American Investor Acquires lucrative Okavango Concession
Jeffrey Lynn Rann, a US-based investor, has proposed to acquire hospitality outfit Afro Ventures Botswana (AVB) and its businesses mostly in the lucrative tourism prime land of the Okavango, the Competition Authority has announced.
Pursuant to Section 56(1) of the Competition Act (Cap 46:09), the Competition Authority has received a merger notification in relation to the proposed transfer of: And Beyond Xudum Okavango Lodge, including the business; certain movable and immovable assets (Xudum Lodge Business); and all of Afro Ventures Botswana (Pty) Ltd’s rights in Concession NG 29 (Lease Agreement) by Afro Ventures Botswana (Pty) Ltd (AVB) to Xudum Okavango River (Pty) Ltd (XOR).
XOR, the acquiring enterprise, is an entity registered under the Laws of the Republic of Botswana.
XOR is controlled by its shareholders, namely Rann Share Trust (held through its nominee shareholder, Christopher John Bray) and the Mbaiwa Family Trust (held through its nominee shareholder, Joseph Elizeri Mbaiwa).
The target is currently not trading and does not control any enterprises. The current sole director of the acquiring enterprise is Jeffrey Lynn Rann, an American citizen. Xudum Lodge Business and the Lease Agreement (hereinafter referred to as the target) are wholly owned by AVB.
AVB is an entity registered in accordance with the Laws of the Republic of Botswana. The target is managed and accounted for as a separate and distinct division within the existing business operations of AVB.
The target provides accommodation services and ancillary services which include game drives, guided tours and other adventure activities in the Ngamiland District.
AVB is involved in the business of luxury safari lodge and camping in the Okavango Delta.
In turn, AVB is controlled by And Beyond Holdings (Pty) Ltd, an entity registered in accordance with the Laws of the Republic of South Africa.
The directors of AVB are Jeffery Lynn Rann (American), Jason Maxwell King (South African), Hano Coetzee (South African), and HugoJoss Alexander Kent (British).