GOOD Party rejects approval to sell CoCT's shares in CTICC

CAPE TOWN - The GOOD Party has rejected the approval to sell the City of Cape Town's shares of the Cape Town International Convention Centre (CTICC).

The council has approved the public participation process on the sale of the municipality's majority 72.7 percent shareholding of the convention centre.

The city said that the proceeds would be invested into service delivery.

The metro said it believes that the private sector would be able to unlock the growth and commercial potential of the property and will remain a convention centre.

However, GOOD Party councillor, Wesley Neumann, said that selling the CTICC was like selling out Cape Town's people.

"The CTICC is not an ordinary company. The CTICC stands as a public jewel created through the sacrifices and contributions of ordinary ratepayers. It is theirs; it belongs to the people of Cape Town. It is a strategic public asset built and sustained with billions of public monies from the city and province."