The City of Cape Town considers selling its majority stake in the Cape Town International Convention Centre, sparking political backlash over assets.
The City of Cape Town says it has received the vote from Council to potentially sell its 72.7% shareholding of the Cape Town International Convention Centre (CTICC).
But political parties have rejected the idea, saying the CTICC is one of Cape Town's most successful public investments and economic drivers.
The decision follows a public participation process and was tabled before Council in December via a Council Resolution.
Mayco member for Finance, Siseko Mbandezi, said the decision was scrutinised and guided by the City’s commercial attorney for options of possible investors.
