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.