The Cape Town International Convention Centre (CTICC) hosted its 2024 Annual General Meeting (AGM) on January 27 in Cape Town, celebrating a year of milestones, community impact and strong financial performance.
The 2024 financial year was an exceptional one for the CTICC, with the company hosting the most international events since opening its doors in 2003. The centre also hosted one of its largest events in the year under review – the 2023 Netball World Cup, with 61 000 attendees. This increase in business allowed the CTICC to continue building a legacy and making a positive difference in its communities and country.
In the 2024 financial year, 368 events were hosted, 43 of which were international. This is a 30.3% increase on the previous financial year. Over 310 000 people attended events in the year under review, a 13% increase compared to almost 275 000 in the previous financial year.
Leaving a legacy
For 21 years, the CTICC has woven a legacy of impact that extends far beyond its walls through its commitment to collaboration, sustainability and community empowerment. The 2024 Integrated Annual Report’s theme, “Weaving a legacy”, is inspired by this.
Like the art of weaving that brings together threads to create something functional, decorative, exquisite, and unique, the CTICC connects people, ideas and initiatives to create a legacy that is both significant and enduring.
For the CTICC, the weaver bird on the front of the Integrated Annual Report symbolises the work and attention that goes into every aspect of its operations. It is also in motion, representing the company’s dedication to always moving forward, signifying hope, inspiration and the quest to leave a lasting legacy.
A return to form and strong financial results
Some of the ways the CTICC is making a meaningful impact is through job creation, its economic contributions and its financial performance. In the 2024 financial year, the CTICC achieved the following:
• R400.7 million in revenue, a 44% increase compared to the previous financial year;
• A positive earnings before interest, taxation, depreciation and amortisation (EBITDA) of R82.5m, nearly doubling its R42 million target;
• A contribution of R6.9 billion to national gross domestic product (GDP) and R6.5 billion to Western Cape economy, resulting in a cumulative contribution of R66.9bn to GDP and R58.0bn to GGP;Created or sustained almost 13 000 jobs nationally during the financial year, bringing the total to over 169 000 jobs since 2003;
• Another clean audit from the Auditor-General of South Africa.
But, as CEO Taubie Motlhabane says in her foreword in the 2024 Integrated Annual Report, “It is not just about our fiscal integrity and continuous clean audit record, both of which matter greatly. It is also about how we are in the world with people, the planet and the sustainable legacies we leave behind.”
Uplifting communities and youth through collaboration
At the heart of the CTICC is a deep commitment to uplifting communities and fostering partnerships. During the 2024 financial year, the company strengthened its relationships and increased its collaborative approach with its local community partners (LCPs), resulting in a corporate social responsibility (CSR) contribution of just over R737 000.
To support communities in need, the CTICC launched its CTICC Cares drive in October 2023. It was such a success that in 2024, it became a year-round initiative so that the CTICC, its LCPs and the citizens of Cape Town could continue weaving a positive legacy. The centre partners with the City of Cape Town, Artscape Theatre Centre, Hotel Verde and the Westin Hotel to provide drop-off points for pre-loved goods such as clothing, books, toys and non-perishable food.
Education also took centre stage with the CTICC’s Youth in Action Expo in June 2024. This exhibition empowers youth by connecting them with organisations offering career guidance, education and job opportunities. The event prioritises inclusivity, welcoming tertiary students, learners from under-served communities and schools, as well as schools for learners with disabilities. In 2024, the CTICC collaborated with Gift of the Givers, Independent Media and Smile FM to enhance its reach and communication efforts. The CTICC is proud to report that the event was a resounding success and it is looking forward to planning another one for 2025.
Advancing sustainability
Another way the CTICC is weaving a legacy is through its sustainability initiatives. In the 2024 financial year, the company responsibly managed its resources and reduced its environmental impact by focusing on its ISO 14001 Environmental Standard.
It also continued to align with the 17 United Nations Sustainable Development Goals (SDGs) and supported the Net Zero Carbon Events Initiative.
Looking ahead
In the final section of her presentation, Taubie Motlhabane outlined a future focused on adaptability, innovation and meaningful partnerships.
Globally, convention centres are being recognised – more than ever – as economic catalysts that can profoundly affect job creation, knowledge exchange, community support and the transformation of the spaces we inhabit.
With this in mind, the CTICC’s forward-focused strategy includes strengthening and expanding its partnerships with like-minded collaborators, adapting to remain relevant and resilient and exploring new possibilities.
Additionally, the company’s Forward Book up to the 2029/30 financial year has close to 400 events, with approximately 20% of these being international events. The current value of the forward book is estimated at R1.5 billion.
Rounding off her presentation, Taubie said: “Like the weaver bird, we will continue collaborating and making a difference wherever we can, so that our woven tapestry – our legacy – uplifts, connects and inspires for generations to come.”
To read the full report, browse the CTICC’s 2024 Integrated Annual Report site to find out how they are ‘Weaving a legacy’. For more information on the CTICC, go to www.cticc.co.za, connect with the team on LinkedIn or Facebook, or follow them on X and Instagram #CTICCAGM2024
Image caption: Taubie Motlhabane, CTICC CEO, delivers the venue’s AGM presentation.
Issued by: Media Office, Cape Town International Convention Centre
Media enquiries: media@cticc.co.za | +27(0) 21 410 5000
