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21.07.2005 Gossips

ECOWAS bank invited to invest in “Hotel Kufuor”

Daily Dispatch
ECOWAS bank invited to invest in “Hotel Kufuor”

A credible source close to the ECOWAS Regional Investment Bank (ERIB) in the Togolese Capital, Lome has confirmed that it has received a letter inviting it to participate in a “syndicated term loan” for the hotel project of the Airport West Hospitality Limited.

The hotel in question is what is now known as “ Hotel Kufuor”.

The hotel's lead financial manager, Prudential Bank Limited, sent the letter.

The source said, “no money has been advanced yet, the bank is still evaluating the offer and a decision will be made soon.

He said from the documentation provided to support the letter inviting the bank, the Airport West Hospitality hotel proposed to develop the property into a three star international hotel.

Upon completion, the hotel is expected to have facilities like ninety-nine (99) luxurious rooms, indoor and outdoor restaurant, two bars, two conference centers and multi purpose business facilities.

The letter invited ERIB “ to participate in the syndication in the amount of ($1.0m) in the form of a term loan. You are also at liberty to invest part of your commitment in the equity of the company.”