Female entrepreneur, Kedibone Mooi, has spearheaded a women-led consortium, Rumbi, into acquiring a stake in one of Africa’s leading duty-free retail brands. Picture: Supplied
In a transformative development for South Africa’s corporate landscape, the female-led investment consortium, Rumbi and Zithezava, has successfully secured a 28% stake in Big Five Duty Free, one of Africa’s foremost duty-free retailers.
The move has sparked excitement among its leaders, particularly Kedibone Mooi, who sees it as a pivotal moment for women in business to take the reins of economic transformation in the country.
Speaking exclusively to The Star this week, Mooi expressed her enthusiasm for the acquisition, highlighting the consortium’s dedication to empowering black women in the business sphere.
“It is time! Rumbi as a black woman-owned investment group, understands the need to participate and contribute to travel retail as a business. Hence the partnership with Big Five Duty Free,” she stated, underscoring the importance of representation in corporate South Africa.
Rumbi, an entity composed of seasoned professionals with a diverse skill set, aims to extend its influence beyond the borders of South Africa.
Mooi noted: “Our strategic focus in travel retail is not only in South Africa; we believe the African continent has the potential to play a significant role in this industry.”
This vision aligns with the consortium’s objective to propel travel retail across Africa to new heights.
Mooi emphasised that this partnership is rooted in shared values and ethics, stating: “Big Five Duty Free understands that we are not only investors, but the Rumbi team will participate in crafting the strategic direction of the organisation.”
The Rumbi team, comprising Mooi, Zimkhitha Zatu-Moloi, Thenjiwe Vanda, and Nonhlanhla Mjoli-Mncube, boasts extensive experience in entrepreneurship, corporate governance, strategic planning, and investment banking, making them well-equipped to contribute to Big Five’s success.
“This deal is a change maker for global travel retail. It is also exciting because Big Five Duty Free is the biggest travel retail company in Southern Africa,” Mooi said.
This landmark transaction is not solely about ownership; it represents a larger commitment to Broad-Based Black Economic Empowerment (BB-BEE), with Big Five’s black ownership stake rising from 35% to 52%.
Mooi asserted the consortium’s role as visionaries dedicated to advancing transformation within the South African economy.
“We are in it to make a difference and take travel retail in Africa to even greater heights,” she added.
With ambitious plans already under way to expand the Big Five brand across the African market, Rumbi’s leadership is steadfast in its mission to forge a path for women in leadership roles, ensuring that its expertise and insights shape the future of travel retail in the region.
“The conclusion of this deal signals the roles that women continue to occupy in all spaces in our country,” Mooi concluded, echoing the sentiment of empowerment that resonates throughout the consortium.
The Star
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