Lenders queue up to finance hotel chain Onomo

摘要

While awaiting the disbursement of loans from theInternational Finance Corporation (IFC), the privatesector arm of the World Bank, the hotel chain Onomostill enjoys the support of various financial institutionswith which it has been working over the long term,including Nedbank in South Africa. The funding from theIFC, with whom Onomo is working for the first time,consists of two loans for a maximum of €20.9m and$18.5m respectively. The package was approved in lateMay by the institution's board, but the contract has notyet been signed. Within the hotel industry, which is ahighly capital-intensive sector, Onomo targets businesscustomers. The group operates around twenty hotels onthe continent.