Cresta Marakanelo says its investments in Zambia are safe following the purchase of a hotel in Lusaka. The company last year acquired Golfview Hotel Ltd in Zambia for the total amount of P20 million and already analysts were asking whether the investments will not be compromised as it happened with other investors from Botswana who has bad experiences.

Cresta’s Chief Financial Officer, Valentine Mganga said Zambia has incentives for foreign direct investments, which makes sense for the company to buy more properties if sensible business comes that side.

“The benefits we have seen in Zambia outweigh the challenges,” Mganga explained at the meeting of shareholders and analysts. Although admitting there are challenges anywhere in Africa, it will make sense for the group to have more assets saying “we intend to grow”.

Already, Golfview Hotel competes with more established brands like Taj Pamodzi Hotel and Southern Sun amongst big hotel in Lusaka. However, Mganga said their advantage is that they are targeting Non Governmental Organisation (NGOs) who might be working on tight budgets. “Our competitive edge is that we have big conference centres and we are targeting NGOs,” he said.

The 78 roomed Golfview Hotel based in Lusaka is luxurious, moderately priced (all en-suite, WI-FI enabled, and air-conditioned) three star property. The property is located near the airport as well as the Central Business District (CBD) and it boasts four spacious Conference Facilities and two Executive Boardroom, for all your functions, whatever the occasion.

Golfview provides airport transfer service and, as with all Cresta properties, a pleasant stay, a home away from home. The University of Zambia, Manda Hill Shopping Centre, and Arcades Entertainment Centre are only 5 minutes away.

Cresta is targeting to add 2 to 3 properties in Zambia in the next three years as part of the strategy to increase presence the SADC region. Mganga added the decision to go to Zambia was political stability and that the medium of communication is English. In Botswana, Cresta is already increasing its footprint with the addition of 65-roomed Cresta Mahalapye which will serve the Central District of Botswana.

“We are in negotiation with various parties and if successful we might be able to come to the market with the deals we are negotiating,” Cresta Managing Director, Tawanda Makaya noted. Cresta may also be looking at areas along the Trans Kalahari Highway where it currently has no much presence.

Cresta has a number of operations in Botswana including major centres of Gaborone, Francistown, Selebi-Phikwe, Palapye, Mahalapye, Kasane and Maun. It also operates in Zimbabwe where it has presence in Harare, Bulawayo and Victoria Falls.