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City's flagship entities taking financial strain as the pandemic rages on

Cityâs flagship entities taking financial strain as the pandemic rages on
By Bulelwa Payi
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Two of the Cityâs major entitiesÂ are facing severe cash flow problems and are struggling to cover operations as Covid-19 has laid waste to the economy.
The Cape Town International Convention Centre (CTICC), ranked number 1 in Africa by the International Congress and Convention Association, has been granted a lifeline of R200 million by the City.
The entity is unableÂ to conduct its businessÂ operations due to the limitations posed by the Covid-19 regulations.
According to the City, the companyâs available financial resources were projected to last until the end of March. ....

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