Access Bank will conclude South Africa’s Bidvest acquistion for $133 million
- Access Holdings Plc is acquiring Bidvest Bank Holdings Ltd. for 2.3 billion rand ($133 million).
- The acquisition price is lower than the initial valuation of 2.8 billion rand ($159 million).
- Access Bank's South African unit reported a loss of ₦17.39 billion ($11.2 million) in the nine months ending September 2024.
The acquisition of Bidvest Bank by Access Holdings is a strategic move that could potentially stabilize its South African operations. However, the lower acquisition price raises questions about the bank's valuation and future profitability. Further analysis is needed to assess the long-term impact of this acquisition on Access Bank's overall growth strategy in Africa.
