ANC cashing in on Robben Island

Thebe Investment subsidiary secures luxury yacht to offer VIP cruises, write Simpiwe Piliso and Buddy Naidu. The ANC is poised to score from a lucrative deal struck by its investment company to market luxury charters to Robben Island

The company is aiming to cash in on the well-heeled celebrity visitors here for the 2010 Soccer World Cup.

Thebe Investment Corporation - through its subsidiary Thebe Tourism Inbound - has signed an exclusive deal with Original Boats, a charter company, to act as the marketing and booking agent for the luxury motor yacht, Inala.

The Inala is the only private cruise yacht offering trips to Robben Island. VIP packages to the island on the yacht - which boasts teak floors, cherry wood finishes and leather upholstery - cost R22000 for up to 12 guests for a four-hour trip, which includes a full bar with the best wines and whiskies, a finger buffet, an on-board chef and a tour guide.

On Friday, Heather Gutierrez, head of Thebe Tourism Inbound, described the deal as a joint venture and "not necessarily a financial (one)".

She admitted that Thebe's long-standing links with the ruling party - former President Nelson Mandela was chairman in the early '90s - had helped it secure exclusive docking rights on Robben Island.

But Gutierrez refused to reveal who had booked cruises to the island.

"Some are incredibly high-profile people from governments, paparazzi-type celebs, corporate clients and well-heeled foreign tourists," she said.

"We are very, very privileged to have the ability to dock at Robben Island and we want to keep that legend alive."

Last month the Sunday Times obtained secret ANC documents which show that the ruling party owns a majority stake in Thebe Investment Corporation.

Thebe's chairman Vusi Khanyile, the former head of the ANC's finance department, has repeatedly denied that Thebe has a "business relationship" with the party.

However,the Sunday Times established that Thebe was set up as an ANC investment company as far back as 1992, when the Batho Batho Trust was formed "for the sole purpose of receiving dividends" from the company.

To date, one of Thebe's biggest transactions was securing a 0.84% shareholding - estimated to be worth more than R1-billion - in Vodacom.

Thebe also has significant stakes in major companies such as Shell SA Refinery, Altech Netstar, Khaya FM, and Combined Motor Holdings.

Over the years, the Batho Batho Trust's ownership structure has changed from being wholly owned by the party to now include investors Absa Capital, Sanlam and Umhlomulo Equity Participation. The latter is an employee equity company which lists Khanyile among its shareholders.

Sanlam owns about 8.4% of Thebe. Absa acquired Investec's 8.4% stake and Old Mutual's 7% stake in January 2007.

Financial services group Sanlam paid R1.5-billion for a stake in Thebe in 2004.

This week Thebe declined to disclose the value of the deal with Original Boats. The company is owned by international yachtsman John Martin, Justin Oppenheimer and Thabane Zulu, who was one of the youngest prisoners on Robben Island when he was imprisoned in 1986.

Original Boats is a subsidiary of investment company African Access Holdings, which lists among its board of directors Seth Phalatse, the former executive director of BMW; Sebenzile Matsebula, the acting director in former president Thabo Mbeki's office; Mogopodi Mokoena, the former director-general in the Gauteng provincial government; and Moosa Ntimba, the former chief financial officer of the Government Printing Works.

Gutierrez said: "The collaboration by the two companies enhances our offerings immeasurably and provides us with a major differentiator in the market. Through our current portfolio of market-specific brands we are on a constant quest for improvement and excellent service to all our clients."

Monwabisi Fandeso, chief executive of Thebe Tourism, described the deal as "lucrative" and said it would strengthen the group's business strategy and product range.

"It is only fitting for Thebe Tourism to be associated with a symbolic icon like Robben Island," Fandeso said.

One of the websites marketing the cruise states: "With its Italian styling, trendy interiors, quality construction techniques and performance, it has been specially designed to meet the tastes and requirements of business executives, royalty and eminent VIPs in government to experience a private cruise to Robben Island and the surrounding bay."

The crew provides for all needs - ranging from special equipment or services on board to gourmet cuisine.