Access Bank has signed an agreement to acquire Bidvest Bank, a South African financial institution. The deal, announced by Access Holdings, aims to strengthen the bank’s presence in South Africa and enhance its role as a gateway to global markets. The acquisition is expected to be completed in the second half of 2025, subject to regulatory approval.
Founded in 2000, Bidvest Bank offers corporate and retail banking services. The merger will combine Bidvest Bank with Access Bank’s existing South African operations to create a larger platform for growth in the Southern African Development Community (SADC) region. Bidvest Bank’s assets are valued at $665 million, with a $20 million profit reported in its last financial year.
Access Bank’s CEO, Roosevelt Ogbonna, said the acquisition supports its goal of expanding across Africa. He emphasized that combining Bidvest Bank’s local expertise with Access Bank’s trade and retail strengths will drive long-term growth. Bidvest Group’s CEO, Mpumi Madisa, expressed confidence in Access Bank’s ability to sustain and grow the business.