Summary of Proposed Investment
Project Number
23959
Company Name
Societe Burkinabe De Promotion Hoteliere Sa
Date SPI Disclosed
Jan 24, 2005
Country
Burkina Faso
Industry
Tourism, Retail and Property
Projected Board Date
Feb 24, 2005
Status
Completed
Sector
City and Business Hotel
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : May 25, 2005
Signed : May 24, 2005
Invested : Nov 25, 2005
Project Description
The project consists of renovating and expanding Hotel Independance (HI) into a three-star international business hotel with 180 rooms, located in Ouagadougou, Burkina Faso (BF). In an effort to revamp the hotel, the Government of Burkina Faso (GoB) has leased the property for fifteen years through an open bidding process to Société Malienne de Promotion Hôtelière (SMPH), an existing IFC client. SMPH created “Société Burkinabè de Promotion Hôtelière" (SBPH) for the purpose of acquiring and operating HI.
SMPH sees strong potential in HI because of its size and strategic location, close to the heart of Ouagadougou’s business and administrative district. By modernizing, HI would help raise the standard of the hospitality industry in BF. SMPH seeks IFC’s involvement in the project to obtain long-term financing and support for its first investment and expansion outside of Mali.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Mossadeck Bally, Chairman, SMPH
B.P. 104 Bamako, Mali
Phone: + 223 222 24 92/675 03 82
Fax: + 223 223 89 5