Wednesday, 30 April 2014

News Release: €24-million Afreximbank Loan For Libreville Hotel Complex

Jean-Pierre Lemboumba Lepandou, President of GTH (left), exchanges documents with Mamadou Kane, Managing Director of Orabank, Gabon (right), after the signing ceremony as Afreximbank President Jean-Louis Ekra looks on.

The African Export-Import Bank (Afreximbank) has granted the Gabonese hotel group, Gabonaise de Tourisme et de l’Hotellerie (GTH), a 24-million Euro loan facility for the development of the Decapolis Rapontchombo which would be managed under the Decameron brand.

According to the Bank, the loan facility is being granted to GTH under Afreximbank’s Construction and Tourism-Linked Relay Facility (Contour) to finance the full refurbishment of the former Novotel Rapontchombo, Libreville, and the construction of  two buildings to turn the property into a five-star hotel with 180 rooms and 30 apartments.

Speaking at the Afreximbank Headquarters in Cairo during the signing ceremony for the facility, Jean-Louis Ekra, President of the Bank, said that the transaction reflected the institution’s commitment to supporting Africa’s economic development. According to him, a high quality hotel facility plays an important role in attracting investment by providing a conducive environment for the conduct of business transactions.

Jean-Pierre Lemboumba Lepandou, President of GTH, said that the objective of the promoters was to make the Decapolis Rapontchombo  a reference infrastructure not only in Gabon but also in the West and Central Africa regions.

Commending Afreximbank for supporting the project, he said that the Bank’s example had spurred the Gabonese Sovereign Wealth Fund  to consider making similar investments in Libreville.

Also speaking, Mamadou Kane, Managing Director of Orabank, Gabon, which is serving as the local administrative agent for the transaction, said that the signing of the facility agreement proved that it was possible to find long-term resources within Africa for the execution of important projects. The project would make significant contributions in terms of job creation in Gabon, he added.

The Decameron Group has already signed a 12-year lease agreement for the management of the new hotel.

Manal Mounir Hendy
Associate

External Communications

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