Bidvest Revives Bank Sale After Failed Access Deal

Bidvest, a B2B services, trading, and distribution group, has relaunched the process to dispose of Bidvest Bank. The previous sale to Access Bank did not proceed due to the failure to secure necessary regulatory approvals. This development was announced alongside the group’s interim results for the six months ended December 2025, which indicated steady earnings growth.

The bank divestment is part of a broader strategic shift for Bidvest, aimed at focusing on its core B2B operations and enabling further acquisitions.

Financial Performance

Bidvest’s group revenue increased by four percent to R66.7 billion during the reported period. Trading profit rose by seven percent, with the trading profit margin exceeding 10 percent. Cash generation also saw a significant increase of 36 percent. All divisions within the group reported positive profit growth, with the hygiene business highlighted as a particularly strong performer. Headline earnings per share and normalized earnings per share increased by 5.1 percent and 5.3 percent respectively. An interim dividend of 495 cents per share was declared, a 5.3 percent year-on-year increase.

Strategic Exits and Acquisitions

Last April, Bidvest completed the sale of FinGlobal to Momentum for R201 million. A binding offer of R130 million has been received for Bidvest Life, and the disposal of this business is currently progressing. These exits are intended to sharpen the group’s focus on its core B2B services, trading, and distribution operations.

Global Operations and Strategic Priorities

Bidvest operates over 250 businesses globally, primarily providing business-to-business solutions. The company is actively scaling its global hygiene platform, which now accounts for 55 percent of international trading profit.

Economic Outlook

Bidvest expressed a cautiously optimistic view of the South African operating environment. Factors cited as potential tailwinds include declining inflation, low interest rates, upward revisions to growth forecasts, improved sovereign credit profile, and firm commodity prices. Structural reforms in electricity and rail, along with South Africa’s removal from the Financial Action Task Force grey list, are also expected to positively impact investment flows. Management emphasized that operational agility, innovation, and free cash flow generation will remain the group’s primary focus.

Key Milestone

The successful disposal of Bidvest Bank is now a key near-term milestone as Bidvest continues to reshape its portfolio toward higher-return core operations.

Bunmi Bailey, Assistant Editor, Finance (Africa), BusinessDay, contributed to this report.