With its latest acquisitions, top-notch tourism outfit, Wilderness Safaris will now start operating in Kenya and Rwanda, exposing its portfolio to European currency, thus diversifying their currency from being US Dollar based.
The group currently gets a lot of foreign currency because most of visitors into Southern Africa are from the United States, while East African market normally attracts European tourists.
The Botswana Stock Exchange (BSE) led by Chief Executive Officer (CEO) Keith Vincent has operations focused on safaris in very wild, pristine and remote parks. The company has announced the acquisition of Governors’ Camp Group of Companies in Rwanda, marking an expansion of the group portfolio into the East African market.
Wilderness has concluded agreements with Monitor International Holdings Limited (“the Vendors”) to acquire 51 percent of the share.
With the board of directors chaired by Parks Tafa, the operators of Mombo Lodge in the heart of the Okavango says its current operations are concentrated in southern Africa, and management is of the view that acquisition of a controlling stake in the Governors’ business represents a compelling opportunity for expansion into East Africa.
Wilderness has concluded agreements with Monitor International Holdings Limited (“the Vendors”) to acquire 51 percent of the shares and shareholder loan accounts of Musiara Limited, Governors’ Aviation Limited, Goodison Ninety One Limited, Goodison Forty Two Limited (all registered and operating in Kenya); and Governors’ Camps Rwanda Limited and Governors ‘Safaris Rwanda Limited (both registered and operating in Rwanda).
Wilderness directors stated that the above acquisitions constitute the Transaction and the above named companies own and operate the Governors’ Camp Collection of camps and lodges in East Africa. “The remaining 49 percent of the equity in these companies will continue to be held by the Vendors who represent the interests of the founders and previous and present management,” Wilderness directors stated.
The Governors’ Camp Collection, founded in 1976, owns and operates a selection of award-winning safari camps and lodges in the heart of East Africa’s best game viewing areas.
The Governors’ Camp Collection, founded in 1976, owns and operates a selection of award-winning safari camps and lodges in the heart of East Africa’s best game viewing areas. “This is one of the oldest and most iconic safari brands in Africa,” directors said, further citing that the location in the Masai Mara National Reserve in Kenya has been featured in multiple BBC and other wildlife documentaries. They also stated that the brand was expanded into Rwanda in 2007, through the addition of Sabyinyo Silverback Lodge, a mountain gorilla trekking offering in Virunga National Park.
The parties also believe that post measure; the Governors’ main market is sourced from Europe, whereas Wilderness Safaris’ main source market is the United States. “This creates cross selling opportunities, best operating practices, in terms of lodge operations, aviation and reservations can be shared to mutual advantage,” the directors said.
Both parties are committed to a program to boost future occupancies and revenue by renovation of the lodges and targeted marketing expenditure. The Governors’ business also represents an ideal springboard for expansion into other East African countries using a well-known local brand and management who are familiar with local markets and conditions.
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