Objectives

The primary objective of this tender is to conduct a comprehensive study and options analysis regarding the potential restructuring or disposal of the Western Cape Government’s (WCG) shareholding in the Cape Town International Convention Centre (CTICC). The study aims to provide strategic recommendations, legal advisory services, and market-based valuation to support government decision-making on whether to sell, partially sell, restructure, or retain its stake in the CTICC.

Scope

The scope of work includes:

• Evaluating the historical performance, current position, and outlook of the CTICC.
• Conducting stakeholder engagement with WCG, City of Cape Town, CTICC/Convenco leadership, and sector stakeholders.
• Testing transaction structures, valuation drivers, and market appetite while ensuring confidentiality and client approval.
• Reviewing the strategic contribution of CTICC to Cape Town’s positioning as a global conferencing hub and its economic impact.
• Assessing the implications of the City of Cape Town’s intention to dispose of its shareholding.
• Performing a data-driven valuation of WCG’s equity in CTICC using appropriate methodologies.
• Identifying risks, constraints, and enabling factors related to sale, partial sale, or retention options.
• Developing future scenarios and evaluating shareholder options (sale, partial sale, restructuring, retention).
• Providing decision-making frameworks, legal and regulatory advice, and transaction process recommendations.
• Preparing a final comprehensive report covering valuation outcomes, strategic impacts, regulatory compliance, and implementation roadmaps.

Technical Requirements

The technical requirements include:

• Independent, market-based valuation of WCG’s shareholding in CTICC.
• Stakeholder engagement plans with clear scope, data availability, and decision deadlines.
• Analysis of CTICC’s historical and current performance, strategic contribution, and market environment.
• Assessment of legal, regulatory, and governance considerations, including compliance with PFMA, competition laws, and other relevant legislation.
• Development of future scenarios and evaluation of shareholder options with detailed frameworks and templates.
• Risk management plans, due diligence protocols, and transparency assurance measures.
• Provision of valuation summaries, strategic impact assessments, and implementation roadmaps.

Skills Requirements

The bid must demonstrate relevant expertise and experience, including:

• Business valuation expertise compliant with IVSC standards.
• Experience in public sector and government-related transactions, legal advisory, and regulatory compliance.
• Proven track record in conducting strategic economic impact assessments and financial modeling.
• Expertise in legal advice related to commercial transactions, governance, and regulatory frameworks.
• Strong stakeholder engagement and project management skills, with experience in multi-stakeholder environments.
• Qualified professionals, including Chartered Accountants (CA) and admitted attorneys, with relevant project experience.
• Ability to develop detailed work plans, methodologies, and comprehensive reporting frameworks.