ACCESS BANK BID TO BUY BIDVEST BANK COLLAPSES

Article By: Gilbert Manenye Nigerian banking group Access Bank Plc, which also owns Access Bank Botswana has revealed that its plan to acquire South African based Bidvest Bank has collapsed.

The deal, first announced in December 2024, was set to give Access Bank 100% ownership of Bidvest Bank, to strengthen the Nigerian group’s presence in the SADC region, following the acquisition of 78.15% of BancABC Botswana in 2021.

However, the long-stop date of the proposed acquisition, which was set on the 26th of January 2026, passed with some conditions, including regulatory approvals not fully met as per communication from the bank.

Access noted that the delay was due to complexities and extended timelines associated with multi-jurisdictional regulatory and transactional processes.