23 Nov 2022

The Debswana Pension Fund (DPF) has partnered with Cresta Marakanelo to construct a four-star boutique hotel in Jwaneng.

The P68 million double storey property will comprise 50 rooms, with 25 rooms per floor.  and construction is expected to take 14 months. 

The move was hailed as timely when the country was looking to diversify the economy and reduce reliance on minerals, by speakers at the ground-breaking ceremony on Tuesday.

The acting Minister of Environment and Tourism, Mr Setlhabelo Modukanele indicated that the decision by the two entities to invest in a hotel business was very thoughtful as it would help uplift the tourism and hospitality sector. 

He added that the project also marked a key milestone of partnership between the two parties.

“The tourism sector hold immense potential in terms of job creation because of its ability to stimulate growth in other sectors linked to travel and tourism. The COVID-19 pandemic has made ownership of tourism economy by citizens even more urgent as this will facilitate sustainability in the tourism sector and reduce reliance on international tourists,” he said.

Mr Modukanele indicated that apart from job creation and boosting tourism and hospitality in the area, the new hotel will also add a new product in Jwaneng and its surroundings.

“This effort is in line with the Revised Tourism Policy whose aim is to position Botswana as a tourism destination of choice by the year 2030 and beyond,” he said.

Mr Modukanele also urged hotels to promote indigenous products, culture and identity, which he said would be an indication of truly being proud of one's self and help Batswana rediscover themselves.

DPF chief executive officer, Ms Gosego January said the project, which had been under discussion for the past five years, will be managed by Cresta Marakanelo.

“This is our contribution in developing Botswana and the tourism sector to make it compete with diamonds and help diversify the economy. We hope to do more projects of this nature in future,” she said.

Ms January also indicated DPF’s decision to invest in the hotel was after they realized superior returns from their other property portfolio such a Gaborone private hospital and Engen filling station in Palapye.

“So we wanted to diversify even further so that our members can have leaf of economic stimulus and not run short of facilities. As former bread and baskets of our economy, it is important that we take care of them in their old age as well as take care of their younger generations,” she said.

Cresta Marakanelo managing director, Mr Mokwena Morulane indicated that his organisation, which currently operates from a property owned by DPF in Jwaneng, was a good tenant that never defaulted on its contractual obligations.

“We intend to continue living our reputation. This project is a proud development in our history and well overdue, and we truly hope DPF will help our vision of growing our brand regionally,” he said.

Mr Morulane said the investment was a recognition of the tourism and hospitality sector in the country, which he said had a significant contribution in employment creation.

“By investing in this hotel project, we wanted a projects that could beat inflation, be sustainable and give shareholders returns. It is also a way of sustaining Jwaneng beyond diamonds. We would also like to appreciate Jwaneng leadership and Debswana for their support, and we are willing to explore more investment opportunities in a joint arrangement,” he said. BOPA