Browsing: Egypt

• Marriott unveils plans to add more than 50 hotels and 9,000 rooms by the end of 2027. 
• Hilton seeks to triple its African portfolio to more than 160 hotels, opening over 100 new hotels in the coming years and creating approximately 18,000 jobs.
• Job creation, tourism, and the quest for regional connectivity fueling investments.

At the recent Future Hospitality Summit Africa in Cape Town, two of the world’s largest hotel chains—Marriott International and Hilton Worldwide— have unveiled bold, transformative plans to expand across Africa’s rapidly evolving hospitality industry.

With combined targets of over 150 new properties and more than 27,000 rooms across multiple African countries by 2027, the announcements signal not only a rising tide of foreign investment in African tourism but also a growing confidence in the continent’s economic resurgence, travel demand, and urbanization.

This strategic pivot positions Africa as the next frontier in global tourism and luxury accommodation, …

• Egypt gets AfDB funding to build Africa’s largest solar power plant.
• Egypt’s Obelisk to produce 1 gigawatt solar photovoltaic.
• Obelisk to cost more than $590 million.

The AfDB has announced plans to fund construction of the Obelisk in Egypt, a 1 gigawatt solar photovoltaic project and Africa’s largest solar power plant.

“The Board of Directors of the African Development Bank Group has approved a financing package of up to $184.1 million to support the development of the Obelisk 1-gigawatt solar photovoltaic project and 200MWh battery energy storage system in Egypt,” a press release from the Bank stated.

Upon completion, the Obelisk will be Africa’s largest solar power plant. Located in Qena Governorate in southern Egypt, the project entails the design, construction, operation, and maintenance of a photovoltaic power plant with an integrated battery energy storage system.

“The Egyptian Electricity Transmission Company will be the sole off-taker under a 25-year Power …

• This expansion drive comes on the heels of Hyatt’s impressive 51 per cent rooms growth across Africa in the past two years alone.
• “Last year marked a breakthrough for Hyatt in Africa, and we’re just getting started,” states Stephen Ansell, Managing Director, Hyatt, Middle East and Africa.
• An outstanding feature of the hotel’s African strategy is the dual-brand model—a cost-effective and flexible solution for rapidly urbanizing cities.

As global hospitality brands sharpen their focus on untapped and emerging markets, one name is charting an ambitious course across Africa: Hyatt Hotels Corporation. The US-based multinational is betting big on the continent’s rising middle class, robust travel demand, and burgeoning business corridors—with plans to grow its footprint by a staggering 50 per cent by the end of 2030.

This expansion drive comes on the heels of the business’ impressive 51 per cent rooms growth across Africa in the past two years …

• Dar es Salaam hosts Egypt-Tanzania Business Conference.
• Trade mission comes in wake of Tanzania-Ethiopia energy pact.
• Trade mission organized by the Egyptian Export Council for Chemical Industries and Fertilizers.

In March, Egypt sent powerful business delegation to Tanzania for the inaugural Egypt-Tanzania Business Conference which was held in Dar es Salaam. Ambassador Sherif Ismail, Ambassador of the Arab Republic to Tanzania, inaugurated the event which he termed marked the beginning of a high ranking Egyptian trade mission to the East African country.

“The event was organized by the Egyptian Export Council for Chemical Industries and Fertilizers in collaboration with the Export Council for Building Materials, Refractories, and Metallurgical Commodities, and coordinated by the Egyptian Commercial Service (ECS),” the press release issued at the event detailed.

In his opening remarks, Ambassador Sherif Ismail cited “strategic importance of the forum in deepening economic and trade relations between Egypt and Tanzania.” Additionally, the …

• African countries undermine their economic growth by prioritising trade with Europe and the United States over regional markets.
• How do we ensure that African countries trade among themselves? asks Dr. Phenyo Butale, Botswana’s Minister of International Relations.
• “We [Botswana] have high-quality beef in Botswana and the North West province, we export it to the European Union, yet Angola and the Democratic Republic of the Congo buy their beef from Brazil. Does that make sense? It doesn’t,” says Dr. Butale.

Despite its vast resources and production capacity, regional trade in Africa remains low with many economies relying heavily on overseas markets. This state of affairs has prompted Botswana to raise the alarm about low levels of intra-African trade.

