The Gabonese hotel group, Gabonaise de Tourisme et de l’Hotellerie (GTH) has received a 24-million Euro loan facility from the African Export-Import Bank (Afreximbank) for the development of the Decapolis Rapontchombo which would be managed under the Decameron brand.
Afreximbank documents show that the loan facility, granted to GTH under the bank’s Construction and Tourism-Linked Relay Facility (Contour), is to enable it finance the full refurbishment of the former Novotel Rapontchombo in Libreville and to construct two buildings to turn the property into a five-star hotel with 180 rooms and 30 apartments.
In an address at the signing ceremony at the Afreximbank Headquarters, 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, explained that the objective of the promoters was to turn the Decapolis Rapontchombo into a reference infrastructure in Gabon and in the West and Central Africa regions. He commend Afreximbank for supporting the project and said that the Bank’s example had spurred the Gabonese Sovereign Wealth Fund to consider making similar investments in Libreville.
In his own speech, Mamadou Kane, Managing Director of Orabank, Gabon, 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. According to him, the project would make significant contributions in terms of job creation in Gabon.
The Decameron Group has already signed a 12-year lease agreement for the management of the new hotel.
Jean-Pierre Lemboumba Lepandou, President of GTH (2nd left) with Afreximbank President Jean-Louis Ekra (3rd right) and Executive Vice Presidents Benedict Oramah (1st left) and Denys Denya (1st right).
DR. George Elombi, Afreximbank’s Director of Legal Services, makes introductory remarks before the signing ceremony.