JP Morgan buys $30 million in new shares of Mpumi Madisa-led Bidvest

Key Points

• JP Morgan ups Bidvest stake to 6.68%, investing an additional $30 million in the South African industrial and services giant.
• The move signals confidence in CEO Mpumi Madisa’s leadership and Bidvest’s resilience across freight, automotive, and service sectors.
• JP Morgan’s combined investments in Bidvest and Bidcorp show a long-term bet on South African firms with strong fundamentals.

JP Morgan Chase & Co., the world’s largest bank by market capitalization, has stepped up its investment in South Africa’s Bidvest Group Limited, purchasing an additional $30 million worth of shares. The move highlights the bank’s growing confidence in the industrial and services company, led by CEO Mpumi Madisa.

The share acquisition, disclosed in a regulatory filing on Apr. 15, increased JP Morgan’s stake in Bidvest from 5.03 percent to 6.68 percent — a 1.65 percent rise. It’s a clear vote of confidence in Bidvest’s wide-ranging operations, which include freight, services, and automotive solutions.

Strengthening its position in South Africa

This $30 million investment builds on JP Morgan’s recent bets on South African businesses that have shown resilience despite a challenging global economy. The bank’s initial 5.03 percent stake, revealed in January 2025, was valued at R4.42 billion ($241.29 million). With the new purchase, its total holding in Bidvest is now worth R5.12 billion ($272 million).

Under the leadership of Mpumi Madisa, one of the most respected figures in South African business, Bidvest has stayed on course, adapting to market shifts while expanding across its core sectors. The company’s steady performance and focus on efficiency have helped it remain a key player in the country’s industrial landscape.

Part of a bigger South African strategy

JP Morgan’s interest in South Africa goes beyond Bidvest. Back in January, the bank also increased its stake in Bidcorp, a global foodservice distributor led by Bernard Larry Berson, from 4.99 percent to 6.91 percent. That deal was worth R10.28 billion ($542.28 million).

Taken together, the two investments show a clear pattern: JP Morgan sees long-term value in South African firms with strong fundamentals and capable leadership. At a time when many global investors are cautious, the bank is signaling its belief in the country’s business potential.

Regulatory steps and market confidence

As required by South African regulations, Bidvest has filed a notice with the Takeover Regulation Panel to formalize the change in shareholding. While procedural, it’s an important step that reflects both parties’ commitment to transparency.

JP Morgan’s growing presence in Bidvest and Bidcorp is more than just a portfolio adjustment — it’s a statement of trust in companies that are well-managed, forward-looking, and positioned to thrive even in uncertain times.