South Africa’s Tsabedze family strengthens Afrirent with CFO hire, Busmark deal

South African businessman Senzo Tsabedze is tightening Afrirent Holdings’ grip on the country’s transport value chain with the acquisition of Busmark 2000 Proprietary Limited and the latest appointment of veteran finance executive Shadi Makhuvele as Group Chief Financial Officer.

Afrirent bolsters leadership for next growth phase
The Competition Commission approved the Busmark transaction unconditionally in January 2026,  marking Afrirent’s second outright purchase. 

Afrirent will now step ahead to wholly own the Gauteng-based bus manufacturer, which has been in business rescue since 2021. The deal is expected to close before month-end.

Afrirent deepens manufacturing integration
Busmark produces commuter, semi-luxury and coach buses, as well as specialized vehicle bodies, including emergency response and safari units. The acquisition folds vehicle manufacturing into Afrirent’s fleet management, telematics and logistics platform, advancing Tsabedze’s push toward vertical integration.

The transaction forms part of Busmark’s approved rescue plan and is backed by the Industrial Development Corporation, helping stabilize a key original equipment manufacturer serving South Africa’s public and private transport sectors. Tsabedze said the move underscores a commitment to preserving local industrial capacity and protecting jobs.

Leadership strengthened for expansion
Makhuvele, effective Feb. 1, 2026, brings nearly 25 years of experience across strategy, financial planning, cost transformation and governance. Her appointment strengthens oversight as Afrirent scales beyond fleet management into manufacturing, hospitality and mining-linked services.

The twin moves follow a period of margin pressure and rising operating costs in the prior financial year, prompting a shift toward higher-margin, integrated operations designed to improve earnings resilience and reduce reliance on third-party suppliers.

Founded in 2003, Afrirent has grown from a fleet specialist into a diversified investment group spanning mobility, logistics, manufacturing and hospitality. The Busmark acquisition marks a decisive step in embedding industrial capability within its platform as it positions itself for its next phase of growth.