3B Hotels (IFC-42084)

Countries
  • Rwanda
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 27, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
3B GROUP OF HOTELS
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 7.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 13.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 8, 2019

Disclosed by Bank Apr 25, 2019


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Project Description

The proposed investment would support 3B Group of Hotels (“3B” or “the Company”), one of Rwanda’s leading ecotourism groups, to expand its network of mid-tier lodging in Rwanda with investment in: (i) the completion of a 30-room Akagera Safari Camp in the Lakes District in the Eastern Province of Rwanda, (ii) the acquisition, refurbishment and putting into operation of the Nobilis Hotel, a 61-room hotel in Kigali and (iii) the introduction of a modern management information system (the “Project”).

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • 3B Group -- Implementing Company

The 3B Group consists of five separate companies, each 50-50% owned by Mr. Paul Muvunyi and his wife Mrs. Yvonne Impundu, a family of Rwandan entrepreneurs.

Contact Information

3B Hotels 
Paul Muvunyi 
Chairman 
+250 788 302391 
info@3bhotels.com 
P.O. Box 246 Musanze, Rwanda 
www.3bhotels.com 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/