A strategic equity investor is being sought to help fund the completion, launch and long-term operation of a five-star island resort off northern Mozambique.
According to an expression of interest notice issued by South Africa’s Industrial Development Corporation (IDC), the 60-key resort spans Caldeira and Nejovo islands, also known as the Topuito Isles, off Moma District in Nampula Province.
The project is owned by Lux-Isle, a Mozambican company established in 2001 to develop the resort. An IDC investment document states that the corporation approved a US$12.8 million (R213,4 million) loan for the development and is now seeking an equity investor in Lux-Isle to help address the project’s funding requirements.
The IDC is looking for a partner with the financial capacity and operational experience to support the resort’s completion and commercial launch as well as its long-term operation.
The islands offer year-round warm waters, offshore activities and cultural experiences with proximity to Nampula providing access to an international airport and supporting infrastructure, according to the IDC.
Expressions of interest close on August 14.
