Company information

US firm signs $15.4 million funding deal for Zambia safari lodge

Orlando-based Capital Corp Merchant Banking has announced it has signed a formal investment proposal with Zambia’s Playland Limited to create the Cresta Mukuni Safari Lodge Victoria Falls.

Developing the project will be a US$15.4 million endeavour, which Capital Corp Merchant Banking will helm.

According to a company statement, the aim of the project is to build an internationally recognised 4-star safari lodge with modern facilities. Amenities and conveniences will cater for incentive groups from Europe and America with facilities that can also be used for local and regional markets in the European off-season. Apart from hotel accommodation, the project will offer other timeshare facilities that will cater to both local and foreign clientele.

Playland Limited has signed a management contract with Cresta Hospitality, a southern Africa hospitality group that manages and operates 13 properties in three countries (Zimbabwe, Botswana, and Nigeria), to manage its property.

Playland expects this to provide the development with the key personnel, marketing strategies, and implementation strategy needed to insure a smooth and efficient development.

Cresta Mukuni will be twinned with the Cresta Mowana Safari Lodge situated in the Botswana National Park.

According to its website, Capital Corp Merchant Banking is part of a group that was formed 25 years ago to meet the growing needs of clients looking for funding and professional assistance in a diversity of projects.

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