First Capital Bank Exits Makasa Sun Hotel

By Nyashadzashe Ndoro - Chief Reporter

The Directors of First Capital Bank Limited have announced their decision, alongside a co-shareholder, to dispose of their combined shareholdings in Makasa Sun (Private) Limited.

This company wholly owns the Makasa Sun Hotel, formerly known as the Kingdom Hotel, situated in Victoria Falls, Zimbabwe. First Capital Bank currently holds a 50 percent stake in Makasa Sun (Private) Limited.

Negotiations are underway with a potential investor interested in acquiring these holdings. The bank has stated that it will seek guidance from the Victoria Falls Stock Exchange on how to classify this transaction and will update the market accordingly.

In the interim, shareholders are urged to exercise caution when trading the company's shares until a full announcement is made.

First Capital Bank operates across Botswana, Malawi, Mozambique, Zambia, and Zimbabwe and is a registered commercial bank and member of the Deposit Protection Scheme.