(Ecofin Agency) - Botswana-based multinational ecotourism company Wilderness Safaris has successfully raised Sh3.5 billion ($35 million) bilateral loan to buy an ecotourism firm in Kenya, news website Businessdailyafrica reported on October 19, 2016.

“In addition to reinvestment into flagship properties in Botswana and Namibia, the proceeds of this loan will be used for expansion across African markets such as Kenya and Rwanda,” said Wilderness Safaris chief executive Keith Vincent. The facility falls in line with the company’s expansion strategy across “African tourism markets which offer authentic wildlife and safari experience”, Keith added.

As it will be deployed over several years in multiple currencies, the loan protects Wilderness Safaris’ investments from currency volatility. It is one of the largest corporate deals in Botswana this year.

Commenting on the loan facility which his bank arranged, Leina Gabaraane, managing director at Stanbic Bank Botswana said: “Our footprint across 20 countries on the continent provided Wilderness Safaris with an on-the-ground banking partner with regional and local expertise in the countries in which they operate, as well as countries targeted for the future expansion”

Founded in Botswana in 1983, Wilderness Safaris is one of Africa’s leading ecotourism companies. Listed in Botswana and Johannesburg, it operates about 50 luxury camps and Safaris across eight African countries namely, Botswana, Kenya, Namibia, Rwanda, Seychelles, South Africa, Zambia and Zimbabwe.

Schadrac Akinocho