First Black CEO of a major horse racing operator in South Africa, leadership in horse racing and aviation industries
Title
Former CEO of 4Racing
Fundi Sithebe is a South African business executive, recognized as a pioneering figure in both the horse racing and aviation industries. She served as the chief executive officer (CEO[1]) of 4Racing, South Africa's largest horse racing operator, from June 1, 2021, until her resignation[2] announcement on March 13, 2025, effective May 31, 2025. Sithebe is widely noted as the first Black CEO of a racing company in South Africa, and potentially globally, marking a historic milestone in the sport's leadership.
Fundi Sithebe was born in Diepkloof, Soweto, South Africa. Sithebe matriculated at the age of 16 in 1995 from St. Anne’s Diocesan College a private school in Hilton. She attended Hilton College, an elite private school in KwaZulu-Natal, where she was among the first female students to complete A-Level studies in 1996. This experience significantly influenced her leadership philosophy and commitment to challenging gender norms. Sithebe later earned a Bachelor of Business Administration (BBA) from Midrand University and a Postgraduate Diploma in Management (Business Administration) from Wits Business School. In 2003, she obtained a Private Pilot's License (PPL), reflecting her longstanding interest in aviation.
Career
Sithebe began her professional journey in the financial and consulting sectors. She worked as a management consultant at Deloitte, specializing in strategy and operations, and later joined the expansion team of First National Bank (FNB) of South Africa. At FNB, she contributed to the bank's growth initiatives across the African continent, honing her expertise in business development and operational leadership.
Airports Company South Africa (ACSA)
From December 2017 to April 2021, Sithebe served as the Chief Operating Officer (COO[3]) of Airports Company South Africa (ACSA). In this role, she oversaw operations at nine airports, managed infrastructure development,[4] and spearheaded efforts to integrate safe, efficient, and profitable aviation services. Her tenure at ACSA solidified her reputation as a transformative leader[5] in high-stakes industries.
4Racing
On June 1, 2021, Sithebe was appointed CEO of 4Racing, becoming the first Black person to lead a major horse racing organization in South Africa. During her leadership, she focused on modernizing the industry, promoting diversity and inclusion, and ensuring sustainable growth. Her initiatives aimed to broaden the sport's appeal and accessibility, particularly in a field historically dominated by male leadership.
Fundi was appointed to the Board[6] of the World Tote Association at WoTA's General Assembly in 2022 in London. Sithebe was elected to the WoTA Board, which includes some of the most prominent figures in the global horseracing industry, by the members of WoTA's General Assembly. Sithebe announced her resignation on March 13, 2025, with her departure effective at the end of May 2025, prompting widespread discussion about her legacy and the future of South African horse racing.
BetWay Summer Cup
The BetWay Summer Cup also known as Africa’s Richest[7] boasting higher stakes than any other similar race in the continent has become one of Africa's most celebrated racing events, known as "The People's Race" for its broad appeal. Held annually at Turffontein Racecourse in Johannesburg, the Cup combines premium horse racing with fashion and community engagement. Since 4Racing partnered with Betway in 2022,[8] Sithebe[9] has focused on making horse racing more inclusive and accessible, attracting a younger, diverse audience. The event has seen significant growth, with the purse increasing from R2.5 million in 2022 to R6 million[10] in 2024, solidifying its status as Africa’s richest horse race. Sithebe also prioritizes the racing community, ensuring that each groom in the final field receives a R20,000 bonus, highlighting her commitment to all industry stakeholders.
Under her leadership other notable achievements are Champions Day[11] to be included in the prestigious Hong Jockey Club’s World Pool racing. A great milestone and achievement to have the Wilgebosdrift HF Oppenheimer Stakes[12] in the top 100 GR1 races in the world, a first for 4Racing and currently the only one in South Africa. Creative themes have enhanced the event’s allure, such as "The Golden Summer" in 2022 and "Summer Reign" in 2023, which celebrated bold fashion. Future themes, along with partnerships with Glamour Magazine and top entertainers, have transformed the Cup into a cultural festival. Sithebe aims for 20,000 spectators at Turffontein, inspired by international racing events, and envisions a vibrant future where the public engages actively in the Cup. Through her strategic vision, she has redefined the e BetWay Summer Cup as a dynamic celebration of sport, style, and community.
