European hotelier interested in RTG stake as NSSA sets NBS, Zimre Capital as advisors
HARARE – The National Social Security Authority (NSSA) has appointed Zimre Capital and the National Building Society (NBS) as its financial advisors to assist with the evaluation process for the disposal of its stake in the Rainbow Tourism Group (RTG).
NSSA owns 91.5% of RTG’s issued shares and plans to reduce its ownership to less than 50% by the end of 2025 to comply with Zimbabwe Stock Exchange rules and criteria.
An official informed FinX that “NSSA successfully appointed ZHL and NBS as its financial advisors to assist in evaluating the disposal of its stake in RTG.”
The official added that the evaluation process for prospective strategic partners is ongoing, and due diligence is currently in progress.
Already, the company has a new potential buyer with whom its advisors are engaging. This potential buyer is said to be from Europe. “It’s a European hotelier,” the official added without giving further details.
Beyond the financial aspect, the arrival of a European hotelier carries the promise of introducing an internationally recognised brand name to the country. This branding power can significantly enhance Zimbabwe’s visibility in the global tourism market, potentially attracting a wider range of international travellers.
Furthermore, the expertise and operational standards that come with an established European hospitality group are invaluable. This could lead to a notable uplift in service quality, staff training, and the overall guest experience within the Zimbabwean hospitality sector. The adoption of international best practices can elevate the country’s tourism offering, making it more competitive on a global scale.
This infusion of international standards could also have a ripple effect, encouraging local players to raise their own benchmarks and foster a culture of excellence within the industry. Ultimately, a successful deal could position Zimbabwe as a more attractive destination for international tourists and investors alike, contributing to the long-term growth and sustainability of its tourism sector.-finx
