Cleo Capital Group Ltd, has officially signed an agreement at the recent Africa CEO Forum to acquire a majority stake in the Akagera Game Lodge and continue the collaboration with RSSB. This outstanding property will be managed by The Lux Collective, a global hotel operator, to transform it into a 5-star SALT brand.

This signing event also provided an opportunity to announce the Rwanda Tourism Circuit. It will involve rebranding the existing CLEO Lake Kivu to LUX* Lake Kivu, alongside the development of three new ultra-luxury properties in Volcanoes, Nyungwe, and Akagera National Parks. All these properties will be managed by The Lux Collective.

As the Lead Arranger, Transaction, and Financial Advisor for this project, ITIC is proud to announce this milestone, having led the deal arrangement and worked closely with RSSB, The Lux Collective, our client, Cleo Capital Group Ltd, and the RDB. Our work on the full corporate finance services demonstrates our commitment to fostering partnerships and attracting foreign direct investment in Rwanda’s tourism sector, in line with the Rwanda government’s Vision 2050, spearheaded by the Rwanda Development Board.

Congratulations to the dedicated teams from RSSB, TLC, CCGL, RDB, Atelier Nomadic and DTOS for their hard work and collaboration on this project.

This illustrates the comprehensive support ITIC offers in the markets we serve, partnering with clients across all aspects of corporate finance. We assist in developing their business and financial models and oversee the entire project lifecycle, all the way to successfully raising capital through a mix of debt and equity.