Even those who don’t know Esa Yacoob will know his famous pirate ship, the Jolly Roger, and the famous sundowner parties. However not many know the many obstacles Esa has faced along the way. SABBEX asked him about his journey to success, and what he sees up ahead.
SABBEX: How did you get into the marine tourism sector?
ESA: In 1995, when I launched my first vessel, South Africa was entering a new era of liberation, and Cape Town was seeing a surge in foreign visitors. Recognising Cape Town’s potential as a sailing destination with its iconic Table Mountain backdrop and perfect westerly winds for sailing, I saw an opportunity to establish a successful charter boat operation.
At the time, my family was involved in minibus transport for tourists, but I anticipated the industry becoming oversaturated due to its low entry barriers. Instead, I was drawn to marine tourism, envisioning a “taxi on water.” Cape Town’s thriving boatbuilding sector made it easier to enter, but I knew the industry was highly regulated and difficult to break into.
My strategy was to invest in a sector that had yet to transform, offering both challenges and opportunities. Despite the complexities of operating in the V&A Waterfront under strict regulations, I was determined to succeed in an industry where barriers to entry meant fewer competitors. Today, my journey in marine tourism stands as a testament to perseverance and vision in a sector that continues to grow.
SABBEX: Your company has become a big part of the landscape in Cape Town. To what do you attribute your success?
ESA: In 1995, one of the biggest challenges facing Black businesses was access to funding and industry experience. Recognising this, I sought guidance from David Abromowitz, a respected figure in the yachting fraternity, deeply involved with the Royal Cape Yacht Club, boatbuilding, and the National Sea Rescue Institute.
Through numerous discussions with David, the Waterfront management, and Bruce Tedder, I shared my vision for growing the tourism charter industry , a sector that was then in its infancy. Despite coming from a disadvantaged community, I focused on strategy rather than politics, seeking mentorship from industry leaders.
Once they recognised my entrepreneurial passion, they supported me with funding and sponsorship, leading to the launch of my first sea shuttle in 1995. Then, as now, I firmly believe that by working together as a diverse nation, we can overcome any obstacle and build a thriving industry.
SABBEX: The V&A is a big success story. Would you say there is even more potential for growth? Will the V&A’s new expansion project contribute towards this success?
ESA: Yacoob Yachts ( Tigresse catamaran, Jolly Roger) is celebrating 30 years of operating at the iconic V&A Waterfront. Over the years, we have witnessed significant expansions, including new hotels and retail extensions, all of which have contributed to the increasing number of visitors.
A major focus of current and future development is the Blue Economy, sustainable ocean-related activities, particularly in tourism. The transformation of the coastline from Granger Bay across the entire Waterfront, with new marinas, tidal pools, breakwaters, and a superyacht basin, is set to create even more opportunities for water-based experiences.
Since COVID-19, we have seen a surge in marine tourism, with more businesses offering water sports such as kayaking, water bikes, marine tours, and jet skiing. These developments will undoubtedly drive job creation and business growth in the marine tourism sector, further positioning the V&A Waterfront as a global leader in ocean-based recreation.
As stakeholders in this thriving waterfront economy, we are excited about the future and the endless possibilities that these developments will bring to the industry.
SABBEX: You’ve succeeded despite obstacles along the way, as somebody who was previously disadvantaged. What is your advice for other previously disadvantaged wishing to succeed in this space?
ESA: For those aspiring to join the industry, it is advisable to first gain experience in other tourism sectors to understand both domestic and international market behavior. Building a strong tourism brand before transitioning into marine tourism will provide a solid foundation for success.
This is not an industry for passive investment or quick returns. It requires hands-on operational involvement, a deep passion for the sea, and an unwavering commitment to passenger safety. Entrepreneurs should be prepared for a return on investment timeline of 15 to 25 years.
Before investing, at least three years of hands-on vessel operation experience is essential. Additionally, obtaining a Skipper’s license and working on a vessel for at least five years will provide invaluable industry knowledge and practical expertise.
Success in marine tourism is built on experience, patience, and dedication. Those willing to commit to the journey will find it a rewarding and sustainable business.
SABBEX: Has there been enough transformation in the marine space? Are we on the right track?
ESA: The marine tourism industry has seen remarkable transformation, particularly in smaller coastal towns such as Gansbaai and Hermanus and Langebaan
Black economic empowerment companies have successfully established diving operations, whale-watching experiences, and rubber duck tours, contributing to the sector’s expansion.
Government support, particularly through the National Empowerment Fund, has played a key role in fostering business growth. However, there is still room for greater participation from private equity companies to further drive inclusivity and investment in the industry.
A significant shift in customer demographics has also emerged. Before COVID-19, the majority of our clientele were foreign visitors and predominantly from the domestic white demographic. However, today, 60% of our customer base consists of black tourists from neighboring provinces and across the African continent. This shift highlights the need for continued transformation in the sector to cater to a more diverse market and create more inclusive opportunities.