PUNCH
The founder of Landmark Africa Group, Paul Onwuanibe, has spoken about the devastating impact of the sudden demolition of Landmark Leisure Beach, which wiped out over $30 million in investments and left thousands of lives disrupted.
Speaking on The KK Show via YouTube on Sunday, Onwuanibe described the emotional and financial toll of the event, which took place with just seven days’ notice.
“Let’s put this into perspective; Landmark consists of three parts—our business, our leisure, and our lifestyle. What was demolished was our leisure business, a significant part of both our revenue and our physical infrastructure. The initial reaction was shock, and then anger. You go through the five stages of grief—shock, anger, bargaining, concern, and finally acceptance,” he said.
Onwuanibe revealed that the beach site had been acquired in 2006 for $17 million and further developed with a $30 million loan secured abroad.
Connect with us on our socials: