The Zimbabwe Stock Exchange (ZSE) market value for the week weakened by 5 percent during the week after the 2023 National Budget presentation during which Finance and Economic Development Minister Professor Mthuli Ncube cut his economic forecast for 2022. On November 24, 2022, Professor Ncube presented a $4,5 trillion 2023 budget whose main thrust is…
By Alois Vinga
THE contract termination of Legacy Hospitality Management Services (LHMS) by leading hotelier, African Sun is yet to be finalised by the courts amid assurances that operations will continue unaffected.
In 2015, African Sun entered into an agreement which gave LHMS rights to run hotels which include Elephant Hills in Victoria Falls, Monomotapa in Harare, Troutbeck Resort in Nyanga, Hwange Safari Lodge and the Kingdom at Victoria Falls Hotel, among others.
However, following some disagreements, African Sun terminated the LHMS contract after an arbitral award’s ruling in favour of the move.
In an update recently, the hotelier’s board chairman, Alex Makamure said the courts were yet to reach finality on the matter.