Regional and international investors have a unique opportunity to invest in a hotel project on the shores of Mozambique’s Cahora Bassa lake, Africa’s fourth-largest artificial lake.
A Turistica, a private company with a single shareholder, is the owner of the 28 hectares of titled land. An additional 10 hectares on the northern bank of the lake has also been secured. The site has already been approved for a three-star hotel by the Centro de Promoção de Investimentos (CPI), Mozambique’s Investment Promotion Centre.
The CPI seeks to bring investors to Mozambique and should be any investor’s primary contact with government. The CPI is particularly interested in increasing investment in the central and northern regions of the country in order to address large regional development imbalances. CPI’s endorsement of the project carries with it fiscal incentives such as exemption from import duties, value-added tax (VAT) and other duties. An environmental impact survey for the project has also been approved.
Interested investors can either buy A Turistca outright for US$1.5 million, or partner with the current owner, Gary Aitchison, in a joint venture agreement. Aitchison has been living in Mozambique for the past 12 years. He is fluent in Portuguese and has a deep understanding of all investment and land ownership laws.
The Property
This 28 hectare property currently has an income earning fuel and hardware facility that could be geared up to be extremely productive. In addition there is an existing homestead and guest house overlooking the Lake with a beautiful lapa and attractive pool. The total area under roof, which includes the homestead, guest house, pool and lapa, is in excess of 1,300 m2. It should be noted that the property has full power as a 100KVA transformer was installed on the site (property of the owner) six months ago.
Mozambique’s Tete Province has seen a dramatic increase in investment due to coal mining exploration and other related projects in recent months. With the completion of the Songo – Magoe tar road and the installation of the electricity line to Chicoa, Cahora Bassa has become more tourist and investment friendly.
For more information, contact Gary Aitchison at:
Email: wga@mgjlda.com