Marriott International (NASDAQ: MAR) today announced plans to debut Element Hotels, the stylish eco-incubator brand in Egypt in early 2019. Located in Cairo’s upscale Heliopolis district and slated to be the largest Element Hotel in the Middle East and Africa.
New report sponsored by global law firm Baker & McKenzie finds that the funding gap for African infrastructure narrows to about USD25bn a year.
The International Monetary Fund predicts sub-Saharan Africa growing at 5.4 percent this year compared to 1.4 percent for developed economies.
South Africa, along with Egypt, Nigeria, Morocco and Tunisia, accounted for 60 percent of all direct investment inflows into Africa from 1997 to 2001, a draft World Economic Forum (WEF) report had shown.
In the bun-fight for domination of the food retailing business in South Africa, with Whitey Basson's Shoprite chain in one corner, and Sean Summers' Pick 'n Pay in the other, the outcome looks like a hard-fought draw, locally at least, with both groups claiming around 40% of the R50 billion industry.