South Africa's largest duty-free retailer, Big Five Duty Free, has welcomed Maponya Investment Holdings (MIH) as a new significant shareholder. Concurrently, Lloyd Mhlanga has been promoted to CEO, tasked with driving commercial performance and overseeing the company's expansion. MIH's acquisition of a substantial equity stake will see its CEO, Elias Phatudi Maponya, assume the role of board chairman. This development follows a year after an investment consortium including Zithezava and Rumbi Investments increased Broad-Based Black Economic Empowerment ownership to over 52%.
MIH, a diversified family-run business with interests in real estate, mining, energy, private equity, and gambling, manages over 4.81 billion South African rand in assets and emphasizes strategic partnerships and long-term development. The company aims to bring retail place-making expertise to Big Five and guide its strategic growth, with the new chairman expressing readiness to elevate the company's offerings at national airports.
Big Five Duty Free has outlined five key objectives: expanding and upgrading its retail footprint in South African airports, strengthening partnerships with regional airport authorities, supporting South African SMEs, enhancing traveler experience with tailored assortments, and building a transformation-driven travel retail business in South Africa.
In parallel, long-term partner Heinemann, a German travel retailer, is also looking to expand its presence in Africa. While diversifying elsewhere, Heinemann maintains a close focus on African markets, supporting ... download the app to read more
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