uShaka Marine World Battles R62 Million Loss Despite Massive Municipal Grants

DURBAN — 1 July 2024

Durban’s uShaka Marine World is facing dire financial trouble, recording a R264 million operating deficit against R202 million revenue last year despite over R127 million in municipal bailouts.

Africa’s once-celebrated marine theme park opened in April 2004 as a R700 million flagship project for Durban’s Point Precinct renewal. It has drawn over 15 million visitors to attractions like the world’s fifth-largest aquarium.

eThekwini Municipality covered nearly half the park’s funding last financial year, injecting a R127.3 million grant plus R14 million for off-peak support. (Mu­nicipal financial records)

CEO Ndabo Khoza cited unsustainable operating costs and South Africa’s weak economy as key challenges. “Raising ticket prices to cover expenses would make entry unaffordable for most South Africans.” (Khoza statement)

Maintenance cuts are creating future risks for ageing infrastructure. Visitor growth hit only 2.28% – below projections – after rainy holidays and a month-long closure during 2024 wage strikes. (Annual report)

Though resolved, labour costs remain a major burden. Without restructuring or ongoing city support, the park’s viability is at risk.