Chingaola Hotel

completed

The project company is a new company formed to establish and run the proposed project. The new 40 room project will be Chingola''s first graded hotel and will cater for business and other visitors to Chingola, the center of Zambia''s copper mining activity. Currently most visitors to Chingola are staying in guesthouses in Kitwe, more than 70 km away. In addition to accommodation, the hotel will provide conference facilities, shop and office space which will be rented out. The project will have the following developmental impacts: (1) form an essential part of the business infrastructure in the Copperbelt and provide important support for mining sector development in the Copperbelt; (2) create 100 new jobs which will improve the lives of over 1,000 people in and around Chingola.IFC appraised the project and advised the sponsor on critical issues relating to design, marketing, competition, financial structuring, management and environmental issues. IFC will also help complete the financing of the project in a country with very little long term financing.