IFC invests $5.5m in hotel project in Ghana

The International Finance Corporation (IFC) a member of the World Bank Group says it is providing a loan of $5.45 million to Alliance Estates Limited, to build the first Protea Hotel in Takoradi, Ghana. Takoradi is in the Western region of Ghana where oil is being produced.

According to the IFC, the 132-room three star hotel “will help meet demand for business infrastructure as more investors are venturing into the oil producing region of Takoradi.”

The hotel will also catalyze local employment by hiring and training 130 new staff, of whom about half are expected to be women, it says, adding that Alliance Estates Limited is owned by the Mohinani Group and Capital Alliance Property Investment Company (CAPIC).

By Emmanuel K. Dogbevi