Cape Town | Wednesday
Government anticipates disposing of all Aventura holiday resorts by the end of next year, MPs were told on Wednesday.
Its first priority was to sell off the resorts at Christiana, Bloemfontein and Aldam, director of corporate governance in the Public Enterprises Department Nonkululeko Msomi said in a briefing to Parliament’s public enterprises portfolio committee.
She said these three were draining resources from viable resorts while the one at Christiana seemed closest to being sold.
The government has agreed to grant Aventura a reprieve to recapitalise the proceeds of the sale of the three resorts with a view to preparing for the long-term disposal off all resorts.
It had always been government’s intention to dispose of Aventura as a business enterprise and Protea was now in its third year of its management term of the enterprise.
Aventura had been in financial difficulties from 1996 and was still unprofitable.
While its financial state had not significantly improved, it had stabilised, Msomi said.
A task team appointed to discuss disposal strategies would meet next week to implement decisions taken by the Cabinet in August.
The resorts would be disposed of in single and/or multiple units to allow for greater participation of wider groups of interested parties.
Those business units subject to land claims would not hold back the sale of unencumbered units. – Sapa