HomeBusinessMatetsi Lodge placed under liquidation

Matetsi Lodge placed under liquidation

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VICTORIA FALLS — Matetsi Water Lodge in Victoria Falls, a unit under the Rainbow Tourism Group (RTG), has been provisionally placed under liquidation after failing to settle salary arrears.

“The applicant company, Hathaway Investments (Pvt) Ltd, be and is provisionally wound up . . .” part of a High Court order by Honourable Justice Mavangira delivered in December, reads.

Hathaway Investments is a nominee company under RTG and had faced serious operational problems since ending its management agreement with Beyond (Pty) Ltd to manage Matetsi Water Lodge in 2011.

RTG has been trying to sell Matetsi off, but has struggled to secure a buyer.

The business, a group of three romantic lodges — West Water, North Water and East Water — along the Zambezi River, has been on sale for the past two years as RTG was disposing of its safari and tours operations.

The lodge closed for operations in December 2011 and the salary arrears as at August 2012 were standing at $275 000.

The business was facing an arbitration award to its 106 employees, but failed to raise the amount.

Zimbabwe’s tourism industry collapsed, along with the rest of the economy during a decade-long crisis blamed on Zanu PF, but has started recovering, recording over two million visitors in 2012.

— The Source

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