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Cresta Marakanelo, the largest operator in Botswana listed on the Botswana Stock Exchange on the 28th of June 2010m, an historic occasion for the Cresta group. Cresta Marakanelo opened its initial offer to the public on 17 May 2010. The public response to the offer was amazing, with copies of the listing prospectus running out after a week.
Cresta Marakanelo is the operating company for the 8 Cresta hotels in Botswana. The company was established in 1987, when Cresta Hospitality was awarded the Management contract for the Marakanelo Hotels in Botswana by the Botswana Development Corporation.
From an initial portfolio of 247 rooms under management, the company now manages 724 rooms in Botswana, with the addition of beautiful properties such as Cresta Lodge (Gaborone) and Cresta’s flagship Mowana Safari Lodge in 1991 and 1993 respectively.
Prior to listing, Cresta Marakanelo was jointly owned by the Botswana Development Corporation and TA Botswana.
Established in 1970, the Botswana Development Company is the investment arm of the Botswana Government. BDC’s main aim is to be the country’s main agency for commercial and industrial development. BDC has interests in industry, property development and management, agribusiness and services.
TA Botswana is ultimately owned by TA Holdings Limited, a company listed on the Zimbabwe Stock Exchange, with an investment portfolio that extends from Zimbabwe to Botswana, South Africa, Uganda and Nigeria. TA Holdings’ portfolio spans the Hospitality, Insurance, Investment Management and Agrochemical sectors. Its hospitality arm, Cresta Hospitality Holdings, is one of Southern Africa’s largest hotel management groups, managing or operating 13 hotels in Zimbabwe, Botswana and Nigeria.
The listing of Cresta Marakanelo Limited is premised on the investment policy of the Botswana Development Corporation which requires it to sell down stakes in mature businesses in which they are invested to citizens of Botswana in order to empower them
Any questions or responses should be directed to Ms Rusu Tairoodza Cresta Hotels Marketing Department, South Africa TEL: +27 11 881 1200
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