African Sun to Use $10 Million Loan to Refurbish its Hotels

African Sun Ltd. (ZSI) will use a $10 million loan from the African Export-Import Bank to refurbish its hotels, the company said.

The Harare, Zimbabwe-based company will introduce the Intercontinental Hotels Group (IHG) brand in Zimbabwe and refurbish its Holiday Inn (0080216D) hotels in the country, it said.

It will also abandon the Holiday Inn brand for two of its Zimbabwean hotels and will complete work on its hotels in the first half of this year, the company said.

The company also owns hotels in Nigeria and Ghana.

To contact the reporter on this story: Brian Latham in Harare at blatham@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.