The Public Service Pension Fund (PSPF) has completed the acquisition of the iconic Monomotapa Hotel from Africa Sun Limited, marking a significant milestone for Zimbabwe’s tourism and investment landscape. The landmark property will now be managed by Monomotapa Hospitality (Pvt) Ltd, a wholly owned subsidiary of PSPF.
The acquisition underscores PSPF’s commitment to preserving national heritage assets while creating long-term value for pensioners. As part of its investment strategy, the fund plans to modernise and upgrade the hotel to meet international standards, positioning it as a premier business and tourism destination in line with Zimbabwe’s Vision 2030.
PSPF said the move aligns with its broader goal of diversifying into real estate and hospitality investments that generate sustainable, inflation-protected returns for its members.
For Africa Sun, the sale forms part of a strategic portfolio realignment. The hospitality group intends to focus on higher-performing assets such as the Elephant Hills Resort and to channel proceeds into its new Marlborough Sunset Views project.
The transaction not only secures the future of one of Harare’s most renowned hotels but also signals renewed confidence in Zimbabwe’s tourism sector and its potential to drive economic growth.
