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Bidvest Group

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Bidvest Group Limited
Company typePublic company
JSE: BVT
IndustryConglomerate
FounderBrian Joffe
Headquarters
Johannesburg
,
South Africa
Area served
Africa
Key people
Bonang Francis Mohale (Independent non-executive Chairman), Nompumelelo (Mpumi) Thembekile Madisa (Group CEO)
ServicesServices, Trading, Distribution[1]
Number of employees
Approximately 132,870 (2017)
Websitewww.bidvest.com

Bidvest Group is a South African services, trading, and distribution company that owns a diverse set of businesses.

History

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Bidvest was founded in 1988 by Brian Joffe and listed on the Johannesburg Stock Exchange in 1990.[2] The Bidvest Group Limited has a corporate office in Johannesburg, South Africa. As of 2017, it employed approximately 132,870 people.[3]

The Bidvest Group Limited board comprises eleven members. In March 2019 Bidvest named Executive Director Mpumi Madisa as CEO-designate.[4] After the retirement of Lindsay Ralphs on 30 September 2020, Mpumi Madisa assumed the role of Bidvest CEO.[5]

A plan first developed in 2012 and coming to fruition in 2016 saw the conglomerate unbundle its businesses. It split into a number of different businesses and sold off some others. One of the biggest was the separating of the Bidvest Food Services into a new listed company named Bidcorp that would focus on the food production and distribution businesses.[6][7][8]

In December 2024, Bidvest Group sold its subsidiary Bidvest Bank to a Nigerian banking group's local South African subsidiary Access Bank South Africa for R2.8billion.[9][10]

See also

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References

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  1. ^ "The Bidvest Group Ltd - Stock price". Reuters. 2014. Archived from the original on 7 April 2014.
  2. ^ "Bidvest corporate website". Bidvest. 2016.
  3. ^ "Boost for Bidvest as Bid Corp lists on JSE". Fin24. 30 May 2017. Retrieved 20 September 2017.
  4. ^ "Mpumi Madisa officially appointed as Bidvest's first female CEO". The South African. 8 March 2019. Retrieved 18 March 2019.
  5. ^ "Mpumi Madisa to become Bidvest CEO from 1 October 2020". CFO South Africa. CFO South Africa. 14 September 2020. Retrieved 21 April 2022.
  6. ^ "Bulky Bidvest not appealing to all". Mail & Guardian. 3 February 2012.
  7. ^ "Bidvest grows profits in tough market conditions". Independent Online and Affiliated. 29 August 2026.
  8. ^ "Bidvest to unbundle into three separately listed companies; shares up 2%". Biz News. 8 February 2016.
  9. ^ "Access Bank seals deal to buy South Africa's Bidvest Bank". 13 December 2024.
  10. ^ "Access Bank Expands Footprint With Bidvest Bank Acquisition". News Central. 13 December 2024.
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