info@psptf.mw | P.O. Box 30146, City centre, Lilongwe
The Public Service Pension Trust Fund (PSPTF) held a ground-breaking ceremony for the construction of a 107-room hotel in Blantyre. The Lifestyle at Cresta hotel, which has been pegged at K43 billion, will among other facilities have a 300-sitter conference centre.
Speaking during the event, Chairperson of PSPTF’s Board of Trustees, James Daire Kumwenda said the groundbreaking event marks the beginning of a journey that is not only significant for Fund members, but also for the broader economic development of our country. He added to say the tourism and hospitality industry has long been recognized as a key driver of economic growth, with the potential to create jobs, stimulate local businesses, and attract international visitors.
“By investing in this hotel, the PSPTF is not only securing a steady stream of income for our members but is also playing a vital role in supporting the Government in achieving the aspiration of the MW2063 Pillar 3 which is urbanisation,” said Kumwenda.
The construction which is expected to last 33 months is being spearheaded by Old Mutual Investment Group who through the Group’s Director, Alfred Majamanda, have confidently guaranteed their capacity and expertise to have the hotel ready within the specified time. Old Mutual Investment Group is one of PSPTF’s three investment managers who are authorised by the Board of Trustees to invest on behalf of the Fund and the construction of the Lifestyle at Cresta Hotel is one of various investments that the PSPTF has embarked on to secure a sustainable future for public servants.
