Published: 3 hours ago

Top financial institution First Capital Bank (FCA) has finally secured a potential investor for its stake in Makasa Sun (Private) Limited, the company that owns a prominent Victoria Falls-based hotel, nearly a decade after first proposing the sale.

The bank, which holds a 50% shareholding in Makasa Sun - the entity behind the property formerly known as The Kingdom Hotel - first announced plans to dispose of its interest in early 2016. However, the move was later suspended due to internal strategic considerations.

In a cautionary statement issued this week, FCA confirmed that discussions with a prospective buyer are currently in progress.

"Further to the Cautionary Statement issued on 17 September 2025, the Directors of First Capital Bank Limited wish to advise all shareholders and the investing public that the Company and its co-shareholder are still engaged in negotiations with a potential investor regarding the proposed disposal of their respective shareholdings in Makasa Sun (Private) Limited," the bank said.

FCA added that it is in consultation with the Victoria Falls Stock Exchange to determine the appropriate classification of the transaction before making a formal market announcement.

The bank urged shareholders to remain cautious until a full statement is released.

"Shareholders are advised to exercise caution when dealing in the Company's shares until a full announcement is made. The Board will keep the market and shareholders informed of any material developments relating to this disposal," FCA said.
- NewZimbabwe

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