R160 million bailout for struggling uShaka Marine World
Struggling uShaka Marine World Theme Park will receive a R160-million bailout in efforts to save the entity from total collapse.
This after the recreational facility recently tabled a report before the city’s executive committee requesting a R66.9 million financial boost from eThekwini to help it through its financial crisis.
EThekwini mayor Mxolisi Kaunda made the announcement while tabling his budget for the 2021/22 financial year.
He added that an amount of R6m was allocated towards research to explore how the theme park can transform itself and attract more visitors.
He said they had engaged with the management of the entity and was confident it would be turned around.
"The city has two flagship entities that are supporting the tourism industry - uShaka marine theme park and Inkosi Albert Luthuli International Convention Centre", Kaunda said.
"We are going to continue supporting these entities as we are still grappling with this pandemic. In this regard we have made a grant allocation of R15 million to help the entity [Inkosi Albert Luthuli convention centre]", he said.
"On the other hand uShaka was facing critical challenges prior to COVID-19. They have developed a turnaround strategy that is driven by the newly appointed CEO, Ndabo Khoza", Kaunda said.