Achievements
Fundi Sithebe’s impact on 4Racing and the horse racing industry is more tangible. She took the helm on June 1, 2021, during a critical time post-Phumelela’s collapse,[13] aiming to rebuild and modernize the sport. Her key achievements include:
Transformation and Diversity: She pushed for greater inclusivity, notably by establishing the Grooms and Employees’ Trust[14] in 2023, handing 26% of 4Racing’s business to grooms and staff—unprecedented empowerment for a historically marginalized group. She also championed black participation, aiming to broaden the sport’s appeal and ownership base.
Digital and Broadcast Upgrades:[15] Under her leadership, 4Racing transitioned Racing 240 to high definition in 2024, boosting viewership and modernizing the industry’s media presence, aligning with her goal to attract new audiences.
Operational Turnaround: She oversaw the takeover from Phumelela, securing licenses and stabilizing operations, while increasing stakes (e.g., R207 million for 240 races in 2022 vs. R186 million in 2021), signaling financial revitalization.
Breaking Barriers: As a black woman in a traditionally white, male-dominated field, her very presence challenged norms, inspiring others, especially women, as highlighted in profiles like [16]gsport.co.za’s 2025 feature.
Sabbatical, Burnout and Covid-19
Fundi initially aspired to be a commercial pilot but, facing gender stereotypes, pursued a Bachelor’s and postgraduate degree in Business Administration from Wits Business School. She earned a private pilot’s license in 2003–2004 while at Deloitte as a management consultant. Her career included roles at FNB First Rand, the FIFA 2010 World Cup Local Organising Committee, and Airports Company South Africa (ACSA), where she was Chief of Staff (2015), Chief Operating Officer (2017), and briefly Acting CEO. The demands of managing ACSA during the COVID-19 pandemic led to burnout, prompting an intended sabbatical, which was cut short by her appointment at 4Racing despite lacking prior experience in horse racing or gambling.
Resignation
As she prepared to leave her role at Four Racing, Fundi reflected on her time as CEO with a mix of pride and bittersweet emotion during an interview with SABC Morning Live.[17] She expressed gratitude for the strides made in transforming South African horse racing, emphasizing the importance of increasing representation among black owners, trainers, and jockeys. Fundi hoped that the legacy of transformation would continue and acknowledged the strength of the partnership established with the Hong Kong Jockey Club.
She also emphasized her desire to inspire other women in the industry, highlighting that achieving leadership roles is possible despite the challenges faced. Fundi's journey served as a testament to resilience and the importance of balance in navigating a male-dominated field, leaving a hopeful message for the future of the sport and the women who aspire to lead within it.
Sizekhaya Holdings and Lottery Industry Involvement
In May 2025, Fundi Sithebe was appointed as a non-executive director of Sizekhaya Holdings,[18] a consortium awarded the fourth South African National Lottery and Sports Pools Licence.[19][20] Sizekhaya Holdings, led by KwaZulu-Natal businessmen Moses Tembe and Sandile Zungu, with a 40% stake held by Goldrush Group, aims to innovate South Africa’s lottery sector while adhering to National Lotteries Commission regulations.[21][22][23]
Sithebe’s appointment followed her tenure as CEO of 4Racing, South Africa’s largest horse racing operator, from June 2021 to May 2025, where she focused on transformation and growth in the betting industry.[24] As a non-executive director, she is expected to leverage her experience in regulated industries to guide Sizekhaya’s strategic initiatives, including expanding lottery accessibility and introducing innovative products like sports pools.[25] Her background in leadership roles, including at Airports Company South Africa (ACSA), and her academic credentials position her to contribute to the consortium’s goals of enhancing competition and social impact in the lottery sector.
