Big Five Duty Free, Sub-Saharan Africa’s leading travel retail operator, today announced a transformative strategic shift with the entry of Maponya Investment Holdings (MIH) as a significant new shareholder, and the appointment of industry veteran Lloyd Mhlanga as its new Chief Executive Officer.
This strategic combination of aligned, purpose-driven South African capital and seasoned leadership marks the beginning of an ambitious new growth chapter for the company, which operates key retail locations at Johannesburg, Cape Town and Durban airports.
The investment by MIH, a leading family-run business with a legacy of decades of successful South African entrepreneurship, establishes a formidable shareholder base.
MIH joins existing main shareholder German travel retail giant Gebr. Heinemann, and other existing investors including luxury goods leader CAVI Brands; and the women-owned investment consortium of Zithezava and Rumbi Investments.
As a result of this transaction, Broad-Based Black Economic Empowerment (BBBEE) ownership has increased substantially, strengthening the company’s commitment to meaningful economic transformation.
Elias Phatudi Maponya, CEO of MIH, will assume the role of Board Chairman of Big Five Duty Free.
“South Africa’s airports already offer inspiring getaways that reflect the spirit of our nation. 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,” said Maponya.
The Maponya family business brings patient capital and extensive experience in governance, execution, and retail place-making to Big Five Duty Free. This move also renews the strategic partnership between the Maponya family and CAVI Brands, uniting to support the retailer’s next phase of sustainable growth.
Stepping into the role of CEO is Mhlanga, the company’s former General Manager of eight years. With over two decades of experience in retail management and international duty-free operations, Mhlanga is tasked with driving commercial performance and overseeing the next phase of expansion. His critical operational knowledge ensures continuity and a sharp focus on value creation.
“I am honoured to lead Big Five Duty Free into its next chapter,” added Lloyd Mhlanga, CEO. “Together with our employees, shareholders and the Heinemann network, our partnership will drive sustainable growth.”
These strategic moves position Big Five Duty Free for accelerated, transformation-led growth. The company’s future-focused vision includes:
- Expanding and upgrading its retail footprint at major South African airports.
- Strengthening partnerships with regional airport authorities across Sub-Saharan Africa.
- Supporting South African SMEs, especially women-owned businesses.
- Enhancing the traveler experience through tailored product assortments and bespoke services.
With a strengthened shareholding structure, empowered leadership, and a clear strategic direction, Big Five Duty Free is uniquely positioned to redefine the airport retail experience and shape the future of travel retail in Sub-Saharan Africa.