THE National Social Security Authority (NSSA) has completed the construction of the $32 million Beitbridge Hotel and is scouting for potential clients that could take over its management.
Victoria Mtomba
NSSA managing director James Matiza last week said two companies had so far expressed interest to manage the 140-room hotel. “We have completed the hotel. What is left is to secure the management company.
“We have two candidates who want to run the hotel. We have RTG (Rainbow Tourism Group) as one of the companies. We have got a proposal from Tourvast.
“They made representation and have hotels in the country,” Matiza said.
“We will be having a meeting with the board investment committee on Tuesday (tomorrow) on the company that will take over the management of the hotel,” he said.
Matiza said the management company required $3 million to equip and buy beds for the hotel.
He said the company was looking forward to opening the hotel doors in September.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
The hotel construction began during the Zimbabwean dollar era, stopped and resumed in 2009, but had been delayed due to a lack of skilled manpower.
NSSA has been working with RTG on the hotel under a memorandum of understanding.
Meanwhile, Matiza said at its meeting tomorrow NSSA would also discuss developments at Capital Bank.
“Capital Bank is a sensitive topic at the moment, as you are aware the Reserve Bank of Zimbabwe governor Gideon Gono will be giving a statement on the capitalisation of banks end of this month. We are shying away from capitalisation,” he said.
NSSA gained a controlling stake of 84% in Capital Bank following the lifting of the bank’s curatorship by the central bank in March under a $24 million deal.
The bank was rebranded from ReNaissance Merchant Bank following the injection of fresh capital and the subsequent removal from curatorship.
NSSA early this year indicated that it had plans to collapse Capital Bank operations as the future of merchant banking looks bleak.
