Access Bank South Africa names Abiodun Dada Co-CEO ahead of 2026

Access Bank South Africa announced that Chief Executive Officer Sandile Shabalala will step down in March 2026, after steering the lender through growth and consolidation. He will remain in place until then to ensure a smooth handover and continuity for staff, customers, and stakeholders.

Board Chair Patrick Mathidi thanked Shabalala for his leadership. “We extend our sincere appreciation to Sandile for the discipline and leadership he has brought to Access Bank South Africa. He has played an important role during a period of growth and change,” Mathidi said.

The South African Reserve Bank approved Abiodun Dada as Co-Chief Executive Officer. Dada will work alongside Shabalala, managing daily operations and liaising directly with major clients and regulators. He previously led corporate banking portfolios across energy, trade, and structured finance for Access Bank Group, supporting multinational and regional corporate clients.

Mathidi emphasised stability during the transition: “Our priority during this period is to maintain focus on our customers, our people, and the markets we serve. We are committed to a steady, transparent process that reflects strong governance.”

The leadership change comes months after Access Holdings Plc, the Nigerian parent, agreed to acquire Bidvest Bank Holdings Ltd. for 2.3 billion rand ($133 million), consolidating its operations as Access Bank’s South Africa. The acquisition strengthens the South African division, which posted a ₦17.39 billion ($11.2 million) loss in the first nine months of 2024. Bidvest Bank, in contrast, reported $20 million in pre-tax profits by mid-2024, providing an immediate lift once the deal closes.

For Access Holdings, the move aligns with a broader strategy to integrate acquisitions across Africa. Dada’s cross-market experience positions him to guide that process while maintaining operational discipline locally.

South Africa remains central to Access Bank’s pan-African expansion, alongside Kenya, Botswana, and Mozambique. The leadership handover signals a step toward consolidating southern African operations while balancing growth and governance.

In short, the transition is both a continuity measure and a strategic move to support Access Bank’s expanding footprint in Africa’s most industrialised economy.