Top financial institution First Capital Bank (FCA) has finally found an investor for its stake in Makasa Sun (Private) Limited, the entity that owns a Victoria Falls-based hotel, nearly a decade after first proposing the sale.
The bank initially announced plans to dispose of its interest in early 2016 but later shelved the move citing internal strategic decisions. First Capital Bank holds a 50% shareholding in Makasa Sun, which owns the prestigious property formerly known as The Kingdom Hotel.
In a cautionary statement published this week, FCA confirmed that a suitor has been identified and discussions are currently underway.
“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,” FCA said.
The company added that consultations are ongoing with the Victoria Falls Stock Exchange to determine the classification of the transaction, after which the market will be updated.
Accordingly, shareholders have been urged to exercise caution.
“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.
