In a potentially high-stakes bet on a rebound in the pandemic-ravaged tourism industry, an Old Mutual asset management arm has snapped up the concession owner of Cape Point’s facilities from Thebe Investment Corporation, one of the oldest black-owned companies.

"We believe strongly that the tourism industry will return to its former glory post Covid-19 and, given the quality of the assets of the group, feel that the Thebe Tourism Group is well positioned to capitalise on the eventual recovery of the sector," said Amrish Narrandes, head of unlisted equity deals at Old Mutual’s Futuregrowth Asset Management...

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