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South Africa

Bidvest Group in S.A to Sell Bidvest Bank and FinGlobal for Sustainable Growth

todayJuly 5, 2024 21

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Bidvest Group In S.A has announced plans to sell Bidvest Bank and FinGlobal, aiming to secure dedicated financial services ownership for sustainability. Group CEO Mpumi Madisa stated that the disposal process seeks to find a buyer by year-end, pending regulatory approvals. The remaining insurance businesses will be integrated into Bidvest’s automotive division. Madisa emphasized that this strategic restructuring aims to facilitate sustainable growth and value creation for stakeholders, assuring customers that Bidvest Bank will remain operationally stable during the transition.

Written by: Leonard Witbeen

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