Momentum Group To Acquire FinGlobal From The Bidvest Group

Momentum Group To Acquire FinGlobal From The Bidvest Group. Momentum Group Limited (Momentum) has concluded an agreement with The Bidvest Group Limited (Bidvest) to acquire 100% of Bidvest’s share in FinGlobal Migration Proprietary Limited (FinGlobal).

Johann le Roux, CEO of Momentum Retail, says: “This acquisition supports our stated strategic intent to invest in financial advice to drive growth. FinGlobal’s financial emigration capabilities will not only strengthen Momentum’s existing holistic financial planning, advice and fiduciary capabilities, but also support other industry players’ service offerings. Global mobility and emigration amongst affluent and high net worth clients will continue in future. Advice plays a critical role in managing the financial realities of global mobility in a responsible way. The combination of Momentum’s advice capabilities and FinGlobal’s expertise will be of great benefit to clients,” Le Roux concluded.

Ryno Viljoen, CEO of FinGlobal says: “We are delighted to join Momentum, as we believe it will not only be a great strategic fit but also a cultural one. Our shared values and goals, combined with our expertise in South African expat financial affairs developed over the last 15 years, position us well to broaden our collective value propositions to clients”.

All FinGlobal employees will be retained as part of the transaction. The transaction is subject to customary terms and conditions, including approval by the competition authorities.