Company profile

Makasa Sun (Private) Limited

Makasa Sun (Private) Limited is a Zimbabwean company whose sole asset is the Makasa Sun Hotel (formerly The Kingdom Hotel), a 294-room resort at 1 Mallet Drive, Victoria Falls, within the Victoria Falls National Park and adjacent to the Zambezi River. Architecturally inspired by Great Zimbabwe and historically a flagship property, it comprises accommodation, a casino, restaurants and bars, and conference facilities. The hotel has been closed and dormant since early 2023, when operator African Sun Limited exited after lease negotiations with the then-owner, First Capital Bank, collapsed; the bank held the asset through prior financing arrangements. Until May 2026 the company was owned equally by First Capital Bank Limited and the First Capital Bank Staff Pension Fund. In May 2026, ASB Hospitality LLC, a Dubai-based subsidiary of Albwardy Investment, completed the acquisition of 100% of Makasa Sun for USD 30 million and plans to refurbish and reopen it under a new international brand.

Sector

Consumer / Hotels

Markets

Zimbabwe

Ownership

Private

Source: Partner Researchers.