HomeBusinessIDC seeks $1m for Detema Lodge reconstruction

IDC seeks $1m for Detema Lodge reconstruction

-

HWANGE – Government-owned investment group,of Zimbabwe, says it is seeking an investor to inject $1 million to reconstruct Detema Safari Lodge, nearly three years after the lucrative tourist facility located in the prime wildlife vicinity of Hwange was gutted by fire.

Home


The facility, which consisted eight tree houses and 12 rondavels, was razed down by wildfire in September 2011.

Detema lodge general manager Godfree Zivanai told The Source that the IDC, which owns the facility, was prepared to enter into a build operate and transfer agreement or at least negotiate a shareholding structure with willing funders.

“But our estimates show that the investor has to bring in close to $1 million to completely refurbish the lodge,” he said.

Zivanai said this was the ideal time to reconstruct the lodge as investors can take advantage of a government directive to scrap duty on capital goods used in building tourism facilities.

IDC has been struggling to keep its wide array of businesses – which range from vehicle assembly, real estate and agrochemicals – afloat.

The government has said IDC needs at least $100 million in seed capital to fund its flagging projects.

– The Source

Recent Posts

Stories you will enjoy

Recommended reading