Old Mutual To Construct A Hotel And Conference Center In Vic Falls

The property and investment ZSE listed Old Mutual is diversifying its portfolio of properties with a plan to construct what the Sunday Mail called a massive hotel and conference centre in the resort town of Vic Falls. This came to light as the publication spoke to Old Mutual Group CEO Jonas Mushosho on the sidelines of Old Mutual Financial results presentation. Mr Mushosho said:

In Victoria Falls, we are looking at both a hotel and conference centre. We are diversifying geographically, a lot of our properties have been concentrated in big centres like Harare and Bulawayo, but we believe there are other areas of interest and economic activity, so we have diversified into Hwange, Victoria Falls and into Ngezi.

Victoria Falls is major tourism destination and we believe that it is important to develop an ecosystem that supports the tourism; therefore, our developments and investments there are part and parcel of supporting that ecosystem. Tourism in Vic Falls is an important part of what’s happening in the country.

We are going through various studies and doing alignment with other investors to make sure that our development is in line with that ecosystem, a lot of work is currently under way

The move will reportedly increase room capacity for Vic Falls and Zimbabwe as a whole. According to the same publication, the whole of Zimbabwe has fewer rooms than Sandton on Joburg alone.

More: Sunday Mail