Tourism Promotion Services Rwanda Limited

completed

_x000C_On January 9, 2007, Tourism Promotion Services (Rwanda) Limited (TPS(R) or the company) signed a renewable, 30-year lease agreement with the Government of Rwanda (GoR) to manage and operate the Kigali Serena Hotel (Kigali Serena) in Kigali (formerly the Inter-Continental Hotel) and the Lake Kivu Serena Hotel (Kivu Serena) in Gisenyi (formerly the Kivu Sun Hotel). TPS(R) is a newly created subsidiary of the Aga Khan Fund for Economic Development (AKFED), an international development agency based in Switzerland dedicated to promoting entrepreneurship and building economically sound enterprises in the developing world. The project involves the acquisition and rehabilitation of both hotels as well as the expansion of the Kigali Serena. As part of the project TPS(R) may also acquire or develop a new lodge in Ruhengeri which will be used as a base for gorilla trekking.