Airports Company South Africa (ACSA) has appointed Siphamandla Mthethwa as its new Chief Executive Officer, reappointing a former senior executive back to the company as it prepares for billions of rands in investment across the country’s airports.
Mthethwa will take over from acting CEO Charles Shilowa on 1 November 2026. He will also join the ACSA Board as an executive director.
The appointment follows the departure of Mpumi Mpofu, whose six-year fixed-term tenure as CEO ended on 30 June. Shilowa, who is ACSA’s Group Executive for Capital Infrastructure Asset Management, has served as acting CEO since 1 July. ACSA announced the leadership transition in May.
Mthethwa is already familiar with the organisation. He served as ACSA’s Chief Financial Officer and executive director from 2020 to 2023, including during the most difficult period of the COVID-19 pandemic for the aviation industry.
According to ACSA’s announcement, he led a R6 billion funding programme during his previous tenure and oversaw the implementation of the company’s financial recovery strategy. He also facilitated the issuing of a R1.8 billion bond without a government guarantee. The bond was part of a larger R6 Billion funding programme and financial recovery strategy which led to rapid business stability during the pandemic.
Mthethwa is a chartered accountant and has more than 20 years of leadership experience across several sectors, including aviation, energy, mining, telecommunications, utilities and financial services.
ACSA Returns to Strong Financial Position
The appointment comes as ACSA enters a new phase after several years of recovery following the pandemic.
The company reported a net profit of R1.2 billion for the 2025/26 financial year, representing a 5.2% increase on the previous year. Revenue rose by 11.6% to R8.8 billion, while EBITDA reached R2.8 billion.
Aeronautical revenue increased by 15.2% to R4.7 billion as aircraft activity recovered, while non-aeronautical revenue grew by 7.7%, supported by activities including retail, property rentals, parking and hotel operations. The results follow ACSA’s record R1.1 billion net profit for 2024/25, more than double the R472 million recorded in the previous financial year. ACSA described that performance as making it one of South Africa’s best-performing state-owned entities.
The company is now using an imminently stronger financial position to move into a major infrastructure investment cycle.
Billions Planned for Airport Upgrades
ACSA’s 2025/26 Integrated Annual Report set out a R21.7 billion airport upgrade programme for the next five years, covering major projects at O.R. Tambo International Airport, Cape Town International Airport and other airports across its network.
The redevelopment projects are aimed at expanding and modernising ACSA’s current airport infrastructure, while improving the passenger experience, and its operational resilience. ACSA operates nine key airports in South Africa, including O.R. Tambo, Cape Town International and King Shaka International. Its network also includes airports in the Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Northern Cape and Western Cape.
Mthethwa will therefore take over as the airport operator moves from recovering from the pandemic towards expansion, with significant infrastructure spending planned over the coming years.
His appointment takes effect on 1 November, when Shilowa will depart the role, ending his four-month tenure as acting CEO.