Grand Palm to have new owners

The Grand Palm is Gaborone's only five star hotel PIC: KAGISO ONKATSWITSE
The Grand Palm is Gaborone's only five star hotel PIC: KAGISO ONKATSWITSE

The Grand Palm Hotel, Gaborone’s only five star hotel, is set to have new owners if a proposed deal for current controlling shareholder, Peermont Global to divest goes through.

Peermont Global owns 60% in Peermont Botswana, which in turn runs the Grand Palm Hotel and Casino, Mondior, Metcourt and the casino at Sedibeng hotel in Francistown.

In a deal that is currently being examined by the competition authorities in Botswana and South Africa, a US company, Golden Tree Asset Management LP together with South Africa’s MIC Leisure have proposed to jointly acquire Peermont Global.

Editor's Comment
Stakeholders must step up veggie supply

The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...

Have a Story? Send Us a tip
arrow up