“It’s disheartening that Africa is still unable to realise trade among its countries,” said Dr Phenyo Butale, Botswana’s Minister of International Relations, delivering a lecture in honour of the late South African Deputy …

• Egyptian Professor of Geology claims its only a matter of time before Ethiopia’s GERD dam collapses when filled to capacity.
• GERD was designed to hold 11 billion cubic meters, but its capacity was increased to 60 billion cubic meters – which raises many concerns, especially since Ethiopia is a country prone to earthquakes, the scholar states
• African’s praise GERD achievements on social media #ItsMyDam, #GERDisYourDam

The Grand Ethiopian Renaissance Dam (GERD) is at risk of collapse, an Egyptian media outlet reported recently. The ‘Egypt Independent’ quoted a Cairo University Professor of Geology and Water Resources Abbas Sharaky allegedly saying that “GERD was designed to hold 11 billion cubic meters, but its capacity was increased to 60 billion cubic meters – which raises many concerns, especially since Ethiopia is a country prone to earthquakes.”

In the article titled ‘Grand Ethiopian Renaissance Dam is at its utmost limit and risks collapse,’…

• Employment in Egypt’s private sector contracted in November, marking the fastest decline since February 2024.
• This dip was largely attributable to companies opting not to replace departing staff due to weakened sales and subdued optimism.
• Across the industry, purchase prices of goods increased partly due to a stronger US dollar against local currency.

Egypt’s private sector continued to face persistent challenges in November, with a drop in employment levels reflecting waning optimism across industries. According to the latest S&P Global Egypt Purchasing Managers’ Index (PMI), economic uncertainty and weak customer demand stifled growth prospects for the North African country, forcing businesses to scale back hiring and purchasing activities.

The PMI climbed slightly to 49.2 in November from 49.0 recorded in October, marking the second consecutive month of improvement but still lingering below the critical 50.0 threshold that signals expansion.

Senior Economist David Owen noted that while the contraction rate slowed, …

• PickAlbatros operates a portfolio of 4-star and 5-star hotels located in key tourist destinations in Egypt.
• Vantage Capital’s exit highlights the resilience and growth of Egypt’s hospitality sector amid challenging global conditions.
• Egypt’s hospitality sector is a key pillar of the country’s economy, attracting 15 million international tourists annually.

Vantage Capital, Africa’s mezzanine debt fund manager, has announced the successful full exit of its investment in PickAlbatros Hotels, a leading hotel owner and operator based in Egypt.

PickAlbatros operates a portfolio of 4-star and 5-star hotels located in key tourist destinations along Egypt’s Red Sea coast, including Sharm El Sheikh, Hurghada, Sahl Hasheesh, and Marsa Allam.

These resorts are popular for their luxurious beachfront access, fitness clubs, water parks, and swimming pools, making them major attractions for international tourists, particularly from Europe.

The investment exit marks a milestone for both Vantage Capital and the PickAlbatros group, highlighting the resilience and …

• The latest Stanbic IBTC Bank Nigeria PMI shows most companies continued to report less demand, attributable to an increase in the cost of products.
• Nigerian industries reported the sharpest rise in input costs and output prices in six months.
• High pump prices, transportation, and materials for manufacturers continued to hurt businesses in the month under focus.

Inflation in Nigeria

Rising inflationary pressures in Nigeria hit businesses hard at the close of the third quarter, with selling prices increasing by the sharpest margin in six months. The country’s private sector reported marginal job opportunities in September, the lowest in the previous three months.

According to Stanbic IBTC Bank Nigeria PMI, most companies continued to report less demand, attributable to an increase in the cost of products amid thinning incomes. Findings show that business confidence dipped in September and was the second lowest level on record, only just above July.

“Nigeria’s …

• The African pharmaceuticals market is projected to reach $34 billion by 2027.
• Egypt has been tipped to contribute most to Africa’s pharmaceutical industry’s growth.
• What implication does this change present to global pharmaceutical giants?

Africa pharmaceutical investment is well underway, and for the first time, the continent seeks to produce and distribute medicinal drugs but, what would be the impact on the global industry? “The failures of the global health systems during the COVID-19 pandemic—when export restrictions, lockdowns, and hoarding sent supply chains into frantic disarray—made local manufacturing of pharmaceutical supplies a top priority for African leaders,” notes global health writer Sara Jerving in her report titled New foundation is ready to help African pharmaceutical manufacturers.

Africa pharmaceuticals market reached $25 billion 2022 and is expected to grow at a 6 percent five-year CAGR to reach $34 billion by 2027 reports IQVIA, a global research institute. According to the …