Victoria Falls Set to See Tourism Growth as Zambezi Crescent Gains Full Control of Malachite Camp

 Zambezi Crescent has received official approval from the Zimbabwean government to acquire Zimbabwe Parks and Wildlife Management Authority’s (Zimparks) 50% stake in the Zambezi Joint Venture. This buy-out allows Zambezi Crescent to fully develop and operate Malachite Camp, one of the prominent lodges in Victoria Falls. The approval is set to streamline operations, unlock new capital, and position both partners for sustainable growth in Zimbabwe’s tourism industry.

The buy-out marks a key moment in the evolution of the Zambezi Joint Venture, originally created in 2021 to rejuvenate the underperforming Zambezi Camp Lodges along the banks of the Zambezi River. While Zimparks provided the rights to operate the lodges and their surrounding land, Zambezi Crescent was responsible for investment and development. With a total investment exceeding US$3 million, the joint venture aimed to bring the lodges up to market-related standards and increase their appeal to both domestic and international tourists.

However, challenges in meeting capital obligations and operational demands prompted the need for restructuring. The new agreement will enable Zambezi Crescent to more effectively implement its vision for Malachite Camp, ensuring its growth and attracting more visitors to the Victoria Falls region.

Revitalizing Malachite Camp and Enhancing Visitor Experience

As part of the buy-out, Zambezi Crescent will assume full control over Malachite Camp, located in the Victoria Falls area, a world-renowned destination for travelers seeking both luxury and adventure tourism. The camp is strategically situated to offer visitors access to the natural wonders of the region, including Victoria Falls, a UNESCO World Heritage site, and a range of wildlife and adventure activities such as safaris, rafting, and bungee jumping.

With increased control, Zambezi Crescent plans to enhance the camp’s offerings, introducing new services, facilities, and attractions aimed at improving the overall guest experience. This includes luxury accommodations, curated local tours, and tailored services designed to appeal to both leisure travelers and eco-conscious tourists. The development is also expected to improve the camp’s sustainability by incorporating more eco-friendly practices and highlighting the natural beauty of the surrounding environment.

As part of the transformation, Zambezi Crescent plans to expand the camp’s marketing efforts to draw attention from a global audience. With Malachite Camp’s new positioning, the resort will seek to attract visitors from key international markets such as Europe, North America, and Asia, as well as regional travelers from neighboring Southern African countries.

The buy-out of Zimparks’ stake in the Zambezi Joint Venture also marks a shift towards a more efficient and sustainable tourism model for Zimbabwe. Zimparks will continue to retain 100% legal ownership of the land asset, benefiting from guaranteed lease revenue from the camp, which will help support its conservation efforts and other protected areas across the country. This asset-light model allows Zimparks to focus on its primary mandate of wildlife conservation while still benefiting from the economic opportunities generated by tourism.

With the buy-out, Zambezi Crescent will be able to inject additional capital into the operation of Malachite Camp and other tourism-related ventures in Zimbabwe, strengthening the country’s tourism infrastructure. By improving its offerings, the partnership aims to boost tourism to Victoria Falls, a region that plays a key role in the country’s economy. The increased international interest and investment are expected to positively impact the local community through job creation and tourism-driven growth.

A Shift Towards Private Sector Leadership in Zimbabwe’s Tourism

This strategic move also highlights Zimbabwe’s shift towards privatization and public-private partnerships as the country’s tourism sector seeks to recover and expand. By allowing private sector investment, the government is aiming to revitalize iconic tourism assets like Victoria Falls and increase international tourism revenues.

As a major source of revenue for Zimbabwe’s economy, tourism has faced challenges in recent years, but the buy-out of Zimparks’ stake in the Zambezi Joint Venture offers a potential roadmap for the future. The involvement of private operators like  Zambezi Crescent is seen as a way to bring in much-needed investment and expertise while also ensuring that the country’s natural heritage is protected and promoted.

Implications for Africa’s Tourism Industry

The Zambezi Crescent buy-out in Zimbabwe offers valuable insights into how strategic restructuring and private sector partnerships can stimulate growth in underdeveloped tourism markets. Zimbabwe’s emphasis on improving its tourism infrastructure, combined with this partnership, showcases how countries in Africa can leverage public-private collaborations to attract global investment and improve service standards.

As competition intensifies in Africa’s tourism industry, the ability to adapt partnership models to local realities will be key to unlocking new growth opportunities. Zimbabwe’s model presents an example of how balancing state interests and private investment can enhance the visitor experience and regional connectivity.

Conclusion: A New Chapter for Tourism in Victoria Falls

The acquisition of Zimparks’ 50% stake in the Zambezi Joint Venture by Zambezi Crescent is an important milestone for both the company and Zimbabwe’s tourism industry. With full control of Malachite Camp, the company now has the opportunity to further elevate the guest experience and attract a wider international audience to Victoria Falls and the surrounding region.

As the tourism industry continues to recover and evolve, the ongoing efforts to improve infrastructure, strengthen partnerships, and boost Zimbabwe’s tourism offerings will play a crucial role in the country’s economic recovery and future growth. Zambezi Crescent’s approach to strengthening operations and increasing investment will ensure that Malachite Camp and other key tourist sites remain essential parts of the regional tourism landscape.

Source:  Victoria Falls Set to See Tourism Growth as Zambezi Crescent Gains Full Control of Malachite Camp (19/12/2025)