Browsing: Morocco

• 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, …

• 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 …

• Global tech giants are meeting in Marrakech in May for the GITEX Africa expo as they seek a slice digital economy in the continent.
• Investors will be keen on learning tech advances in digital health, finance, AI consumer tech, cloud and IoT, as well as cybersecurity among others.
• GITEX Africa is organised by KAOUN International, an affiliate of Dubai World Trade Centre, which also organises GITEX GLOBAL show in the UAE.

This year, thousands of investors and entrepreneurs are converging in Marrakech, Morocco, for GITEX Africa, a signature tech and start-up expo that is poised to define the next phase of the continent’s digital economy.

The show, now in its second edition, comes under the Patronage of His Majesty King Mohammed VI of the Kingdom of Morocco. GITEX Africa, which is scheduled from 29-31 May 2024, is organised under the authority of the Moroccan Ministry of Digital Transition and Administration …

• The AfDB and partners in Rabat, Morocco, are organizing the 2024 Africa Investment Forum to catalyze investments in Africa’s agriculture, infrastructure, and renewable energy.
• The forum is a pivotal platform for advancing Africa’s economic integration, promoting policy innovation, and encouraging private-sector engagement and international collaboration.
• By aligning with sustainable development, inclusivity, and green finance goals, the Africa Investment Forum aligns with global sustainability goals, positioning Africa in the transition to a green economy and attracting ethical investments.

Set against the vibrant backdrop of Rabat, Morocco, the 2024 Africa Investment Forum Market Days, scheduled for December 4–6, is yet another cornerstone event for continental and global investors seeking growth opportunities in the continent.

The African Development Bank and seven founding partners will back this forum to drive investment-ready deals to fruition, further highlighting its critical role in Africa’s economic landscape.

Africa Investment Forum a catalyst for investment mobilisation

Since its inception …

• International Finance Corporation targets specific projects in Côte d’Ivoire, Egypt, Kenya, Morocco, Senegal, and South Africa.
• IFC’s $30 million (Sh4.8 billion), own-account investment will help Africa Infrastructure Investment Fund 4 Partnership (AIIF4) exceed its final close target of $500 million (Sh80.4 billion).
• A pan-African infrastructure private equity firm called the Africa50 Infrastructure Acceleration firm I is raising up to $500 million for investments

Kenya is among six African countries that International Finance Corporation (IFC) will pump $30 million (about KSh4.8 billion) equity investment to fund works on essential infrastructure.

The fund, managed by Africa Infrastructure Investment Managers (AIIM), part of the Old Mutual Group, will support projects in the telecoms, renewable energy, and transport sectors across Africa but with a specific focus on Côte d’Ivoire, Egypt, Kenya, Morocco, Senegal, and South Africa.

In the telecoms sector, the fund will focus on financing data centers, fiber networks, and communications towers. In …

The eastern Libyan city of Derna has gone into mourning after catastrophic flooding that left about 10,000 people missing. Rescue teams have embarked on recovery efforts for the remains of loved ones as the scale of the disaster unfolds. Media reports say authorities estimate that close to 2,000 people have lost their lives in the Derna area alone.

The Libyan Government of National Unity (GNU) has issued a heartbreaking report stating that the entire road and bridge network in Derna has collapsed. This now calls for an estimated $67 million for reconstruction.…

Africa’s e-mobility is gaining momentum, largely driven by the daunting climate change crisis, fueling the need to decarbonize transport systems. African countries remain in pursuit of e-mobility solutions and advancement to low-carbon economies. Africa’s endowment with minerals key to the global green transition offers a significant advantage.…

Population growth and economic development have necessitated speeding up and scaling up infrastructure development in Africa. Over 28 African nations have seen population growth of more than double in the last 30 years. The population of 26 other African countries will quadruple over the next 30 years. Consequently, funding for the continent’s infrastructure has become essential.…

• IFC and the Sovereign Fund will identify high-impact infrastructure projects in strategic sectors in Morocco.
• They will work closely with stakeholders to structure them into viable projects, respecting the best environmental, social and governance standards.
• IFC will also support the establishment of an Infrastructure sub-fund of the Mohammed VI Fund for Investment open to Moroccan and international partners.

A cooperation between the Mohammed VI Fund for Investment and the IFC has been established to find and fund sustainable infrastructure projects in Morocco.

One of the most important segments of the Moroccan economy is the infrastructure industry. Large capital investments are necessary, necessitating more private sector investment alongside public investment.

Infrastructure projects in Morocco

In accordance with this agreement, the Sovereign Fund and IFC will find high-impact infrastructure projects in Morocco industries.

“IFC is supporting the Government of Morocco to mobilise private investment in the infrastructure sector. This new partnership signed …