×
App Icon
The Standard e-Paper
Informed Minds Prefer The Standard
★★★★ - on Play Store
Download Now

Hotelier signs Sh2b loan deal with Proparco

Claude Periou director general Proparco (left) and Mahmud Jan Mohamed managing director Serena Hotels when TPS Eastern Africa Limited and Serena Hotels and PROPARCO a subsidiary of the French development agency signed a USD 20 million loan agreement taken on 24th August 2015

NAIROBI: Tourism sector has received a major boost after TPS Eastern Africa signed a Sh2 billion loan agreement with French development institution Proparco to expand its services.

The company, which operates a chain of luxury hotels, lodges and tented camps across East Africa under the brand name Serena entered into an eight year tenure partnership with Proparco that will see a portfolio of facilities developed in the next two years starting in 2016.

Get Full Access for Ksh299/Week
Unlock the Full Story — Join Thousands of Informed Kenyans Today
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in