/ 16 December 1999

FRANCE INVESTS IN ZIM TOURISM

FRENCH hotel group Accor on Tuesday signed a $5,84-million deal with Zimbabwe’s Rainbow Tourism Group (RTG) at a ceremony sealing France’s largest single investment in the country since independence. Accor became the main shareholder in RTG, taking 35% of the group’s capital, sources involved in the deal said in Harare, where RTG owns the Sheraton, among other leading Zimbabwean hotels. Industry sources said that in the longer term, Accor could seek to acquire a further 30%of RTG’s capital.