African Sun seeks delisting from Victoria Falls stock exchange after US$18M, US$4.2M hotel sales 

ZIMBABWE– African Sun Limited, Zimbabwe’s largest hotel group, has announced plans to delist from the Victoria Falls Stock Exchange as part of a broader strategy to restructure its business and unlock long-term value. 

The Harare-based company said its board approved the proposal on 12th February 2026, with shareholders expected to vote on the plan on 4th March 2026. If approved, the move will take the hospitality firm private, allowing it greater flexibility to implement strategic changes and focus on strengthening its core operations. 

At the same time, African Sun is continuing a series of asset sales. The company is currently negotiating the sale of the 83-room Caribbea Beach Resort to the state-owned Public Service Pension Fund (PSPF). This follows PSPF’s earlier acquisition of the 243-room Monomotapa Hotel and its adjacent parking lot for US$18M in November. 

The company has also been trimming its portfolio to concentrate on high-performing assets. In February 2025, African Sun sold the 56-room Great Zimbabwe Hotel and its management unit for US$4.2M marking another step in its ongoing restructuring. 

Despite these bold moves, African Sun continues to operate seven key properties one of them being the renown Victoria Falls Hotel. Often called “The Grand Old Lady of the Falls,” the historic property sits near the world-famous Victoria Falls and remains the company’s flagship asset. 

Financially, the group has shown steady recovery. For the year ending June 30, 2025, African Sun reported revenue of US$23.5 million and earnings before interest, taxes, depreciation and amortization of US$3.41 million representing a strong 61% increase compared to the previous year. 

Chairman Lloyd Mhishi expressed optimism about the country’s tourism outlook, pointing to the rising international travel demand and supportive government policies aimed at strengthening the hospitality sector. 

Zimbabwe’s improving economic environment is also some good news for the company. For instance, inflation recently fell to 4.1%, its lowest level in decades, helped by currency reforms and stronger economic stability. 

With its streamlined portfolio and improved financial performance, African Sun’s move to delist signals a decisive shift toward focusing on profitability, operational efficiency, and long-term growth in Zimbabwe’s evolving tourism landscape. 

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