Landmark Africa, the firm behind Landmark Beach Resort in Lagos, plans to relocate its Nigerian headquarters and expand their operations to other African countries.
The East African Region, but especially Tanzania is said to be topping the firm’s next move considerations.
It is believed that Landmark Africa already runs a number of properties in Tanzania.
The company’s Chief Executive Officer, Paul Onwuanibe, announced its intent to enter two more African countries and establish new footprints in three other Nigerian states.
The group will be translocating its headquarters out of Victoria Annex Lagos.
Essentially all the tourism operations undertaken by Landmark Africa in Nigeria will be taken out of the country entirely.
These will be established in other areas on the continent, with the management eyeing mostly the East African region.
There are reports that among the places that Landmark Africa is mulling to establish new presence, especially investments in tourism is Tanzania, a country which was voted as both the world and Africa’s leading travel destination.
The working environment in Nigeria seems to have been slightly unfavourable for Landmark Africa which now intends to massively invest elsewhere on the continent.
This follows the April 2024 demolition of Landmark Beach Resort, which he called a devastating setback that led to an estimated USD 80 million loss.
The Landmark CEO noted that the demolition emphasized the need for geographical diversification to reduce the risks associated with concentrating investments in a single state or country.
Paul Onwuanibe revealed plans to move Landmark Africa’s entire events and tourism platform outside Nigeria to other countries on the continent where greener pastures could be beckoning.
“We’re going to have some diversification. We’re going to diversify to two other African countries in addition to moving operations into three different states of Nigeria,” said the Landmark Africa’s CEO
The company intends to relocate its Nigeria Headquarters out of Lagos to another Nigerian state while at the same time take out an entire events and tourism platform out of the country to other parts of Africa.