|Approval Date||18 Sep 2002|
|Signature Date||20 Nov 2002|
|Sovereign / Non-Sovereign||Non Sovereign|
|Sector||Industry, Minning & Quarrying|
|DAC Sector Code||33210|
The project involves the renovation and refurbishment of the recently privatised Sheraton Kampala Hotel. The privatisation was effected on 7 March 2001, through a Share Sale and Purchase Agreement of that date, between the GOU and MIDROC Group of Companies. SKH is the flagship of the Ugandan hospitality industry. The project has a strong developmental impact and it is in one of the priority sectors earmarked for development by the GOU. The project will: (a) save 340 jobs; (b) it will create additional 250 new jobs, 300 secondary employment for contractors, sub-contractors, suppliers, and numerous informal sub-sector employment opportunities for craftsmen and women, artists, and taxi drivers etc. A large number of the employees will be women, whose economic well-being will thus be enhanced by the project; (c) renovation of SKH will increase the foreign exchange earning capacity of the hospitality industry in Uganda and SKH will contribute an estimated US$ 54 million to government revenue through sales and value-added tax (VAT) in the first 10 years. It also contributes to the development of the hotel industry.
The purpose of the renovation and refurbishment is to upgrade the facilities, services and amenities at the 251-room hotel to 5-star international standard.
The main beneficiary of the project is the Ugandan government.
African Development Bank
|Last Update||31 Oct 2019|