Integrated business group Simba Corporation (Simba Corp) has completed the acquisition of a minority stake in Hemingways Holdings Ltd.
The acquisition of the 35 per cent shareholding in the luxury hotel brand, the firm said, would provide additional capital to fund growth and expansion within the Hemingways group of companies.
BUILD ON STRATEGY
The acquisition signals Simba Corp’s intent to grow its interests in the hospitality sector, from its current three properties - the Olare Mara and Villa Rosa managed by Kempinski as well as Acacia Premier Kisumu.
“Through our partnership with Hemingways, we intend to continue to build on this strategy. This investment is, therefore, aligned to Simba’s goal of creating a substantial hospitality business platform with the intention to expand nationally and within the region,” said Simba Corp Chief Executive Adil Popat in a statement.