following subsidiaries:
- First Discount House Limited – commenced operations April 2002
- FDH Stockbrokers Limited – commenced operations January 2007
- FDH Bank Limited – Licensed 27 November 2007, operations commenced on 15 July 2008
- FDH Money Bureau Limited – Acquired 100% effective 1 February 2009
- 75% of Malawi Savings Bank Ltd (MSB): acquired from Malawi Government from 1 July, 2015, and
- 75% of MSB Forex Bureau Limited: acquired from Malawi Government from 1 July, 2015.
FDH Financial Holdings current Shareholder structure effective January 2012 is as follows:
- M. Development Limited 55.00%
- Old Mutual (Malawi) Limited 40.00%
- FDH ESOP Limited (Employees Share Ownership) 5.00%
- TOTAL: 100%
FDH Financial Holdings limited was granted a licence by Reserve Bank of Malawi in October 2009 to operate as professional investment advisors in Malawi. The scope of the advisory work ranges from advisory on investment portfolio management, capital raising structures such as bond issuance, commercial paper structuring and issuance, loan syndication, Due diligence, Corporate valuations, Public and Private equity Placements as well as Initial Public Offer (IPO) lead advisory services among others.