Browsing: Qatar Investment Authority (QIA)

Qatari fund buys Crowne Plaza Hotel for Sh4.6bn

It is expected that the industry, which is generally one of the country’s top suppliers of foreign cash, will earn Sh173 billion this year, which is an increase of 18.5 per cent from the previous year.

Earnings dropped to a total of 88.6 billion shillings (Sh88.6 billion) due to governments all over the world restricting the movement of people, primarily through the closing of airspaces.
The number of hotel nights occupied by Kenyan tourists more than doubled during this period, which contributed to the increase in revenue to 146 billion shillings last year.

Due to the epidemic, local resorts, which typically focus most of their marketing efforts on attracting visitors from other countries, were compelled to cater to vacationers from within their own country by providing discounted room rates.

The number of tourists from different countries was still significantly lower than before the epidemic, reaching slightly under 870,500 in 2018, …

Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA) is set to invest $200 million in Airtel Africa’s mobile money business dubbed Airtel Mobile Commerce BV (AMC BV).

This follows an agreement that was signed between the two firms.

Majority stake

According to the signed agreement, QIA will hold a minority stake in AMC BV upon completion of the Transaction (alongside other minority investors), with Airtel Africa continuing to hold the majority stake. The Transaction is subject to customary closing conditions.

A statement released by the telecom’s operator states that deal will close in two tranches, $150 million invested at the first close. The remaining $50 million will be invested at the second close.

QIA will be entitled to appoint a director to the board of AMC BV and to certain customary information and minority protection rights.

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