The Cameroon Hotels Corporation (CHC) has selected a consortium comprising Attijari Securities Central Africa (ASCA), AFG Capital, and Financia Capital to structure the fundraising for the modernization of the Hilton Yaounde and its shopping center. This decision follows a restricted call for tenders.
While the exact amount of the transaction has not been officially disclosed by the CHC, the financial terms suggest a fundraising of approximately CFAF 25 billion. The consortium's remuneration is set at 1% inclusive of all taxes of the funds raised, amounting to CFAF 250 million. Sources close to the Ministry of Finance estimate the total cost of the renovation project at around CFAF 30 billion.
According to the CHC's statement, the ASCA–AFG Capital–Financia Capital consortium's offer received the best technical and financial scores, outperforming the EDC Investment Corporation–Forvis Mazars Cameroun and Horus Investment Capital–CCA Bourse–EB Partners groups.
The mandate entrusted to the consortium runs for six months. The main objective of this fundraising is to support the modernization program of the Hilton Yaounde, an emblematic establishment of the Cameroonian hotel industry. The CHC aims to restore the hotel to its international standards, particularly in the face of increased competition in the business tourism sector.
The renovation of the Hilton includes the modernization of rooms and technical facilities, the redesign of common areas, and the improvement of outdoor facilities. The CHC anticipates that these improvements will increase its occupancy rate, build customer loyalty, and optimize its profitability. The Hilton Yaounde, built by the Israeli company Reynolds Construction and inaugurated in the late 1980s, symbolized Cameroon's opening to the world. Despite its age, it remains a popular meeting place for those in power. In parallel, the hotel's casino was acquired by businessman Jules-François Famawa, who also plans renovations.
