Former CFO Mthethwa returns to take ACSA hot seat

Airports Company South Africa (ACSA) has appointed its former chief financial officer, Siphamandla Mthethwa, to take over as the company's new chief executive officer on November 1. Mthethwa served as CFO at ACSA from 2020 to 2023 before leaving the company. His appointment comes after a tumultuous period for the airport operator, marked by procurement controversies, court battles, and governance issues under his predecessor Mpumi Mpofu.

Mpofu's tenure was marred by allegations of misrepresenting her academic qualifications, as well as scrutiny over senior appointments and procurement. The Gauteng High Court even interdicted an emergency security tender, while a R115 million biometric contract was embroiled in a dispute that led to the suspension of ACSA's chief information officer.

During his time at ACSA, Mthethwa will be tasked with implementing Project Reignite, which aims to address complaints, operational problems, and capital expenditure to restore customer experience. The company, which recorded a R1.99 billion profit before tax and a R1.2 billion profit after tax for the year ended March 2026, has seen revenue reach R8.8 billion. However, infrastructure delivery has fallen short of expectations, with only R2.58 billion against the planned R3.6 billion.

Since Mpofu's departure, interim CEO Charles Shilowa has led the company until his replacement by Mthethwa. As ACSA prepares to tackle its challenges, the board chair, Irvin Phenyane, emphasized the urgency of the situation, stating that the company has set a 90-day deadline between now and Christmas to address the complaints and issues raised by various stakeholders.