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Despite Pandemic, Hotel Chains Grow in Africa

May 2, 2021May 2, 2021 admin2Africa, Business, Covid, Hotels0 comment

Global chains snap up distressed independent properties in bid to expand footprints JOHANNESBURG—Africa’s tourism sector has cratered in the face of the coronavirus, but the world’s biggest hotel chains remain committed to the continent. Major hotel chains, from Marriott International MAR -1.66% to Radisson Hotel Group and Paris-based Accor, AC -2.39% Europe’s largest hotel company, say their African businesses are not only holding up, they are determined to stay on track with, if not grow, their footprints. The companies see sub-Saharan Africa as underserved and underdeveloped in terms of hotels and predict that demand for both business…

Jacobs said that the island boasts excellent private schools, reputable banking systems, regulatory certainty, technology-driven government systems, as well as an efficient and linear tax system. “The effective tax rate of 15% for individuals are well below those applicable to South Africa and other countries. A significant difference is that Mauritian residents are only taxed to the extent of the money that they bring into the country. “These financial incentives, combined with the close proximity to South Africa, will likely see more people moving to Mauritius in the future." first published by businesstech.co.za

Business

More South Africans are looking to move to Mauritius

August 31, 2020 admin2Business, Mauritius, South Africans0 comment

Staff Report The Mauritian government has made changes to investment thresholds, the extension of work, residence, retirement permits, and attractive property acquisition options. This has led to renewed interest in the country from South Africans who are looking at Mauritius as a permanent destination, says Marisa Jacobs, director at advisory service, Xpatweb. “Skilled professionals and business owners with families in South Africa are taking note of finance minister Renganaden Padayachy’s changes and adjustments for foreigners. “It is now easier to buy property, work, as well as retire on the…

With more than 1,800 staff, Stanbic employs more people than any other bank in Uganda. Management has had to think of ways to keep costs lower while the maintaining full coverage of the country. Such strategy has come at the cost of reducing employment and having to relocate some of their branches to rather cheap locations.

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Standard Bank eyes expansion into francophone West Africa

April 11, 2018April 11, 2018 admin2Africa, Business, Standard Bank0 comment

South Africa’s Standard bank is set to expand its operations into francophone West Africa.The bank is riding on a chinese investment drive into Ivory Coast to establish a foothold in the region.Chinese authorities and companies have committed over $7.5 billion over the next few years to invest in infrastructure in the Ivory Coast. “By virtue of our relationship with the ICBC (Industrial and Commercial Bank of China) we think we’re in a position to provide advice, structuring and the capability to deploy the resources necessary to get involved…

Business News

Africa soon be the largest free-trade area in the world

August 24, 2017August 24, 2017 admin2Business, Intra African Trade, News0 comment

Transport Infrastructure Driving Boost in Africa’s Cross Border Trade Africa could soon be the largest free-trade area in the world. This is if the African Union’s Continental FreeTrade Area (CTFA) stays on track to be operational by the end of this year. Once up and running, the continent-wide free trade zone could lead to a 52 percent ($35 billion) increase in intra-African trade within the next 5 years, according to the United Nations Economic Commission for Africa (UNECA). The UNECA’s Stephen Karingi, who heads their Regional Integration and Trade Division,…