Revealed: Minister lied on $28m Serena Hotel deal

On Streets Today:

Serena Hotel in Dar es Salaam

Serena Hotel in Dar es Salaam,  formerly known as Movenpick, was sold to a new investor in a   multimillion-dollar deal, The Guardian on Saturday can authoritatively reveal.

The revelation, which has also been confirmed by Serena Hotel’s top management, proves that former Deputy Minister for Finance Pereira Silima lied in the National Assembly in February, this year.

Though Serena’s top management declined to divulge the exact amount paid as the price for the hotel, citing a clause in the contract which bars the buyer from disclosing the total amount paid during the acquisition, The Guardian has established that $28 million was the value of the transaction.

According to details gathered by this paper, what transpired in the change of the hotel’s name from the previous Movenpick to the current Serena was total acquisition of the property - meaning the hotel was sold to its current owner.