PROJECT

Projects

Summary of Investment Information

Project Number

43696

Company Name

AFRICAN HOTEL DEVELOPMENT LUXEMBOURG

Date SPI Disclosed

Apr 7, 2021

Country

Africa Region

Region

Africa

Projected Board Date

May 21, 2021

Environmental Category

B - Limited

Status

Active

Last Updated Date

Apr 1, 2022

Department

Regional Industry - MAS Africa

Industry

Tourism, Retail and Property

Previous Events

Approved : May 27, 2021
Signed : Jun 30, 2021
Invested : Mar 30, 2022

Sector

City and Business Hotel

Additional Project Attributes

Blended Finance

Project Description

African Hotel Development Luxembourg SAS (“Onomo” or the “Company”) is a pan African mid-scale business hotel owner and/or operator of 21 hotels in Africa, under the brand Onomo. To fill the gap in the provision of region wide midscale branded hotels that meet international standards, the Company aims to upgrade and expand in capacity and geographically through (i) the extension and renovation of its existing hotel in Abidjan, Côte d’Ivoire, (ii) the financing of the recently completed refurbishment of its existing hotel located in Dakar, Senegal, (iii) the refurbishment of its existing hotel in Bamako, Mali, and (iv) the development of 2 greenfield hotels in Yaoundé, Cameroon and Djibouti City, Djibouti; and (iv) the refinancing of existing debt (the “Project”).

Associated Advisory Engagement

 IFC proposed advisory support through IFC’s Excellence in Design for Greater Efficiencies (“EDGE”) tool.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation