When Mpumi Madisa officially took the reins of Bidvest in 2020, she became the first Black female CEO of a top-40 company on the Johannesburg Stock Exchange. Despite taking over leadership during the COVID-19 pandemic, Bidvest thrived under her leadership, achieving a remarkable 15% increase in trading profit estimated at R9.7 billion ($528.2 million) despite the economic downturn.
Forbes likened Bidvest to a South African version of Berkshire Hathaway (an American multinational conglomerate holding company). With a diverse portfolio spanning financial services, pharmaceuticals, and freight management, Bidvest employs nearly 130,000 employees and has a market capitalisation of about $5.3 billion.
The CEO, who holds degrees in economics, mathematics, and finance from Wits University, Johannesburg, began her career at Hollard Insurance, Prestige (a Bidvest subsidiary), and the Gauteng Department of Agriculture before joining Bidvest in 2003. She spent nearly two decades within Bidvest, occupying various roles, including Group Sales and Marketing Director and Executive Director.
Leading with strategy, sustainability, and growth
One of Madisa’s most significant strategic moves has been steering Bidvest into the renewables and alternative energy sector. Over the years, the company has expanded its footprint in environmentally conscious ventures, including electric vehicle fleets and greywater wash bays.
Mpumi Madisa also strategically drives Bidvest’s expansion into North America and Europe. She has implemented cross-pollination programs within Bidvest to allow employees to rotate across different business units, build their skills and create a stronger corporate culture.
Since assuming office as CEO of Bidvest Group, the company, which operates on four continents with 250 companies worldwide, has experienced notable financial growth. In the year ending June 2024, revenue grew by 6.7% to R122.6 billion, with acquisitions alone contributing 2.9% to this increase.
Trading profit rose by 8.5% to R12.4 billion, with five of the company’s seven divisions reporting profit growth—including four with double-digit increases. In a discussion with eNCA, the CEO also shared that headline earnings per share rose by 6.6% for the year.
Most notably, Mpumi Madisa has been a vocal advocate for women in leadership. The business executive has created platforms for women and minorities within Bidvest, pushing for an environment where talent, not socioeconomic background, determines success. She is determined to mentor young women and create an enabling environment for them to rise professionally. The Choiseul 100 Africa study has recognised her as one of Africa’s top young leaders.
