daniel chigunwe
Business Writer
African Sun, Zimbabwe’s largest hotel group, has appointed Lawrence Ward the new chief executive with effect from July 1, 2024, having occupied the position on an acting capacity since January this year.
Ward in January replaced Peter Saungweme, who had held the position for two years after replacing Edwin Shangwa, who had led the company for 42 years.
In a statement, African Sun said Ward joined the company in April 2023 and was appointed chief operating officer on December 8, 2023, and subsequently acting chief executive with effect from January 20, 2024.
“Ward has over 25 years of executive management experience, both internationally and throughout Africa, primarily in hospitality and development projects, including exposure to best-in-class hotel brands such as Four Seasons, Hyatt, InterContinental Hotels Group (IHG), and Singita,” reads the statement.
Ward is a Chartered Accountant (Zimbabwe), having served his articles with Ernst & Young Mutare office and holds a Bachelor of Commerce degree from Rhodes University in South Africa.
“The Board has full confidence in Ward’s ability to lead the company through this period of strategic change. His extensive expertise and established track record in the hospitality industry align seamlessly with our dedication to delivering improvements and value to all our stakeholders,” the company said.
African Sun recently disposed of two under-performing hotels for US$6,9 million as part of a strategic move to optimise its portfolio and bolster its financial position.
The Group resolved to sell the Great Zimbabwe Hotel on March 22, this year, while the agreement for the Beitbridge Express Hotel was executed on July 18, 2024.
The agreement for the Great Zimbabwe Hotel followed on August 15, 2024, with the effective date for the transactions set for November 1, 2024.
In a circular, the company said; “Further to the cautionary announcement dated 29 August 2024, the directors of Meikles Limited wish to advise shareholders that discussions on the disposal of certain of its assets are still in progress, which, if successfully concluded, may have a material effect on the company’s shares.”
The group’s portfolio includes iconic hotels like Monomotapa, Elephant Hills, Caribbea Bay, Hwange Safari Lodge, Holiday Inn and Troutbeck Inn.
Africa Sun also co-owns The Victoria Falls Hotel with Meikles.
Bongani Ndlovu