Bidvest Group

Last updated

Bidvest Group Limited
Company type Public company
JSE: BVT
Industry Conglomerate
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)
Website www.bidvest.com

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

Contents

History

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

References

  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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