Battle lines drawn over proposed CTICC share sale

Sunday World reports that the Democratic Alliance-led administration wants to sell the municipality’s majority stake in the Cape Town International Convention Centre (CTICC), a move it says would unlock funds for critical service delivery projects across the metro.

But opposition parties, led by the ANC caucus, argue that the plan risks sacrificing a long-term economic asset for a short-term financial injection.

The proposal has quickly become one of the most closely watched council matters of the year, sparking debate about the future of public assets and how cities should balance financial pressures with economic development goals.

Why the city wants to sell

The City of Cape Town currently holds a 72.7% stake in the CTICC. The Western Cape Government owns 22.2%, while Sunwest International holds the remaining 5.1%.

According to the city, the proposed sale of its majority shareholding, valued at approximately R885 million, would not change the convention centre’s role in Cape Town’s economy.

Officials insist the facility would continue operating as a conference and events venue, while the land itself would remain under municipal ownership.

Mayoral Committee Member for Finance, Siseko Mbandezi, has argued that transferring ownership to a more commercially agile operator could help the CTICC expand its reach and attract even more international conferences and business events.

The city has also stated that proceeds from the sale would be directed toward service delivery initiatives.

Opposition warns against losing a strategic asset

For the ANC caucus, however, the debate is about far more than a balance sheet transaction.

Cape Town ANC caucus leader Ndithini Tyhido has strongly opposed the proposal, describing the CTICC as one of the city’s most successful public investments.

The ANC argues that the convention centre has generated billions of rands in economic activity over the years, supporting jobs, tourism businesses, restaurants, hotels and transport operators throughout the city.

Critics of the sale say the CTICC has repeatedly demonstrated its resilience. After surviving the severe disruption caused by the COVID-19 pandemic, the venue returned to hosting major local and international events, helping revive parts of Cape Town’s tourism and hospitality sectors.

From their perspective, selling the city’s stake now could mean giving up future revenue opportunities and reducing public influence over a key economic institution.

A bigger debate about public assets

Beyond the CTICC itself, the proposal has triggered broader questions about how municipalities should manage strategic public assets.

Opposition parties have raised concerns about whether the sale could signal a wider shift toward privatisation. They argue that residents deserve greater clarity on how the funds would be spent and what measures would be put in place to protect the public interest after the transaction.

The debate comes at a time when Cape Town continues to face significant challenges, including housing shortages, infrastructure demands and persistent inequality between communities.

For some residents, the idea of unlocking nearly R900 million for municipal services appears attractive. Others question whether selling an asset that contributes to tourism and investment is the right long-term decision.

Public participation already completed

The issue has already undergone a formal public participation process.

Between September and October 2025, the city invited residents and stakeholders to submit comments on the proposed transaction. Feedback from that process was later presented to council, which subsequently adopted an in-principle resolution allowing the process to move forward for further consideration.

Now, the final political battle moves to the council chamber, where supporters and opponents of the deal will attempt to convince fellow councillors that their vision is the better path for Cape Town’s future.