Cirrus acquires stake in Ultimate Safaris
Cirrus Unlisted Investments (Cirrus) this week announced the acquisition of a minority stake in Ultimate Safaris, a leading luxury lodge and tour operator.
The investment was facilitated through a Special Purpose Vehicle (SPV) registered with the Namibia Financial Institutions Supervisory Authority. The vehicle attracted both private and institutional Namibian investors, providing the capital necessary to accelerate Ultimate Safaris’ expansion plans as it seeks to capitalise on the nation’s burgeoning tourism market.
Commenting on the acquisition, Erik de Waal, Managing Director of Cirrus Unlisted Investments, said Ultimate Safaris is well-positioned to drive growth within the sector.
“Namibia has vast potential to become a world-leading, high-end tourism destination, and we see significant opportunities for expansion in this space. Ultimate is poised to play a major role in driving this growth, creating quality jobs and opportunities across the country. We are excited to partner with them as a capital provider and investor,” de Waal said.
Tristan Cowley, Managing Director of Ultimate Safaris, welcomed the partnership, noting that the ethos of both companies is strongly aligned.
“We value our new partnership with Cirrus, whose approach reflects the way we conduct our business. We are also encouraged by the confidence demonstrated by Namibian investors, which ensures that Ultimate remains a local business and a Namibian story. Collectively, we are focused on creating enduring value and contributing positively to the future of the country, ultimately leaving Namibia a better place than we found it,” Cowley said.
