BUSINESS AND OTHER SERVICES

The proposed 15 million quasi-equity would be to support construction of 2 hotels (the Noom Kinshasa, in the Democratic Republic of Congo, a three story with 158 rooms and the Seen Freetown, in Sierra Leone, an eight story with 144 rooms). This project constitutes the expansion of an existing client, the Teyliom International Group in the business hotel sector in Sub-Sahara Africa. A former project was the building of the Radisson Blu Dakar hotel (IFC project #26071 disclosed on 14 December 2007), for which the wastewater treatment plant is still pending but overall environmental and social performance is considered satisfactory. Lack of space was the main reason invoked for not building the plant. This will be a condition of disbursement for this project. The Noom Kinshasa will be branded a 5-star hotel and the Seen Freetown a 4-star hotel, both located on modified habitat (2.5 ha land for Kinshasa and 3.0 ha for Freetown). The land in Kinshasa is privately owned by Teyliom`s local partner. A 30-year lease was granted to Teyliom for the land in Freetown. The Mangalis Group is the hotel operating and management arm of Teyliom. Construction works has started only in Freetown (less than 5% completed) and has stopped due to the Ebola outbreak. The``Compagnie Sahlienne d`Entreprise`` is the EPC Contractor. Predicted start of operations is planned during the first semester of 2018 for Kinshasa, and first semester of 2017 for Freetown.

Congo