Finance minister Mthuli Ncube has revealed that the Monomotapa Crowne Plaza Hotel — acquired in August through the public service pension fund — will now be used to accommodate Members of Parliament during sittings and major national events.
The iconic 182-room hotel in central Harare, a flagship property formerly run by African Sun, was reportedly sold for US$18 million.
Addressing lawmakers at a pre-budget seminar in Bulawayo on Wednesday, Ncube said the purchase was part of government’s push to reduce the high accommodation costs incurred when Parliament books MPs into private hotels.
“Did we ever tell MPs that we bought them a hotel? If you allow me, I’m going to announce today that we have bought you a hotel. It’s Monomotapa Hotel,” he said.
“This is for use by MPs… ensuring comfort and convenience while cutting costs.”
However, Ncube did not clarify how the asset will generate returns for the public service pension fund — a key concern given that pension funds are required to invest in income-generating assets to protect workers’ savings.
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He hinted that the hotel will continue to operate commercially when MPs are not using it.
“We will now come up with a scheme of how it can be utilised for the benefit of MPs. When you’re not using it, it can earn revenue for its upkeep,” he said.
The Monomotapa — one of Harare’s most recognisable landmarks with architecture inspired by the ancient Kingdom of Monomotapa — sits beside Harare Gardens and has long been a premium accommodation and conference venue.
The government has not disclosed details of the acquisition structure, future management arrangements, or projected returns to the pension fund.
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