The Cape Town International Convention Centre (CTICC) held its Annual General Meeting (AGM) today in Cape Town.

The 2021/22 financial year was a challenging one for everyone due to stringent Covid-19 restrictions, but the CTICC is pleased to announce that it has emerged from this trial by fire, stronger and more inspired than ever.

The year under review began with the centre only hosting small, local events due to government-mandated pandemic regulations, but with the relaxation of restrictions in the fourth quarter, the final barrier to hosting large events was removed. A clear example of this was Decorex in June 2022, which brought over 36 000 visitors to the CTICC.

With the influx of events, the CTICC hosted 226 events compared to 53 in the previous financial year, and overall delegate and visitor numbers rose to over 127 000 in the year under review – a massive and welcome improvement.

The art of resilience

Resilience means “to jump back”. It describes a material’s ability to return to its original shape after bending, stretching or compression. It also talks to a person’s ability to bounce back after a shock. Covid-19 most certainly stretched every aspect of our lives, and shock is definitely an appropriate word to describe South Africa’s response. But what matters most is how one responds to these shocks and how, despite them, one bounces back.

With the events sector and the CTICC’s business seriously affected by the pandemic, the centre had to quickly learn how to master resilience. Fynbos is a perfect example of resilience, and none more so than the protea.

“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,” said CEO Taubie Motlhabane in her presentation to the media on the day.

To further develop the concept of resilience, the CTICC used watercolor as a design element throughout its annual report. Watercolour embodies energy and boldness – and to create a masterpiece, one must act quickly and clearly. This perfectly describes the CTICC’s ability to adapt and change with the times.

Annual results across the board

Despite the challenges, the CTICC improved on its 2021 financial figures. The company achieved a revenue of almost R100m compared to just over R52m in the previous financial year. A turnover of more than R98m was also attained – a steep increase compared to the R43m in the 2021 financial year. The CTICC thought it would return an EBITDA loss of just over R91m. However, the company managed to cut the expected loss by 63%, achieving an EBITDA loss of only R34m – a definite improvement on the target.

The CTICC also continued to contribute positively to the provincial and national economies. Its contribution to Gross Domestic Product (GDP), as well as Gross Geographic Product (GGP), was R1.1bn respectively. Since the CTICC opened its doors in 2003, it has contributed over R54bn to the GDP and more than R46bn to the GGP. On top of this, the CTICC created or sustained over 2 000 jobs nationally in the 2022 financial year, bringing its total number of jobs created since inception to 145 000.

Embracing resilience to reimagine the future

The pandemic provided an opportunity for the CTICC to pause, think out of the box and build on what they already offer to create a new and flourishing future for themselves and others. This resulted in a redefined purpose, vision, and mission:

• 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.

Community is at our core

Underpinning the CTICC’s new way forward is its commitment to the community. Ms. Motlhabane commented in her foreword in the 2022 Integrated Annual Report:

“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.”

This is perfectly reflected in the CTICC’s donation of space to the Gift of the Givers. In April 2022, KwaZulu-Natal experienced severe floods, leaving countless people destitute and at risk without clean drinking water. The Gift of the Givers answered this call and the CTICC partnered with them.

The CTICC provided three halls for nine days as a secure drop-off and storage facility for donated water that was trucked to Durban. An estimated one million litres of water were donated by the people of Cape Town and the CTICC “was very proud to have been given an opportunity to be part of the solution,” said Ms Motlhabane.

Other innovative community activations over the years have included the CTICC’s hosting of the Vaccination Centre of Hope in the last two quarters of 2022 where an estimated 136 000 people were vaccinated, which followed the Hospital of Hope at the onset of the pandemic

As a result of donating space to the Gift of the Givers and supporting Local Community Partners (LCPs), the CTICC’s Corporate Social Responsibility (CSR) contribution rose considerably during this period – to R2.5m.

Focus on people, planet and integrity

With a strong commitment to environmental, social and governance (ESG) principles, the CTICC continued to focus on improving its dedication to these values. This included aligning itself with the United Nations Sustainable Development Goals (SDGs). During the year under review, the CTICC supported 15 out of the 17 goals during the financial year. Furthermore, the company continues to meet all ten of the United Nations Global Compact (UNGC) principles, by which they measure their commitment to ESG values.

Innovation – the way forward

The CTICC’s new strategy will be adopted over the next two years, positioning itself as a significant global player in the fields of technology and innovation, 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,” said Ms Motlhabane in her foreword in the 2022 Integrated Annual Report.

At the end of her presentation, Ms Motlhabane, revealed that its forward book is healthier than ever.

“We currently have over 70 international events confirmed up to November 2029. We believe the results will be as striking as the protea itself.”

After thanking her staff, management and executive team, Board, Shareholders, service partners and clients for their support during the year under review, Ms Motlhabane reminded us all that the future is looking bright indeed – especially for the CTICC.

To read the full report, click here or browse the CTICC’s 2022 Integrated Annual Report site to find out how it is embodying ‘The art of resilience’ #CTICCAGM2022.

For more information on the CTICC, go to cticc.co.za, connect with us on LinkedIn, like us on Facebook, or follow us on Twitter and Instagram.

Issued by: Media Office, Cape Town International Convention Centre

Media enquiries: media@cticc.wowfingers.com, +27(0) 21 410 5000