{{Short description|Company based in Zimbabwe}} {{Primary sources|date=April 2010}} {{Infobox company | name = AfricanSun | logo = Africansun-logo.svg | logo_size = 200px | type = Public | traded_as = {{unbulleted list|{{Zimbabwe Stock Exchange|ASUN}}|Zimbabwe Industrial Index}} | founded = 1968 | location = Harare, Zimbabwe | key_people = E.T Shangwa, CEO. Alex Makamure, Chairman | website = [http://www.africansunhotels.com/ Africansunhotels.com] | industry = Hotels | num_employees = 2250 | revenue = USD 35.2 million (2009) }} '''African Sun Limited''', is a Zimbabwe based hospitality management company established in 1968. It operates in the hospitality and leisure industry through a number of hotels, resorts, casinos and timeshare operations throughout Zimbabwe and South Africa. It is listed on the Zimbabwe Stock Exchange<ref>{{Cite web|url=http://www.zimbabwe-stock-exchange.com|title=Zimbabwe Stock Exchange website|website=www.zimbabwe-stock-exchange.com|language=en-US|access-date=2017-09-06}}</ref> and is a constituent of the Zimbabwe Industrial Index.
== History ==
The group spun off from the Delta Corporation in 2003 with Shingi Munyeza as CEO.<ref name="theindependent 2016/04/29">{{cite web|url=https://www.theindependent.co.zw/2016/04/29/african-sun-zim-africa-back/|title=African Sun: Zim, Africa and back|website=Theindependent.co.zw|date=29 April 2016|accessdate=31 October 2019}}</ref>
In 2011, African Sun retrieved from the management of The Grace hotel in Rosebank, Cape Town.<ref>{{cite web|url=https://mg.co.za/article/2011-09-02-saying-goodbye-to-grace|title=Saying goodbye to Grace|website=Mg.co.za|date=2 September 2011|author=Firdose Moonda|accessdate=31 October 2019}}</ref> By 2012, it managed 1,000 rooms.<ref name="theindependent 2016/04/29"/> In 2009, Africa Sun welcomed the US President Barack Obama in its Holiday Inn-managed hotel at the Accra airport (in Ghana).<ref>{{cite web|url=https://www.eturbonews.com/20178/accra-welcomes-barack-obama-his-first-ghana-visit/|title=Accra welcomes Barack Obama for his first Ghana visit|website=Eturbonews.com|date=15 July 2009|accessdate=31 October 2019}}</ref>
In January 2015, the company sold its hotels in Ghana and Nigeria, and announced a year later its withdrawal from regional operations to focus on its domestic market.<ref>{{cite web|url=https://www.chronicle.co.zw/african-sun-abandons-regional-operations/|title=African Sun abandons regional operations|website=Chronicle.co.zw|date=6 April 2016|accessdate=31 October 2019}}</ref> In March 2015, Shingi Munyeza left and E.T Shangwa became the CEO.<ref>herald.co.zw, [http://www.herald.co.zw/sun-sets-on-shingi-munyeza/ Shingi Munyeza leaves African Sun], Zimbabwe, April 1, 2015</ref>
In February 2016, African Sun paid a 200,000-dollar water bill to the municipality of Victoria Falls to clear its outstanding 383,000-dollar debt.<ref>{{cite web|url=https://www.herald.co.zw/african-sun-settles-municipality-bill/|title=African Sun settles municipality bill|website=Herald.co.zw|date=24 February 2016|accessdate=31 October 2019}}</ref> In July 2016, African Sun bought 2,050 m2 of the Harare Gardens to extend the Crowne Plaza Momomotapa Hotel, a deal that was in the pipes since 2010.<ref>{{cite web|url=https://www.herald.co.zw/city-african-sun-deal-gets-nod/|title=City-African Sun deal gets nod|website=Herald.co.zw|date=9 July 2016|accessdate=31 October 2019}}</ref> In October 2017, Brainworks, African Sun's holding company, was introduced in the JSE, the first Zimbabwe-based company to be indexed on the South African stock exchange.