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Rainbow Tourism Group has exited the Mozambican market, citing a worsening political situation and cuts in spending by the country’s government.
RTG recently pulled out of two units in Zambia, and previously pulled out of the Democratic Republic of Congo about seven years ago.
Pride Khumbula, RTG Corporate Communications and Innovations Manager, said the group had agreed an exit of the Rainbow Hotel Mocambique in Beira, for which it had a management contract.
“The exit was agreed with the lessor and most of the workers will continue in the employ of the hotel, which will continue to operate,” she said.
RTG Chief Executive, Tendai Madziwanyika, told The Source on Wednesday, that the developments had forced the group to exit the country as part of a strategy to wean off loss-making operations.
The group had posted a loss of $1.6 million in the previous financial year, he added.
Sоurсe: tourismupdate.co.za
