June 30, 2004

By Roy Cokayne

Pretoria - A multibillion-rand Disneyland-style family oriented African theme park is being planned for a 630ha site in Kempton Park that will create an estimated 6 000 direct and 23 880 indirect jobs if it goes ahead.

This was revealed at a signing ceremony yesterday for a contract between Steward Scott and David Zeverijn, the vice-ambassador of the Netherlands, for a grant of R1.3 million to finalise the feasibility study for the theme park. Steward Scott is the nominated project manager for the park.

It was estimated the theme park would cost between R2.5 billion and R3 billion to develop for opening by October 2008.

The project, to be located close to Johannesburg International Airport, has been initiated by the Kempton Park-based Latar Entertainment Projects.

But Latar said it would have the financial assistance and backing of the Netherlands government and the Gauteng Economic Development Agency.

Three of Latar's seven-member board are former senior Walt Disney employees and a further three former Walt Disney employees are non-executive employees.

The project concept comprises three different theme parks; an 18-hole Gary Player-designed residential golf resort with 1 500 stands; retail developments to serve golf estate residents; and hotels, conference and convention facilities plus a "wellness and health spa".

The three theme parks envisaged are:

An Africa park showcasing the cultures of all 53 countries on the continent and features based on the wonders of Africa in the form of attractions, shows and rides;

SpacePort Africa focusing on travelling and living in space in 2050; and

Sesame Street water park featuring the famous Sesame Street characters in shows and on water elements and scenery.

The park would have a capacity of about 3 million visitors a year.

Latar anticipated that 70 percent of visitors to the park would be local, 20 percent African and 10 percent foreign.

The feasibility study, which would take six months to complete, was to be conducted by a project team comprising eight South Africans and five Dutch companies and also include full environmental impact and socioeconomic assessment reports.

It will include studies to prove the project is feasible, commercially viable and therefore bankable.

Latar said the project was expected to attract both public and private investors once it was proven to be bankable.

"Foreign and South African investors have already shown great interest 'in principle', including but not limited to the IFC [International Finance Corporation], IDC [Industrial Development Corporation], DBSA [Development Bank of Southern Africa] and BEE [black economic empowerment] investors, such as Gallium Capital," the company said.