<ref>{{cite web|url=https://www.businessinsider.co.za/jse-listed-brainworks-wants-to-postpone-zimbabwe-stock-exchange-listing-until-at-least-2019-2018-4|title=The JSE-listed owner of the Victoria Falls Hotel promised Zim it would list there too. Now it wants a postponement until elections are done.|website=Businessinsider.co.za|date=6 April 2018|author=Phillip de Wet|accessdate=31 October 2019|archive-date=26 October 2020|archive-url=https://web.archive.org/web/20201026171457/https://www.businessinsider.co.za/jse-listed-brainworks-wants-to-postpone-zimbabwe-stock-exchange-listing-until-at-least-2019-2018-4|url-status=dead}}</ref> In July 2018, Nkala stepped down, and Alex Makamure was appointed new chairman of the board.<ref>{{cite web|url=https://www.herald.co.zw/african-sun-appoints-new-chairman/|title=African Sun appoints new chairman|website=Herald.co.zw|date=5 July 2018|accessdate=31 October 2019}}</ref>
In 2018, the group's revenue grew 32% to 68.5 million dollars,<ref name="herald flirtation">{{cite web|url=https://www.herald.co.zw/african-sun-ends-legacy-flirtation/|title=African Sun ends Legacy flirtation|website=Herald.co.zw|date=6 May 2019|author=Tawanda Musarurwa}}</ref> and it spent 5.8 million dollars in refurbishments.<ref>{{cite web|url=https://www.theindependent.co.zw/2018/03/29/african-sun-spends-us58m-facelifts/|title=African Sun spends US$5,8m on facelifts|website=Theindependent.co.zw|date=29 March 2018|accessdate=31 October 2019}}</ref> In 2019, the Zimbabwe fuel protests led to revenue drops for African Sun.<ref>{{cite web|url=https://www.fin24.com/Companies/TravelAndLeisure/zimbabwe-hoteliers-count-the-cost-of-chaos-20191008|title=Zimbabwe hoteliers count the cost of chaos|website=Fin24.com|date=8 October 2019|author=Memory Mataranyika |accessdate=31 October 2019}}</ref>
In May 2019, African Sun terminated its deal with the South-African Legacy Hospitality regarding the management of 5 of its hotels.<ref name="herald flirtation"/> The deal was running since October 2015, and implied that Legacy Hospitality would refurbish the properties it would manage.<ref>{{cite web|url=https://www.iol.co.za/business-report/companies/legacy-hotels-to-help-african-sun-1919357|title=Legacy Hotels to help African Sun|website=Iol.co.za|date=22 September 2015|author=Tawanda Karombo|accessdate=31 October 2019}}</ref> The deal cancellation was justified by "disagreements", and African sun assured that Legacy Hospitality was actually not in charge of refurbishing the hotels under management.<ref>{{cite web|url=https://www.herald.co.zw/african-sun-opens-up-on-legacy-deal/|title=African Sun opens up on Legacy deal|website=Herald.co.zw|date=9 May 2019|accessdate=31 October 2019}}</ref> Two months later, Legacy Hospitality appealed the cancellation in court.<ref>{{cite web|url=https://www.newzimbabwe.com/legacy-challenges-african-sun-contract-cancellation/|title=Legacy challenges African Sun contract cancellation|website=Newzimbabwe.com|date=8 July 2019|author=Alois Vinga|accessdate=31 October 2019}}</ref>
== References == {{Reflist}}
== External links == * [http://www.africansunhotels.com/ Official website]
Category:Hospitality companies of Zimbabwe Category:Hospitality companies established in 1968 Category:Companies listed on the Zimbabwe Stock Exchange Category:1968 establishments in Rhodesia
{{Africa-hotel-stub}}