Zimbabwe Parks and Wildlife Management Authority (ZimParks) has reached a US$3 million deal with Zambezi Crescent (Pvt) Ltd to upgrade its lodges at Zambezi Camp in Victoria Falls.
This joint venture is set to significantly improve the performance of the Zambezi Camp Lodges, which are strategically located along the banks of the Zambezi, but have been performing poorly over the years.
Zambezi Crescent, owned by Mark and Amanda Bosch, runs two properties in Victoria Falls; the River Lodge Luxury Tented Suites and the Victoria Falls River Lodge.
Speaking at the post cabinet briefing this week, Information Minister Monica Mutsvangwa said ZimParks and Zambezi Crescent are in partnership for the revamping and upgrading of all of ZimParks lodges at Zambezi Camp in Victoria Falls to an agreed market-related status at a total cost of US$3 009 000.
“This amount will be contributed by the investor, while ZimParks will provide exclusive rights to the use of the lodges at the camp and their surroundings. The project will be implemented as a joint venture over 25 years with the parties sharing profits on a 50/50 basis,” she said.
Separately, Minister Mutsvangwa announced that government has reached a land deal with Old Mutual Life Assurance Company (OMLAC) on the company will be granted a lease on over 55 hectares of land in the Victoria Falls Special Economic Zone (SEZ) and undertake a US$430 948 feasibility study on the development of infrastructure in the Masuwe area of Victoria Falls.
“In lieu of payment for the feasibility study cost, Mosi Oa Tunya Development Company (MOTDC) will grant OMLAC a lease over 55 hectares of land for construction of a 4-star hotel with a 5 000-seater conference centre, a hospital facility, a golf course, and a shopping mall on land to be allocated by Government. OMLAC will then have to pay rentals after recovery of the cost of the feasibility study,” she announced.
MOTDC is an arm of the Ministry of Tourism, which will represent government’s interests in the deal.
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