Big Five Duty Free makes strategic leadership and shareholder changes

Big Five Duty Free, Sub-Saharan Africa’s leading travel retail operator, is celebrating two  major milestones in its strategic journey: the appointment of a new Chief Executive Officer and the addition of a new shareholder to its ownership structure.

These developments signal a new era of growth for the company, reinforcing its commitment to investing in its people, elevating service standards, and contributing meaningfully to South Africa’s economy.

New Shareholder: Maponya Investment Holdings Joins Big Five Duty Free

Big Five Duty Free welcomes Maponya Investment Holdings as a new shareholder. The Maponya family business, rooted in decades of South African entrepreneurship, brings patient capital and experience in governance, execution, and retail place-making. This move follows the family’s investment in CAVI Brands, with both entities now partnering again to support the next phase of growth at Big Five Duty Free.

Alongside this new partnership, Big Five Duty Free continues to benefit from its diverse and longstanding shareholder base, including Gebr. Heinemann, CAVI Brands, and its Broad Based Black Economic Empowerment women shareholders Zithezeva and Rumbi Investments. These stakeholders contribute expertise across global travel retail, luxury beauty, and strategic governance, and remain actively engaged in driving the company’s growth and transformation.

With this strengthened shareholder structure, Phathudi Maponya, who has acquired a significant equity stake, will assume the role of Chairman of the Board, guiding strategic growth and transformation. “South Africa’s airports already offer inspiring getaways that reflect the spirit of our nation,” he said. “With aligned South African capital and world-class partners, we are ready to elevate this experience to the next level, making our national airports feel unmistakably ours - and genuinely world-class.”

Leadership Appointment: Lloyd Mhlanga Named CEO

Lloyd Mhlanga has been appointed Chief Executive Officer. With more than 20 years of experience in retail management and international duty-free operations, he will lead day-to-day operations, drive commercial performance, and oversee the next phase of expansion. His in-depth knowledge of the company’s operations is expected to provide both continuity and value.

“I am honored to lead Big Five Duty Free into its next chapter,” Mhlanga said. “Together with our employees, shareholders and the Heinemann network, our partnership will drive sustainable growth and reinforce our standing as the leading duty-free retailer in Sub-Saharan Africa.”

A Future-Focused Vision

These leadership and shareholder changes are independent but complementary steps toward a more inclusive, ambitious, and future-ready Big Five Duty Free. The company continues to invest in:

• Expanding and upgrading its retail footprint at major South African airports

• Strengthening partnerships with regional airport authorities and concession partners across Sub-Saharan Africa

• Supporting South African SMEs, especially women-owned businesses

• Enhancing the traveler experience through tailored product assortments and bespoke services

• Maintaining a continuous commitment to South Africa by building a dynamic, transformation-driven travel retail business

All key partners have demonstrated strong commitment to Big Five Duty Free’s new structure and shared vision for the future. With aligned leadership, empowered partnerships, and a clear strategic direction, Big Five Duty Free is well positioned to shape the future of airport retail in Sub-Saharan Africa.