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Umubano privatisation on hold





Financial problems facing the Libyan government have affected the proposed privatisation of Hotel Umubano in Kigali.

The Rwandan and Libyan governments co-own Umubano through Sopratel, a company that manages the hotel.

The Libyans had pledged to inject in an undisclosed sums of money to improve the hotel but did not honour their commitment, according to the Rwanda Development Board.  As a result, the hotel is in a sorry state. 

“The Libyan government is neither honouring the deal nor willing to sell its stake in the hotel. They keep changing positions and, yet time is valuable. The privatisation process is now on hold, although negotiations are still ongoing,” Daniel Ufitikirezi, the head of asset and business management at RDB, said.


  (Source The New Times Rwanda : HERE) Second part of the article.





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