ASL exits iconic Great Zimbabwe Hotel, KEFMEG takes full control

SAMANTHA MADE

African Sun Limited (ASL), a publicly traded hospitality group, is set to exit its management of the iconic Great Zimbabwe Hotel, transferring full ownership and operations to KEFMEG Investments next week, Business Times can report.

The move marks a significant shift, placing the historic Masvingo property under the control of KEFMEG Investments Private Limited, a company controlled by the Mewame Family.

The transition is expected to usher in a new , whose operating company is ushering in a new era of growth and transformation for the renowned hotel.

ASL, which initially announced the transaction on February 12, 2025, has assured stakeholders—including hospitality trade partners, tour operators, travel agencies, and suppliers—that the transition will be seamless. All existing bookings will be honored, and the hotel’s staff will remain in place to ensure continuity of service.

ASL confirmed that KEFMEG Investments would take over the Great Zimbabwe Hotel as a going concern, meaning that operations will continue without interruption. The company emphasized that the new owners are committed to maintaining service standards and upholding the hotel’s reputation as a key tourism destination near the historic Great Zimbabwe ruins.

“…ASL wishes to inform its valued hospitality trade partner , tour operators, travel agencies, suppliers and stakeholders in the tourism sector that the company will cease owning  and operating the hotel effective April1, 2025. KEFMEG will take over the hotel as a going concern, ensuring continuity of service,”ASL said.

The sale of the Great Zimbabwe Hotel aligns with the Mewame Family Trust’s strategy to expand its tourism portfolio. The trust, a key player in Zimbabwe’s tourism and property development sectors, is headquartered in Harare and has been steadily increasing its investment in hospitality assets. ASL previously disclosed that the trust had identified the Great Zimbabwe Hotel as a strategic acquisition to complement and enhance its existing tourism properties.

As ASL prepares to exit its role in managing the Great Zimbabwe Hotel, the company has expressed its gratitude to clients, partners, and stakeholders who have supported the establishment over the years.

African Sun Limited is a leading hotel asset management firm and a publicly traded company on the Victoria Falls Stock Exchange (VFEX). The company operates a diverse portfolio of hotels strategically located across Zimbabwe, positioning itself as a key player in the nation’s tourism sector. Currently, African Sun manages ten hotels, with a mix of owned and leased properties. The company’s owns hotels include Holiday Inn Mutare, Monomotapa Hotel, Troutbeck Resort, Elephant Hills Resort and Conference Centre, Hwange Safari Lodge, Caribbea Bay Resort, and, until March 31, 2025, the Great Zimbabwe Hotel. Additionally, ASL leases Holiday Inn Harare, Holiday Inn Bulawayo, and The Victoria Falls Hotel, ensuring a strong presence in major tourism and business hubs across the country.

The divestment of the Great Zimbabwe Hotel reflects ASL’s evolving strategic focus, potentially paving the way for new investment opportunities and growth initiatives within its core portfolio. The company continues to refine its asset base, prioritizing properties that align with its long-term objectives.

The transfer of ownership is part of a broader trend in Zimbabwe’s hospitality sector, where private investors and trusts are increasingly acquiring established assets to modernize and expand the country’s tourism infrastructure. The Mewame Family Trust’s investment signals confidence in Zimbabwe’s travel and hospitality industry, particularly in the historical and cultural tourism segment.

KEFMEG Investments is expected to introduce fresh capital, potential renovations, and enhanced service offerings at the Great Zimbabwe Hotel. This move is anticipated to boost the hotel’s appeal to both domestic and international tourists while preserving its historical significance.

For ASL, this transition marks a key step in its corporate strategy, allowing the company to optimize its operations and concentrate on high-value assets within its expanding footprint.

As the Great Zimbabwe Hotel changes hands next week, industry stakeholders will be closely watching how KEFMEG Investments implements its vision for the iconic property. The hospitality sector in Zimbabwe continues to evolve, and this latest development highlights the shifting dynamics shaping the nation’s tourism landscape.