On 26 January 2023, the Cape Town International Convention Centre (CTICC) held its Annual General Meeting (AGM) and made its performance and achievements for the 2021/22 financial year public.
The overarching theme of the presentation was resilience, given the challenges that the pandemic created for the events industry and those working in it, which have been weathered. Using the protea as an example, Taubie Motlhabane, CEO of the CTICC, said, “Sometimes known as the ‘phoenix flower’, proteas literally rise from the ashes… it is inspiring that beauty, colour and life can re-emerge from destruction. To come out of the fire – changed and renewed – is the inspiration for our 2022 Integrated Annual Report. We are mastering the art of resilience.”
Events are back
The 2021/22 financial year began with the CTICC only being able to host small, local events due to government-mandated pandemic regulations, but ended with these restrictions being relaxed in the fourth quarter. This allowed events such as Decorex to return in June 2022, which brought over 36 000 visitors to the CTICC.
With the freedom to host unrestricted events, the CTICC was ultimately able to accommodate 226 events compared to 53 in the previous financial year, while the overall delegate and visitor numbers rose to over 127 000 in the year under review – a very welcome improvement!
The CTICC was ultimately able to accommodate 226 events compared to 53 in the previous financial year.
Revenue is up
The CTICC was able to improve on its 2021 financial figures, and achieved a revenue of almost R100 million compared to just over R52m in the previous financial year, and a turnover of more than R98m compared to R43 million in the 2021 financial year.
After expecting an EBITDA (Earnings before interest, taxes, depreciation, and amortization) loss of just over R91 million, the CTICC achieved a much lower EBITDA loss of only R34 million.
The centre also continued to contribute positively to the economy. It contributed R1.1 billion to the country’s Gross Domestic Product (GDP) and an additional R1.1 billion to the Western Cape’s Gross Geographic Product (GGP). This means that since 2003, when the CTICC opened its doors, it has contributed R53.2 billion to the GDP and R45 billion to the GGP.
It contributed R1.1 billion to the country’s Gross Domestic Product (GDP) and an additional R1.1 billion to the Western Cape’s Gross Geographic Product (GGP).
Through its activities, the centre has also been able to create or sustain over 2 000 jobs in the 2022 financial year, and 145 000 jobs since it opened.
Repositioning the CTICC
Taubie also explained how the CTICC used the disruption of the pandemic as an opportunity to re-examine its purpose and offering, and its future. The result is a redefined purpose, vision and mission, which was shared as follows:
- The new purpose, the CTICC’s “why”, is all about accelerating economic prosperity, opportunity, inclusivity, creativity and innovation.
- Its revised vision, the “what”, includes the CTICC being respected as the enabler of Africa’s smartest community of creativity, opportunity, sustainability and excellence.
- The redefined mission, the new “how”, will be accomplished by establishing an integrated smart hub model that unlocks innovation, collaboration and transformation, creating opportunity for all.
This new strategy will be adopted over the next two years, allowing the CTICC to position itself as a significant global player in the fields of technology and innovation, and aligning with the City of Cape Town’s Integrated Development Plan & Strategic Economic Sectors.
“If these challenging times have taught us anything, it is that change is necessary and it opens the door for innovation and reinvention,” Taubie noted.
Caring for our community
The CTICC remains committed to caring for its community. “People are also a key focus in our business operations. The communities we live in, do business in and impact reflect the character of the CTICC. We are very proud to say we continue to balance our business operations with care, responsibility and integrity for people, along with the planet,” said Taubie.
By way of example, when KwaZulu-Natal experienced severe floods in April 2022, the CTICC partnered with Gift of the Givers to assist them with donating much-needed clean drinking water to the many people who had been left destitute.
The CTICC provided three halls for nine days as a secure drop-off and storage facility for these donations. It is estimated one million litres of water were received from the people of Cape Town. Taubie added, “The CTICC team was very proud to have been given an opportunity to be part of the solution.”
The CTICC’s Corporate Social Responsibility (CSR) contribution reached R2.5 million during this period.
Another community initiative the CTICC embarked on was to hose the Vaccination Centre of Hope in the last two quarters of 2022. An estimated 136 000 people were vaccinated at the centre, which had previously been the site for the Hospital of Hope at the start of the pandemic.
In total, the CTICC’s Corporate Social Responsibility (CSR) contribution reached R2.5 million during this period.
ESG takes centre stage
The CTICC has also continued its strong commitment to environmental, social and governance (ESG) principles. During the past financial year, this saw the CTICC align itself with the United Nations Sustainable Development Goals (SDGs) and support 15 out of the 17 goals. The company also continues to meet all ten of the United Nations Global Compact (UNGC) principles, by which they measure their commitment to ESG values.
There is much to be thankful for
Taubie closed the AGM by announcing that the CTICC has over 70 international events confirmed up to November 2029, and thanking her staff, management and executive team, Board, Shareholders, service partners and clients for their support during the year under review.
To read the full report click here, or browse the CTICC’s 2022 Integrated Annual Report site here.