Personal life
Sithebe has cited her upbringing in Soweto and her experiences as a woman in male-dominated fields as key influences on her leadership style. She is an advocate for inclusivity and has spoken about the importance of challenging the status quo to create opportunities for underrepresented groups. She has been described as a vocal advocate for diversity, Sithebe emphasizes the need to disrupt traditional norms, ensuring that underrepresented groups gain access to opportunities in horse racing and beyond. Her approach blends resilience with a passion for equity, driving her efforts to transform the sport into a more welcoming and accessible space for all.
Media
In an interview on the Power 98.7 podcast with host Nolutando, Fundi, discussed her role as Chief Executive Officer of 4Racing, a horse racing operator she has led for over two years then.[26] Appointed to stabilize and grow South Africa’s horse racing industry, Sithebe shared insights into her unconventional career path. After moving to the United States at age nine, she returned to South Africa, attending an all-girls school before completing her A-levels at Hilton College, an all-boys institution. Fundi reflected on her ambition to reach C-suite by age 35, noting the relentless pursuit of milestones left little room for rest. She highlighted the heightened pressures on women of color in leadership, acknowledging multiple instances of burnout and the difficulty of "switching off" under constant scrutiny. The discussion also touched on the concept of work-life balance, which Fundi described as complex, particularly for young women navigating career and societal expectations.[27] The interview underscored her resilience and the broader challenges of exhaustion and gender dynamics in executive roles.
International Horse Racing
Fundi, attended several prestigious global racing events, showcasing her engagement with the sport's elite competitions. She has been present at the Hong Kong Longines International Races, a renowned event held annually at Sha Tin Racecourse, featuring top-tier thoroughbreds from around the world.[28] Additionally, Sithebe has attended Royal Ascot in the United Kingdom one of the most historic and glamorous race meetings, known for its royal connections and high-class racing.[29] She has also participated in the Breeders' Cup in the United States, a premier championship event that attracts the finest horses, trainers, and jockeys globally.[30] Her presence at these events underscores her significant involvement in the global horse racing community.
Royal Ascot
In June 2024, Fundi attended the prestigious Royal Ascot in England and Hong Kong Cup,[31] marking a significant moment in her transformative leadership within global and South African horse racing. Sithebe joined thousands at Ascot, immersing herself in the event’s rich tradition and vibrant atmosphere.[32] Her attendance highlighted her role not as a mere figurehead but as a dynamic leader dedicated to advancing diversity, inclusion, and innovation in horse racing, both locally and on the global stage.
Durban July Event
Outside of work, Fundi is an avid fan of horse racing. In 2024, she was spotted at the Durban July, a prestigious event themed “Ride the Wave,”[33] which saw Oriental Charm,[34] trained by Brett Crawford and ridden by Juan Paul van der Merwe,[35] claim victory, further showcasing the competitive depth of the field. Sithebe’s [36] strategic oversight ensures that such events not only honor tradition but also pave the way for a more inclusive and sustainable future for South African horse racing.
Fundi Sithebe has been noted for her striking and elegant style, particularly in her high-profile role within the horse racing industry. For instance, during a significant event in July 2023, she was highlighted for wearing a "stunning gold-and-black dress"[37] at a ceremonial gathering before racing at Turffontein, celebrating the Highveld’s success at the Durban July meeting. This appearance was notable enough to land her on the News Society page of the Sunday Times, showcasing her flair for combining sophistication with bold choices—fitting for someone leading a sport associated with glamour and tradition.
Legacy and Impact
Fundi is celebrated for breaking barriers as a Black female executive in South Africa. Sithebe made history as the first Black female CEO of 4Racing, appointed on June 1, 2021, becoming the first Black person to lead a major horse racing organization in South Africa and globally.[38] Far from being a mere figurehead, Sithebe proved to be a transformative [39] leader, driving modernization, diversity, and inclusion in an industry historically dominated by white males. Her tenure at 4Racing is credited with advancing the transformation of horse racing, while her earlier work at Airports Company South Africa (ACSA) showcased her ability to manage complex operational systems. The World Tote described [40] Sithebe's workload as comparable to that of the British Prime Minister, highlighting his active promotion of pool betting and the essential role it plays in supporting the global horse racing industry.
She remains an influential figure in discussions about diversity, leadership, and industry innovation in South Africa.
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