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Libya Hotel Investments Loom-large in Sub-Saharan Africa.

Lake Victoria Hotel's General Manager Mohammed Marghani is seen here addressing a reception in the vicinity of the hotel.

By Matovu Muhammad Idris The Tripoli Post Correspondent, Kampala, Uganda Kampala, Uganda-- Libyan African Investment Company (LAICO), a state-owned firm, controls 52 hotels in the African continent and has plans to expand even further both in Libya and Africa, says the top manager of The Libyan five-star Lake Victoria Hotel Mr. Mohammed Marghani.

After the period of political upheaval which ousted the dictatorial regime of Muammar Gaddafi, LAICO is considering more expansion within Libya and the rest of Africa.

Mr. Marghani confirmed that Africa and most especially Uganda is a destination that requires more utilization in areas of ecotourism and hotel industry and that his mother company is doing just that.

'The Business is quite good and this country stands a chance to be the first destination of tourism; there is still much to explore and Uganda needs to continue marketing itself much more,' he said.

'It is advisable for the government of Uganda to make Uganda a visa-free to some countries like Libya, this will attract and ease the movement of foreign investors,' he added.

Speaking to The Tripoli Post correspondent, Mr.Marghani said that, Libya is now in the new era aiming to strengthen its, social, political and economic ties with the rest of Africa.

'Libya is seeking a new beginning, and a very balanced serious relationship with other African countries. We are not out of context, this is our mother continent. All those concerned have got to understand that there is a change in business trajectory everywhere in the world, and all eyes are on Africa as being a virgin continent,' Mr. Marghani stressed.

'As far as Lake Victoria Hotel is concerned business is actually getting a good net-return,' he added.

Answering a question about competition within the hotel business in Uganda, Marghani said 'we expect to expand our business in Uganda without any fear. We very much know that there is competition in this business, but again competition encourages innovation and it's the cornerstone of democracy. I believe that, the cardinal principle of success lies in business expansion.' Lake Victoria hotel is just a stone throwaway, only five minutes from Entebbe International Airport, adjacent to the State House and very close to Entebbe Wild life Education Center (Zoo) and the Africa's Pearl the Lake Victoria.

Lake Victoria is the oldest hotel in Uganda built in 1949, and it was owned by the Uganda government before being privatized; sold to the Libyan African Investment Portfolio in 1996, which again came to be known now as Libyan African Investment Company (Laico).

Lake Victoria Hotel is a very common place for tourists, as though, it provides local and international dishes. It can accommodate hundreds of visitors in its 144 rooms.

This hotel project is a win win situation for both Uganda and Libya, says Mr. Marghani.

'We provide employment to over 180 Ugandans without considering those who work here casually, but, we as Libyan nationals we are only three in number,' he informed.

Libyan African Investment Company, a state-owned firm, controls 52 hotels and resorts in Uganda, Rwanda, Tanzania and Sudan.

Other countries where LAICO owns hotels and resorts are Kenya, South Africa, Chad, Zambia, Tunisia, Central Africa Republic and other major cities covering Sub-Saharan Africa.

2013 - The Tripoli Post

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Publication:The Tripoli Post (Tripoli, Libya)
Geographic Code:6CENT
Date:May 3, 2013
Words:568
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