African Sun Appoints New Chairman

Harare — Hospitality group, African Sun Limited, has appointed Mr Alex Makamure as the new board chairman with effect from June 29, 2018. Mr Makumure takes over the reign of the board from Herbert Nkala, who stepped down on June 28. Prior his ascendency to board chair, Mr Makamure served as the finance and audit committee chair.

“Mr Makamure has been a member of the African Sun Board for the past six years having joined on 17 October 2012.

“The board and management of African Sun congratulates Mr Makamure on his appointment and wish him success in this new role,” said African Sun.

The outgoing chairman, Mr Nkala was appointed to the board on November 24, 2018 before becoming chairman in March 2015.

Mr Nkala leaves the hospitality group at a time it was beginning to turnaround its fortunes.

During his time, African Sun paid its first dividend in nearly a decade as operations improved buoyed by hotel refurbishments.

African Sun recently reported a 30 percent revenue increase to $20 million for the five months to May 2018 compared to same period last year on the back of improvements in hotel occupancy, which was at 53 percent.

Domestic revenue increased 28 percent to $11 million. At $9,3 million, foreign revenue was 32 percent above prior year as foreign arrivals increased by 24 percent. It is anticipated the hospitality industry will have a good year on the back of anticipated increase in arrivals ahead and during election period with observers from all over the world flocking to Zimbabwe while others are coming to scout for investment opportunities.

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