Real Estate: Latest News
Peter Pedroncelli, 3:05 pm AFKI Original
The hotel industry in Africa is growing with opportunities and excitement, as investors make plans to enter the market while other more established players look to expand their footprint on the continent. Here are 12 things that perhaps you did not know about the hotel industry in Africa.
Kevin Mwanza, 6:00 am AFKI Original
The governments of Ethiopia and Djibouti opened a 752.7 kilometer electric railway, to serve the two horn of Africa neighbors. The railway will provide a faster transportation of goods and people between the two nations. It will also boost Ethiopia’s landlocked economy through the transport of cargo from the Port of Djibouti. The port handles about 90 percent of the imports into Ethiopia. Below are 10 things you need to know about the railway.
Kevin Mwanza, 10:53 am
The hotel industry will enjoy a boom in sub-Saharan Africa in the next three years, with East Africa leading the growth that will see about $3.6 billion worth of investment into the sector in the next two years. Tourism, diplomatic and non-governmental activities in the East African nations of Kenya, Rwanda and Ethiopia are leading the growth.
Kevin Mwanza, 4:34 am
Ethiopia has launched a $4 billion Chinese-funded electric train system today, the first in Africa, which will link the capital Addis Ababa to the Port of Djibouti — the entry point for more than 90 percent of the nation’s imports and exports. The railway line which is 752.7 kilometers long with a speed of 120 kilometers per hour will reduce transportation period between the two nations from ten to seven days
Dana Sanchez, 9:50 pm
For ambitious young U.S. soldiers seeking leadership, a deployment in Africa is hard to beat. And that means being based in Djibouti. Djibouti’s status as a stable country in an otherwise volatile region is an asset worth millions of dollars in rent. Djibouti enjoys a lucrative role as a landlord. The U.S. pays $63 million a year to rent its base at Camp Lemonnier. China is building a base 8 miles away, and will be paying $100 million for theirs.
Kevin Mwanza, 9:05 am
Hilton Worldwide, a leading global luxury hotel chain, will build its first modular and tallest hotels in Ghana and Kenya as it seeks to expand its presence in three more countries across Africa. The move is part of the hotel’s plan to increase its chains from the current 39 outlets to more than 80 in Africa, in the next five years. “We remain hugely committed to Africa across our portfolio of world-class brands, continuing to introduce our hotels to new markets across the whole of sub-Saharan Africa in the coming years,”
Ann Brown, 5:28 pm AFKI Original
The entire African tech startup community was shocked in June 2014 when Carey Eaton, co-founder of the largest online classifieds company in Africa, was murdered. A month earlier, Eaton had acquired a stake in BuyRentKenya, which has grown into one of Kenya’s most popular property listing sites. BuyRentKenya co-founder Jamie Pujara talked to AFKInsider about his relationship with Eaton and how BuyRentKenya is doing.
Kevin Mwanza, 10:30 am
Kenya, East Africa’s biggest economy is set to get its second six-lane highway through a joint-partnership with the US government to upgrade the 485-kilometer highway from Nairobi to the port city of Mombasa. The US Export-Import Bank and Bechtel, one of the leading construction and engineering firms will fund the project. The Overseas Private Investment Corporation (Opic) will act as guarantor against any possible breach of the agreement by Bechtel,
Dana Sanchez, 3:21 pm AFKI Original
Online retail is still small by global standards in much of Africa, but it’s growing fast thanks to increased penetration of smartphones. E-commerce in Africa is expected to be worth $50 billion in 2018, up from US$8 billion in 2013. There’s rising demand for warehouse space by manufacturers seeking to expand in Africa. Knight Frank singled out landlocked Zambia as one of the most promising logistics locations in sub-Sahara, thanks to its geographical position at the intersection of Southern, Eastern and Central Africa.
Kevin Mwanza, 7:44 am
Dangote Cement, owned by Africa’s richest man, Aliko Dangote, now controls 22 percent of the market in Tanzania since it launched operations in June as its low cost cement continues to upset companies that have for years dominated the East African market. Lafarge Holcim of France which is the biggest producer in Africa controls the biggest share of the East African market with a 27 percent; Tororo Cement of Uganda has 21 percent; while ARM Cement has 17 percent.
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