Fundi Sithebe to take the reins at new operator 4Racing

One of the best-kept secrets in South African horse racing was revealed at the weekend when Fundi Sithebe was unveiled as the person who will lead the monumental task of reshaping the troubled game.

For racing followers who have long complained about the “same old crowd” running things into the ground, Sithebe’s appointment might be a happy surprise. For those who say racing should be shaped by people who know the industry, it might not be welcome.

Sithebe has little or no experience in racing, coming from an info-tech and aviation business background – albeit at a high level.

The announcement that Sithebe would become CEO of 4Racing – the new operating company to replace Phumelela – from 1 June 2021 was made at the Champions Day race meeting at Turffontein on Saturday.

“I am very excited to have been presented with this opportunity and I look forward to engaging with all the stakeholders as 4Racing proceeds with the vital transformation and rebuilding of the South African horseracing industry,” said Sithebe.

The 4Racing name and brand was announced in the preceding week. It emerges out of an official business rescue process begun when Phumelela collapsed financially about a year ago.

Mary Oppenheimer Daughters, the business grouping of racing doyenne Mary Slack and her daughters, pumped money into shaping a rehabilitation plan for racing after the rescue process.

A press release from 4Racing said the company had been established “with the purpose of stabilising, protecting, and radically transforming the horse racing industry at every single level”.

“4Racing’s focus is on establishing a solid foundation from which the industry can once again thrive for the benefit of all stakeholders, starting with the workforce of racing, but importantly also partnering broadly to drive and deliver collaborative, inclusive and disruptive growth in jobs and the economy of horseracing.”

The release revealed that new CEO Sithebe holds a Bachelor of Business Administration from Midrand University and a Post Graduate Diploma in Management (Business Administration) from Wits Business School.

“She started her career as a management consultant at Deloitte, focusing on the areas of strategy and operations in organisational strategic projects. She was part of the expansion team for First National Bank of South Africa that crafted a way forward and was responsible for the successful establishment of operations in Africa.

“Fundi was previously the chief operating officer of Airports Company SA, from December 2017 until her departure on 30 April 2021, responsible for the integration and seamless operations across the network of nine airports. In addition, she led the commercial division, which is mainly responsible for non-aeronautical revenue. Her passion in the aviation industry was sparked in 2003 when she obtained her private pilot’s licence(PPL).”

The reaction to the appointment from racing fans on internet forums has been relatively muted – probably because Sithebe is unknown in the game. In response to the few negative comments are observations that ACSA has been one of the best-run state-owned enterprises and a far cry from its bankrupt and dysfunctional cousins

The new chairperson of the 4Racing, Mxolisi Zwane, a High Court attorney and prominent arbitrator, was announced several weeks ago. He said he was delighted to welcome Sithebe to 4Racing.

“While her recent background has been in the aviation industry, Fundi has an excellent track record in the business world and has the ability to help restore South African horseracing to its former glory. She understands the vision we have for the racing industry.”

The press release quoted Sithebe: “I was very pleased with the news of the approval of the transaction from the Competition Commission. Now focus will be on attaining all the necessary licensing from the gambling boards. There is still plenty of work to be done, but 4Racing is optimistic that the necessary pieces will start falling into place.”

It added: “A key objective of 4Racing in the short term is the Digital transformation of the industry as they seek to elevate South African racing, not only to improve the experience for existing participants but to attract a whole new audience.

“Plans are being drawn up for large-scale investment into improving the product for the betterment of all stakeholders.

“Special attention is being paid to ensuring the products and services are easier for partners to carry and deliver to their customers, while 4Racing also aims to build on existing international partnerships to maximise revenue opportunities and improve the showcasing and broadcast of South Africa’s world-class racing product both locally and abroad.

“4Racing will be engaging extensively with government to create a platform to build a better understanding of horseracing and to gain the state’s support as they seek to rebuild the industry from the bottom up.

“4Racing took over the sponsorship of Champions Day to launch the 4Racing brand to the wider industry, while simultaneously bolstering prize money for the day’s seven feature races.”