Bidvest, a B2B services, trading, and distribution group, has relaunched the process to dispose of Bidvest Bank after its proposed sale to Nigerian lender Access Bank fell through following the failure to meet the long-stop date for regulatory approvals.
The development coincided with the South African group’s interim results for the six months ended December 2025, which showed steady earnings growth supported by margin expansion and strong cash generation.
“The sale process has been relaunched, and we remain confident in our ability to successfully execute this disposal and will accelerate transaction timeframes,” Bidvest said in results released Monday.
The bank divestment forms part of a broader strategic exit from the group’s financial services segment, which also includes FinGlobal and Bidvest Life.
Last April, Bidvest completed the sale of FinGlobal to Momentum for R201 million. The disposal of Bidvest Life is progressing, with the company confirming it has received a binding offer of R130 million for the business.
Management said the exits are designed to sharpen focus on the group’s core B2B services, trading and distribution operations while creating room for bolt-on acquisitions.
The strategy is already feeding through to performance. Group revenue rose by four percent to R66.7 billion in the period, while trading profit increased seven percent Trading profit margin moved above the 10 percent mark, and cash generation jumped 36 percent.
All divisions delivered positive profit growth, although management highlighted the hygiene business as a standout performer in its communication to shareholders.
Bidvest operates more than 250 businesses globally and focuses primarily on business-to-business solutions that support corporate operations. Its activities span facilities management, hygiene and cleaning services, security, and travel.
The company continues to scale its global hygiene platform, a key strategic priority. The segment now accounts for 55 percent of international trading profit, underlining its growing importance within the portfolio.
On the earnings front, continuing operations headline earnings per share and normalised earnings per share — the group’s preferred performance metrics — increased by 5.1 percent and 5.3 percent respectively.
The board declared an interim dividend of 495 cents per share, up 5.3 percent year on year, reflecting confidence in cash flow strength and balance sheet flexibility.
Looking ahead, Bidvest struck a cautiously optimistic tone on the operating environment, particularly in South Africa.
“Our macroeconomic view is that, in South Africa, there is reason for optimism. Interest rates are at their lowest in more than two decades, inflation is declining and will remain modest given the newly adopted inflation target of three percent,” the company said.
Bidvest added that upward revisions to 2026 growth forecasts, an improved sovereign credit profile and firm commodity prices should provide supportive tailwinds.
The group also pointed to ongoing structural reforms in electricity and rail, as well as South Africa’s removal from the Financial Action Task Force grey list, as developments that could unlock stronger investment flows.
However, management cautioned that macro conditions remain largely outside its control, reiterating that the company’s primary focus will remain on operational agility, innovation and free cash flow generation.
The successful disposal of Bidvest Bank now becomes a key near-term milestone as the group continues reshaping its portfolio toward higher-return core operations.
