Parks Eye Restaurant Chain

Source: Financial Gazette (Harare)

Date: 19 September 2007

Author: Shame Makoshori

The Parks and Wildlife Management Authority (PWMA) yesterday unveiled plans to develop its restaurants around the country's national parks and bring them under a new brand called Water Buck.

The authority is seeking funding for the development and refurbishment of its restaurants from both local and foreign investors, who could become joint venture owners of the restaurants, PWMA's business development manager Simukai Nyasha told an investment conference in Harare this week.

Water Buck restaurants would be established in 22 PWMA sites around the country and are expected to boost efforts to revive the declining domestic tourism in the country, Nyasha said.

"The idea is to establish a brand name like Nando's," Nyasha told the business executives.

"We have proposed that the brand will be named Water Buck and we intend to establish these restaurants in each of our 22 national parks sites," Nyasha told the investors.

Under the proposed joint venture project, the PWMA announced yesterday that it would negotiate business deals with interested investors to upgrade, refurbish and establish upmarket facilities on the parks estates in Victoria Falls, Hwange National Park, Zambezi Valley, the Eastern Highlands and many other areas.

Potential investors would be expected to present project proposals to the authority indicating the level of equity they would want to take up.

The offers are subject to approval by government.

In Victoria Falls, the PWMA would seek joint venture partners for the development of tourism sites, transforming existing structures into modern and more upmarket facilities to cater for domestic and foreign tourists.

"Victoria Falls is the world's most spectacular waterfall," Nyasha said.

"The Parks and Wild Life Management Authority will seek joint ventures for the construction of activity areas in the Zambezi National Park and upgrading two fishing camps that can operate as business dinner sites. At the moment the facilities are just offering basics.," he said.

In the Zambezi Valley, the PWMA has sought joint ventures for the establishment of an upmarket fishing camp at Chewore River mouth.

Joint venture partners in the construction of hotels are expected to surrender the properties to the PWMA after 25 years while those who will take opportunities in hunting would operate for 10 years. However, potential investors were worried about the compensation levels on their investments, while others said the 10-year tenure was too short to generate good returns.