Victoria Falls Stock Exchange listed Hospitality group, African Sun Limited, has announced that it is in advanced negotiations for the sale of its Caribbea Bay Resort in Kariba as part of its ongoing strategy to unlock shareholder value.
In a cautionary statement issued this week, the company said it had received a formal offer from an interested buyer for the property and was currently engaging with the party.
“The Company placed the Caribbea Bay Resort on the market for sale and has started engaging with an interested party who has made a formal offer for the property,” African Sun said.
The hotel group noted that the proposed disposal, along with other recent asset sales, will be subject to regulatory processes that require the aggregation of all disposals made within the year. Based on this aggregation, the transaction is expected to fall under a Category 1 classification, which mandates the convening of an Extraordinary General Meeting (EGM).
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“Shareholders and the investing public are therefore advised to continue exercising caution when dealing with the Company’s securities until advised of the conclusion of the said ongoing processes,” the statement read.
African Sun Limited, incorporated in 1971, owns and operates several hotels and resorts across Zimbabwe, including the Victoria Falls Hotel, Holiday Inn Harare, and Troutbeck Resort.
The latest announcement follows previous cautionary statements, the most recent being issued on October 10, 2025, as the company continues to realign its asset portfolio and enhance shareholder returns.
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