Access Bank’s bid to purchase South Africa’s Bidvest Bank collapses 

Access Bank’s proposed acquisition of a 100 per cent stake in South Africa’s Bidvest Bank has collapsed after the events did not safe all required regulatory approvals.

The event was disclosed by Bidvest Group, the mum or dad firm of Bidvest Bank, in an replace to shareholders on Monday.

The collapse brings to an finish a deal that was anticipated to considerably broaden Access Bank’s footprint in Southern Africa.

What they’re saying 

Bidvest mentioned the transaction was topic to customary situations precedent, together with regulatory approvals, which weren’t absolutely met by the agreed long-stop date.

Consequently, the Johannesburg Inventory Trade-listed group confirmed that the sale settlement has been terminated.

• “It’s unlucky that sure situations weren’t fulfilled by Access Bank plc by the contractually agreed longstop date, ensuing within the termination of the transaction,” Bidvest mentioned.

The group added that it has now relaunched the disposal course of and is shifting forward with various choices.

• “Bidvest has now relaunched the disposal course of. We stay assured in our potential to efficiently execute this disposal and can endeavour to speed up transaction timeframes,” the corporate said.

As of the time of this report, Access Bank had not issued a proper response to the event.

Bidvest, nevertheless, maintained that the restructuring of Bidvest Monetary Companies stays sound and that the choice to eliminate the bank continues to be a strategic crucial.

Backstory

The collapsed deal was first introduced in 2024 when Entry Holdings Plc disclosed that its flagship subsidiary, Access Bank Plc, had entered right into a binding settlement with The Bidvest Group Restricted to purchase 100% of Bidvest Bank.

• The acquisition fashioned a part of Access Bank’s broader technique to deepen its presence throughout Africa and place itself as a key gateway to international markets.
• The transaction was valued at about N238.75 billion, equal to R2.8 billion.
• On the time, the Nigerian lender mentioned the deal underscored its ambition to strengthen its operations in Southern Africa and improve cross-border banking providers.

The acquisition was initially anticipated to be accomplished within the second half of 2025. Nevertheless, the method confronted delays attributed to regulatory bottlenecks, because the deal required approvals from a number of authorities in each Nigeria and South Africa.

Extra insights  

Following the collapse of the transaction, Bidvest mentioned it has reinstated itself as the only real shareholder of Bidvest Bank and can proceed to supply help to make sure stability through the transition interval. The group pressured that the bank stays financially wholesome and operationally sound.

• Bidvest mentioned the bank is effectively capitalised, with all key ratios above minimal regulatory necessities.
• The group famous that the welfare of staff and the upkeep of high-quality service requirements for shoppers stay priorities.
• It added that Bidvest Bank will proceed to function usually whereas the disposal course of is relaunched.

Had the acquisition been profitable, Bidvest Bank would have been merged with Access Bank’s present South African subsidiary.

The mixed entity was anticipated to help Access Bank’s regional progress technique throughout the Southern African Growth Neighborhood area.

What you must know  

The collapse of the Bidvest Bank deal comes regardless of Access Bank’s latest success in increasing its worldwide footprint.

• In July 2025, Access Bank, by means of its wholly owned subsidiary Access Bank UK Restricted, accomplished the acquisition of a 76 per cent majority stake in AfrAsia Bank Restricted, a Mauritius-based industrial bank.
• The AfrAsia transaction acquired all required regulatory approvals from the Bank of Mauritius and the Monetary Companies Fee.
• AfrAsia Bank, which is headquartered within the Mauritius Worldwide Monetary Centre, additionally maintains a consultant workplace in South Africa, serving shoppers throughout a number of high-growth markets.

The acquisition added AfrAsia’s platform to Access Bank UK’s present worldwide community spanning London, Dubai, Paris, Hong Kong, Malta, and Lagos, reinforcing the group’s technique of constructing a powerful international banking franchise anchored in Africa.