Bidvest relaunches sale of banking unit following collapse of deal with Access Bank

Bidvest relaunches the sale of Bidvest Bank following the collapse of its deal with Access Bank, focusing on hygiene and B2B services.

By: AXL Media

Published: Mar 3, 2026, 3:02 AM EST

Source: The information in this article was sourced from Daily Investor

Relaunch of Financial Services Disposal

The Bidvest Group has announced the formal relaunch of the sale process for Bidvest Bank, marking a renewed effort to divest from the financial services sector. This move comes after a proposed transaction with the Nigerian lender Access Bank was terminated due to a failure to meet regulatory approval deadlines. In its interim results for the period ending December 31, 2025, Bidvest expressed confidence in executing the disposal and indicated plans to accelerate the transaction timeframes to ensure a successful exit.

Strategic Shift Toward Core Operations

The sale of the banking unit is the final pillar of a wider strategy to simplify the Bidvest portfolio by offloading non core financial assets. The group has already made significant progress in this regard, having sold 100% of FinGlobal to Momentum for 201 million Rand in April 2025. Additionally, the sale of Bidvest Life is currently on track, with the company receiving a binding offer of 130 million Rand. These divestments are intended to free up management capacity and capital to pursue bolt on acquisitions in more profitable service segments.

Strong Financial Performance Amid Divestment

Despite the complexity of these disposals, Bidvest reported robust financial growth in its interim results. Revenue increased by 4% to 66.7 billion Rand, while trading profit saw a 7% rise to 6.7 billion Rand. The group’s focus on operational efficiency has resulted in a trading profit margin exceeding 10% and a 36% surge in cash generation, totaling 6.1 billion Rand. These metrics suggest that the strategy to refocus on business to business solutions is yielding positive returns for shareholders.