Rounding off a mission to Senegal, President Jean-Louis Ekra of the African Export-Import Bank (Afreximbank) has led a team from the Bank on visits to two facilities being financed in the country by Afreximbank.
The team first visited the Hotel Royal Decameron Boabab Resort, Somone, which is owned by the Societe Touristique de la Somone (SOTOUSO), where it took part in ceremonies inaugurating an expansion project being funded with a 25 million Euro pre-financing facility provided by Afreximbank.
It then visited Imprimerie XIPPI, the printing and packaging facility of Groupe Futurs Media (GFM), to which Afreximbank granted an 18.2 million term loan facility for the import of printing and packaging equipment.
Speaking at the inauguration ceremony for the extension of the Hotel Royal Decameron Boabab Resort, Mr. Ekra said that Afreximbank’s support for the expansion project was a continuation of the Bank’s effort to support vital sectors of African economies.
Noting that tourism had become an important part of Senegal’s economy, he said that the expansion would assist the country to achieve its full tourism potential and assist it to take full advantage of the variety of first rate natural and cultural assets it possessed.
Responding, A.D. Sarr, the Senegalese Minister of Tourism, expressed appreciation to Afreximbank for its support and said that the country had repositioned tourism as a strategic sector for national development.
The new airport being built in Thies would greatly facilitate the implementation of that strategy by making travel to Senegal and to the resort much easier, he said.
Earlier, El Sadji, the Mayor of Somone, had said that the resort had provided employment for about 240 people in the community and had been very engaged with the community, bringing about social and economic development.
Also speaking, Jean-Marie Gras, President of New Horizon Group, which is managing the resort, said that it was the largest hotel in Senegal. Its investment in the resort was the largest hotel investment in the country.
At the Imprimerie XIPPI, the team was shown around by company directors Birane Ndour and Youssou Ndour who were joined by Ibrahima Ciss, President of CISSCORP Holding, which served as consultant on the transaction.
The team saw the printing and packaging equipment that had been imported by GFM and observed some of the installation processes.
Accompanying the President on the visit were Kanayo Awani, Director of the Bank’s Trade Finance and Branches Department; Obi Emekekwue, Head of External Communications; Yacouba Coulibaly of the Legal Department; Maureen Mba, Head of the Compliance Unit; and several other staff members of the Bank.
GFM Director Youssou Ndour explaning a point to Afreximbank President Jean-Louis Ekra as team inspects Imprimerie XIPPI printing and packaging facility
Some of the Afreximbank team in group photograph with GFM Director Youssou Ndour during visit to the Imprimerie XIPPI printing and packaging facility