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Key Points
- Sven Thieme’s O&L Leisure acquires Le Mirage and Divava lodges to deepen its luxury tourism portfolio in Namibia.
- The expansion strengthens O&L’s six-property circuit, showcasing iconic desert, river, coastal, and wildlife-rich destinations.
- O&L targets N$2.5 billion ($140 million) EBIT by 2029, aligning hospitality growth with its Vision 2029 strategy.
Namibia’s largest privately held company, the Ohlthaver & List (O&L) Group, led by prominent businessman Sven Thieme, is expanding its hospitality footprint with the acquisition of two standout properties in some of the country’s most iconic destinations.
In a recent statement, the group confirmed the acquisitions were made through its hospitality arm, O&L Leisure, which has taken ownership of Le Mirage in the Sossusvlei area and Divava on the banks of the Kavango River. The deal is currently subject to approval by the Namibian Competition Commission.
Namibia expansion bolsters luxury tourism circuit
Speaking about the expansion, Thieme, who also serves as Managing Director of O&L Leisure, said: “This is an important step in bringing our ‘Namibia Through Our Eyes’ vision to life. These desert and river settings aren’t just beautiful, they carry deep stories and a sense of wonder that reflect everything we want our guests to experience.” He added, “We don’t take our guests to just any place with a tree. We take them to places with a soul, places that hold history, beauty, and meaning.”
With this move, O&L Leisure now offers travelers access to a curated journey across six unique Namibian destinations. From remote mountain retreats and the windswept Atlantic coast to awe-inspiring desert landscapes and wildlife-rich terrains, each location is chosen to showcase Namibia’s natural treasures. This includes Sossusvlei, home to some of the tallest sand dunes in the world, and the ancient Namib Desert—where rolling dunes meet the Atlantic Ocean in one of the planet’s rarest environments.
This expansion aligns with the group’s broader Vision 2029 strategy, which aims to position Namibia as a world-class travel destination. By building a connected portfolio of properties, O&L Leisure is creating a seamless luxury circuit that highlights the country’s diverse landscapes, rich wildlife, and cultural heritage.
O&L targets $140 million EBIT by 2029
Under Sven Thieme, the O&L Group has grown into a national economic force, contributing 3.9 percent to Namibia’s GDP. The group’s foundation traces back to its early days as a trading partnership between Hermann Ohlthaver and Carl List. Today, it stands as a pillar of Namibian enterprise.
Looking ahead, O&L has set clear financial targets. By June 2029, the group expects all its companies to be profitable and delivering industry-standard returns. It’s also aiming for earnings before interest and taxes (EBIT) of N$2.5 billion (about $140.6 million), as it continues to strengthen its position both financially and strategically.
