Access Bank’s Bidvest Acquisition Scrapped, But South Africa Plans Unaffected

Access Bank’s proposed acquisition of Bidvest Bank has expired without completion, the bank has announced.

The deal, which was valued at an undisclosed sum, had a long-stop date of January 26, 2026, which passed without regulatory approval.

Access Bank cited complexities and extended timelines in multi-jurisdictional regulatory processes as the reason for the deal’s collapse.

Despite this, the bank remains committed to its South Africa and Pan-African trade strategy, and is exploring alternative paths to closure.

Commenting on the development, the Bank’s Managing Director, Mr. Roosevelt Ogbonna said: “We remain constructively engaged with stakeholders on this transaction towards finding a potential path to closure. This initial outcome does not diminish our confidence in South Africa’s financial ecosystem. We remain focused on building Africa’s most respected financial institution, strengthening our trade finance capabilities and delivering long-term value to customers, partners and communities across all our markets. We thank the Board and Management of Bidvest for their patience and support throughout this process.”