Access Bank to acquire 100% stake in South Africa’s Bidvest Bank

…sets H2’2025 to close deal

Access Bank, the banking subsidiary of Access Holdings has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of 100 percent equity stake in Bidvest Bank Limited.

Bidvest Bank, founded in 2000 is a niche and profitable South African financial institution providing a diverse range of services, including corporate and business banking solutions and diverse retail banking products. As of its year ended June 2024, Bidvest Bank reported total assets equivalent of $665million and audited profit before tax of $20million.

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This agreement to acquire 100 percent stake in Bidvest Bank reflects Access Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to global markets as it seeks to optimise the benefits of recent acquisitions and accelerate its transition towards a greater focus on efficiencies.

The acquisition is expected to close in the second half of 2025, subject to regulatory approvals. Upon conclusion of this acquisition, Bidvest Bank will be merged with the bank’s existing South African subsidiary to create an enlarged platform to anchor the regional growth strategy for the SADC region.