Pan-African investor Harith eyes FlySafair deal

Budget airline FlySafair could soon have a new majority shareholder, with Pan-African investment firm Harith edging closer to finalising a deal that may reshape South Africa’s domestic aviation landscape. The Witnessreportsthat despite the airline’s insistence that the transaction is unrelated to regulatory pressure, the deal would resolve foreign ownership and voting concerns that have followed the carrier since 2024. The Citizenfirst reported on the proposed deal in November last year.

Founded in 2006, Harith General Partners is a Pan-African investor and infrastructure developer managing more than $1.2 billion in assets across sectors, including transport, energy, digital infrastructure, public health, and water and sanitation. As fund manager for the Pan-African Infrastructure Development Fund (PAIDF), Harith manages investments across Botswana, Ghana, Kenya, Malawi, Nigeria, South Africa, Zimbabwe and Côte d’Ivoire. While primarily focused on infrastructure, the FlySafair deal would mark Harith’s most significant aviation investment.

The firm previously pursued stakes in the failed Takatso Consortium bid for South African Airways (SAA), while Mango and Comair were also linked to its acquisition ambitions. FlySafair now appears to be the first deal likely to reach completion. FlySafair marketing manager Kirby Gordon said the transaction was not prompted by licensing council demands for clarity on local ownership.

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However, the deal would secure the airline’s standing with both domestic and international licensing authorities. The airline has defended its ownership structure since 2024. The proposed transaction could see FlySafair become indirectly government-owned through Harith, a development that has sparked debate within the aviation sector. Aviation analyst Guy Leitch said the move raises concerns.

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