By Ziyah News Editor
Harare – As Zimbabwe’s economic environment continues to pinch businesses into folding, hotel and tourism giant African Sun has placed it’s iconic Monomotapa Hotel and Caribbea Bay Resort for sale.
The sale was announced in a cautionary statement issued out to shareholders and the investing public.
The company cites the sale as part of strategic move to unlock value.
“Further to the ongoing cautionary statements, the last one of which was on 25 April 2025, shareholders and the investing public are advised that, in keeping with the strategy of unlocking value, negotiations for the disposal of a selection of hospitality assets are still underway.Pursuant to the above, the Company has placed the Monomotapa Hotel as well as the Caribbea Bay Resort on the market for sale, ” advices the Company Secretary VT Musimbe through the statement.
The also advised stakeholders that if negotiations are successful, this will constitute a “Category 1” transaction, and accordingly, the Company would be seeking the approval of its shareholders at an Extraordinary General Meeting (“EGM”) to be convened at the appropriate time.
As part of the cautionary statement, the company advises shareholders and the investing public to tread cautiously during this period.
“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.”