South Africa’s Leading Duty-Free Retailer Undergoes Major Ownership and Leadership Revamp
South Africa’s premier duty-free operator Big Five Duty Free has announced a substantial shareholder restructuring with Maponya Investment Holdings acquiring a major stake. The company simultaneously promoted Lloyd Mhlanga to CEO as it positions for accelerated growth across African travel retail markets.
Ownership Transformation at Big Five Duty Free
South Africa’s dominant duty-free retailer Big Five Duty Free is undergoing a significant corporate restructuring with the addition of a new major shareholder and appointment of a new chief executive officer, according to reports. The company, which operates primary outlets at Johannesburg, Cape Town, and Durban airports, has welcomed Maponya Investment Holdings (MIH) to its ownership structure while promoting eight-year general manager Lloyd Mhlanga to the CEO position.