#Senegal #IvoryCoast: hit by the tourism crisis, French travel operator Club Med has abandoned a handful of its 'holiday villages' on the continent. Africa Intelligence investigated the attempts to revive these abandoned sites 1/6
In Senegal, the group headed by Henri Giscard d'Estaing, son of the former French president, sold its tourist complex at Pointe des Almadies in 2008 to the Vacap World group, owned by Amadou Loum Diagne 2/6
In 2017, the entrepreneur then joined forces with Marriott to build several hotels: two 2-star Sheratons and three 3-star Alofts. The real estate group also began looking for financing 3/6
It is particulary reliant on the financial support of the US government's private sector financing fund, the US International Development Finance Corporation (DFC), which provided a loan of $64m in 2019 4/6
Today, the project has still not started and the buildings that used to house Club Med holidaymakers are now nothing but ruins. Vacap is confident that work will start by the end of the year, which is a very ambitious agenda 5/6
Will this project see the light of day? And which other former Club Med complex in #IvoryCoast seems to be suffering the same fate? See our article: africaintelligence.com/west-africa/20…
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