Zim Now Writer
African Sun Limited has finalized the sale of the Great Zimbabwe Hotel and its associated business to Mewame Family Trust for a total of US$4.2 million has reported.
The transaction follows African Sun’s March 2024 decision to divest select assets, including the 20.4-hectare Mundells Plot A property in Masvingo.
After months of negotiations, the deal was concluded on January 28, 2025.
Under the agreement, Mewame Family Trust will acquire the property for US$3.2 million, while the hotel business and its assets are being sold as a going concern for US$1 million. The sale remains subject to full payment, due diligence, and regulatory approvals, which are expected to be completed by April 1, 2025.
African Sun, which operates ten hotels across Zimbabwe, is divesting non-core assets to focus on upgrading its primary properties.
This move aligns with its strategy to enhance operational efficiency and improve service quality at key locations.
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