HOSPITALITY group African Sun Limited says it will cease operating Caribbea Bay Resort in Kariba with effect from Sunday, March 1, 2026, and Monomotapa Hospitality, owned by the Public Service Pension Fund (PSPF), will take over the property as a going concern.
The resort is being sold to the Public Service Pension Fund (PSPF), a State-managed, funded retirement scheme, which last year concluded the acquisition of Monomotapa Hotel for US$18 million.
In an advance notice to hospitality trade partners, tour operators, travel agencies, suppliers, and other tourism stakeholders, the company said the transition was subject to final regulatory approvals.
African Sun said it will work closely with Monomotapa Hospitality throughout March to ensure a smooth handover process with key accounts and stakeholders.
The move marks a shift in African Sun’s portfolio, one of Zimbabwe’s leading hotel operators, which has been rationalising its assets in recent years to focus on strategic properties within its network.
Transferring the resort as a going concern is expected to preserve jobs and maintain business continuity at the Kariba-based property, a key player in the resort town’s tourism offering.
Africa Sun assured that all bookings will be honoured to maintain confidence among travel partners and guests during the changeover period.
“African Sun Limited wishes to inform its valued hospitality trade partners, tour operators, travel agencies, suppliers and stakeholders in the tourism sector that, subject to final regulatory approvals, the Company will cease operating the hotel effective Sunday, 1 March 2026.
On that date, Monomotapa Hospitality will take over the hotel as a going concern, ensuring continuity of service.
“All existing bookings and reservations will be honoured by the new owners and the hotel staff will remain intact. African Sun will work closely with Monomotapa Hospitality during the month of March to ensure a smooth handover,” said African Sun in an advance notice of the transition.
According to African Sun, the disposal of its Caribbea Bay Resort business in Kariba is aimed at unlocking capital to refurbish priority assets, strengthen its liquidity position and sharpen its operational focus.
Discover more
National news updates
Zimbabwean art prints
Media company stocks
In a previous circular to shareholders, the hotel group said proceeds from the transaction will be channelled towards refurbishing and upgrading key properties within its portfolio.
These include Elephant Hills Resort, the Holiday Inn Harare, Holiday Inn Bulawayo, Holiday Inn Mutare and the iconic, The Victoria Falls Hotel.
African Sun said the sale is part of a broader strategy to transition towards a smaller, higher-quality portfolio, with a deliberate shift away from non-core assets.
The group has already completed the sale of Great Zimbabwe Hotel and is also pursuing the disposal of the Monomotapa Hotel and Caribbea Bay Resort.-herald
