Airports Company South Africa (ACSA) on Friday announced the appointment of Siphamandla Mthethwa CA(SA) as Chief Executive Officer of ACSA, effective from November 1, 2026. ACSA said that it follows cabinet decision that was taken on September 23, 2026.
ACSA said that Mthethwa returns to ACSA after an absence of about three years, having previously served as the company’s chief financial officer through one of the most difficult periods of aviation history.
“He is a qualified chartered accountant with extensive experience in corporate finance, treasury management, strategic planning, risk management and executive leadership. Before joining ACSA, he held senior financial leadership positions across telecommunications, banking and mining.”
ACSA said Mthethwa joined ACSA at a time when airports were virtually empty, revenues had collapsed and the aviation sector faced an unprecedented liquidity crisis.
“As CFO, he played an important role in navigating ACSA through this period, including managing its funding and liquidity requirements while the company implemented measures to protect its long-term financial sustainability. ACSA’s 2022 financial reporting reflected both the severity of the pandemic, including a R1.5 billion loss before tax, and the beginnings of its recovery.”
ACSA said that his return comes at a very different moment in ACSA’s journey.
“The company has moved firmly into recovery, recording a landmark net profit of R1.1bn for the year ended March 31, 2025, more than double the R472m achieved in the previous financial year.”
Irvin Phenyane, ACSA chairperson said Mthethwa returns to an organisation he knows well, but at a very different moment in its journey.
“He helped ACSA navigate some of its darkest financial days when COVID19 brought aviation almost to a standstill. His financial acumen, understanding of the banking sector and ability to build strong stakeholder relationships were important during that difficult period. He helped steady the organisation during the storm; he now returns to help us build for the sunshine,” said Phenyane.
The ACSA board added that Mthethwa’s combination of institutional knowledge, financial expertise, stakeholder management skills and executive leadership will serve ACSA well as the company enters its next phase of growth, including the implementation of its major airport infrastructure investment programme.
ACSA Board said that it extended its sincere appreciation to Mr Charles Shilowa, who has served as Acting Chief Executive Officer since 01 July 2026. “ Shilowa provided leadership continuity following the conclusion of Ms Mpumi Mpofu’s fixed-term tenure and ensured stability while the Board undertook the process of appointing a permanent CEO.”
Phenyane said that they thank Shilowa for answering the call to lead during this important transition. “His professionalism, commitment and steady leadership ensured that ACSA continued to deliver while the Board completed this critical process.”
ACSA said that Mthethwa returns not simply to the ACSA he left, but to an organisation that has survived an extraordinary crisis and is rebuilding from a position of renewed financial strength. “The task ahead is to consolidate that recovery, strengthen operational excellence, invest in world-class airport infrastructure and position ACSA for sustainable growth.”
Phenyane concluded that ACSA has shown its resilience over the last 5 years, the next chapter is about building an ACSA that is financially sustainable, operationally excellent, trusted by its stakeholders and ready for the future of aviation.
Dr Simphiwe Madikizela, a senior lecturer in economics at Unisa’s School of Graduate Business and Leadership, said that the appointment of Siphamandla Mthetwa as the new CEO of ACSA comes at a particularly important point in the organisation’s development. “ACSA has recently demonstrated a significant improvement in its financial performance, with revenue increasing by 11.6% to R8.81 billion in the 2025/26 financial year, while profit before tax increased to R1.99 billion.From an economic perspective, the timing of this leadership transition is important because ACSA now needs to convert this improved financial performance into sustained long-term growth. The new CEO inherits an organisation that is in a stronger financial position, but also one that needs substantial investment in airport infrastructure, technology, passenger services and capacity.”
Madikizela added that his previous involvement in managing ACSA’s funding and liquidity during the difficult COVID-19 period means that he understands the organisation’s financial pressures as well as its operational environment. “The immediate challenge will therefore be to maintain the revenue momentum while ensuring that expenditure and capital investment remain sustainable. ACSA’s latest results show that both aeronautical and non-aeronautical revenues increased, which is significant because it demonstrates that the airport business is becoming more diversified rather than depending exclusively on passenger and aircraft-related income.”
yogashen.pillay@nationalmg.co.za