Letlole investors approve P235m Cresta deal
Friday, February 15, 2019
The hotels are President Hotel, Cresta Lodge, both in Gaborone, Thapama Hotel in Francistown and Cresta Bosele in Selebi-Phikwe.
The deal is classified as a related party transaction as the Botswana Development Corporation holds 66% equity in Letlole and 27% in Cresta. Cresta is the current tenant of the properties it is taking over under a 10-year lease due to expire on June 30, 2020. The leases are held on a fixed rental structure with an annual compounded escalation, an arrangement that is increasingly uncommon in the hospitality industry.
The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...