Staff Writer
Cirrus Unlisted Investments and Ultimate Safaris have completed an equity funding transaction that will see Cirrus acquire a significant minority stake in Ultimate on behalf of individual and institutional Namibian investors.
Ultimate is a Namibian luxury lodge and tour operating company. Cirrus said the business has strong potential for further growth and represents a high-impact Namibian company.
Ultimate Safaris started small and has built a reputation for its sustainability efforts. The company focuses on luxury ecotourism and operates across Namibia’s natural landscapes and remote areas. It works to limit environmental impact while supporting conservation and local communities.
“Namibia has vast potential to become a world-leading high-end tourism destination, and we see the potential for extensive growth in this space. Ultimate is well positioned to play a significant role in driving this growth, creating quality jobs and opportunities across Namibia. We are excited to partner with Ultimate on this journey as a capital provider and investor,” said Cirrus Unlisted Investments managing director Erik de Waal.
Ultimate managing director Tristan Cowley welcomed the partnership.
“We value our new partnership with Cirrus, whose approach and ethos align strongly with the way we conduct our business. We are also encouraged by the confidence demonstrated by individual and institutional Namibian investors, which ensures that Ultimate remains a Namibian business and story. Collectively, we are focused on creating enduring value and contributing positively to the future of Namibia, ultimately leaving Namibia a better place than we found it,” he said.
The investment was made through a Namfisa-registered Special Purpose Vehicle that attracted both private and institutional investors. The funding will support Ultimate Safaris’ expansion plans as Namibia’s tourism market grows.
Cirrus Unlisted Investments is part of the 100% Namibian-owned Cirrus Group. It is a Namfisa-regulated Unlisted Investment Manager. The company manages investments for individual and institutional investors and invests in Namibian companies and projects aimed at supporting growth and job creation in the local economy.
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Tristan Cowley and Erik de Waal
