Johannesburg, – An all-women-owned investment consortium, incorporating RUMBI and Zithezava, has successfully acquired a 28% stake in Big Five Duty Free (Big Five). This milestone transaction significantly boosts Big Five’s Broad-Based Black Economic Empowerment (BEE) ownership from 35% to 52%, aligning with South Africa’s economic transformation goals.

Led by Kedibone Mooi, RUMBI’s leadership team includes prominent figures like Zimkhitha Zatu-Moloi, Thenjiwe Vanda, and Nonhlanhla Mjoli-Mncube. Together, these experienced professionals bring a wealth of expertise in entrepreneurship, corporate governance, and mergers and acquisitions, particularly within the South African and African markets. Their collective vision extends beyond South Africa, with ambitions to expand the Big Five brand across the African continent.

Kedibone Mooi, currently an executive director at Big Five, brings over 15 years of entrepreneurship experience and holds an MBA. Commenting on the deal, she stated, “The conclusion of this transaction highlights the critical roles women are playing across industries in South Africa. RUMBI is proud to contribute to Big Five’s legacy and excited about the journey ahead as we grow the brand.”

The transaction has garnered significant attention, including praise from Nolo Masite, Lead Transaction Advisor from Greenswan, a boutique BEE and empowerment advisory firm. Masite remarked, “This deal is a landmark moment in the duty-free industry, enhancing shareholder value and contributing to transformation.”

Speaking on behalf of Big Five, Chris Harilaou emphasized the company’s commitment to meaningful transformation, aligning with Airports Company South Africa’s (ACSA) diversity and transformation goals.

This transaction not only strengthens Big Five’s standing in the South African economy but also marks a significant achievement in empowering women in business leadership.