Inspiring Africa's Sustainable Business Growth
CAMEROON – The Radisson Blu hotel group has laid the foundation stone for the construction of a complex in Yaoundé, the Cameroonian capital. Funds for this project, valued at CFA37 billion (US$54.87m), will be raised from the U.S. International Development Finance Corporation (DFC). However, the local project carrier -BrightView Bethesda SA- offered Cameroonians the opportunity to become partners in…
Read More
SENEGAL – Kasada, an independent real estate private equity platform dedicated to hospitality in sub-Saharan Africa, has announced that it has acquired one of the most popular seaside resorts in Senegal: The Lamantin Beach Resort & Spa. This is Kasada’s 4th property in Senegal following the acquisition of the Pullman, Novotel and Ibis Dakar in January 2021. “The Senegalese economy…
Read More
KENYA – Holiday Inn, a member of the InterContinental Hotels Group (IHG), a hotel company, has officially opened its doors in Kenya. The hotel located in Two Rivers Mall in Nairobi is expected to become a top choice for family, business, and leisure travellers in Kenya. The hotel’s tranquil, elegant ambiance and the surrounding vibrant community offer a variety of…
Read More
RWANDA -Doğuş Group, a Turkish company, has announced plans to investing in Rwanda’s hospitality sector by setting up at least three luxury resort hotels. This was announced by Ferit Şahenk, the group chairman, following his meeting with Prime Minister Edouard Ngirente which was held in Kigali. According to him, they plan to construct high-end luxury hotels and restaurants in Kigali…
Read More
KENYA – HotelOnline, a Kenya-based revenue management company, has acquired HotelPlus, a provider of hotel software to 2,200 clients in East Africa, the companies said. The full terms of the deal were not disclosed, but the transaction mainly takes the form of shares, according to Håvar Bauck, one of HotelOnline’s two founders. Eric Muliro, who founded HotelPlus in Kenya in…
Read More
SOUTH AFRICA – The French entertainment giant Canal+, which has steadily been buying shares in MultiChoice Group since 2020, has significantly increased its stake in the South African-headquartered pay-television operator to 26.26%. From around 6% in 2020, Canal+ built its stake to 15% by September last year. It reached 18.4% in mid-June, and 20.1% in by July this year. “MultiChoice…
Read More
NIGERIA – Metaverse Magna (MVM), a crypto gaming platform, has secured a US$3.2 million seed funding round for the expansion of the WEMIX ecosystem in Africa. Investors such as South Korean video game developer Wemade, Japan-based blockchain-focused venture capital firm Gumi Cryptos Capital (GCC), HashKey, Tess Ventures, LD Capital, Taureon, AFF, Polygon Studios, Casper Johansen (Spartan), and IndiGG all participated…
Read More
EGYPT – Four Seasons Hotels and Resorts, a luxury hospitality company, in partnership with real estate development corporation Talaat Moustafa Group (TMG), have announced plans for an extensive portfolio expansion in Egypt with the addition of new hotels, residential offerings and significant property enhancements. Four Seasons Hotel and Private Residences New Cairo Capital at Madinaty and Four Seasons Hotel Luxor…
Read More
DRC – Aleph Hospitality, a Dubai-based independent hotel management company, has signed a management contract with Congo-based Sokerico Group to operate Kertel Suites in Kinshasa. The boutique property, which is currently under development, is set to open in Q1 2023, and on opening the hotel will set a new benchmark for the hospitality sector in Kinshasa with its all-suites accommodations…
Read More
UGANDA – Tourism-tech startup, Tripesa has raised a pre-seed round of funding as it seeks product-market fit ahead of continental expansion. The startup has been mostly bootstrapped, though Eric Osiakwan, an angel investor. In June, the startup secured an undisclosed amount of pre-seed funding from Future Africa, Consonance Investment Managers and LTNT Investments. Founded by David Gonahasa alongside Thomas Karugaba…
Read More