31.9 C
Saturday 1 April 2023
HomeAfricaZim firm becomes largest shareholder in Botswana hotel group

Zim firm becomes largest shareholder in Botswana hotel group

A Zimbabwean company has become the largest shareholder in Botswana’s biggest hotel group, Cresta Marakanelo, documents released here Wednesday showed.

TA Holdings, which holds a diversified portfolio of investments, has a 40 percent stake in Cresta Marakanelo, which runs a chain of hotels in Botswana.

It owned the hotel group in partnership with the state-owned Botswana Development Corporation (BDC), which has disposed part of its 60 percent stake in Cresta Marakanalo via an initial public offer.

The BDC will retain a 26% stake in the hotel group, leaving TA Holdings with the largest shareholding in Cresta Marakanelo, according to the documents.

The Zimbabwean company also runs a separate chain of hotels in the home market and other countries, under its Cresta brand.

Cresta Marakanelo is due to be listed on the Botswana Stock Exchange next week. 




Please enter your comment!
Please enter your name here

- Advertisement -