Why Durban’s uShaka Marine World needs a R22 million bailout in 2026

The Durban Marine Theme Park (DMTP), trading as uShaka Marine World, is expected to receive a R22 million bailout to keep it afloat until the next budget cycle.

A report by the Economic Development and Planning Committee stated that cash reserves are anticipated to be depleted by mid-May 2026.

The municipality is also seeking council approval to repurpose R4 million from the capital expenditure grant to an operational grant and to allocate a further R18 million to support the entity’s operations.

The eThekwini Executive Committee (Exco) also met on Tuesday to discuss progress in the creation of a turnaround strategy for the DMTP.

On July 31, 2025, the municipal council approved meeting any funding shortfalls required to ensure the entity operates as a going concern. 

The DMTP is owned by the municipality and has an existing agreement with the South African Association for Marine Biological Research (SAAMBR). The entity funds operations through an annual municipal grant, while SAAMBR is responsible for the operational management of Sea World. 

Approximately 64% of the entity’s revenue comes from entrance fees. The report stated that due to the slower-than-anticipated post-COVID-19 recovery, the DMTP has revised its ticketing revenue projections downward during the 2025/2026 mid-term budget adjustment process. 

This resulted in a revenue shortfall, necessitating additional funding to enable the entity to meet its fixed financial obligations for the remainder of the financial year. 

The report added that the situation is further compounded by the continued servicing of historical utility debt incurred during the COVID-19 trading restrictions. Repayments on this debt total R37 million annually.

The report stated that the DMTP is constrained to increase entrance fees, as this would likely reduce visitor numbers. Cost-cutting measures have taken place, including reducing staff.

According to the report, R4 million was allocated for the supply, delivery, installation, and commissioning of a park-wide sound and intercom system work. This money will be used for the current operational budget, and the intercom system installation will be carried out in the 2026/2027 financial year when budgets are available. 

Previously, uShaka received R6 million in October 2019 for a feasibility study to evaluate operational models. The DMTP also received R43 million for the 2019/2020 financial year to address revenue shortfalls arising from the National Lockdown relating to the COVID-19 pandemic. In the 2024/2025 budget cycle, it received a R14 million injection. 

zainul.dawood@inl.co.za