• About
  • Advertise
  • Privacy & Policy
  • Contact
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.
Advertisement
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
No Result
View All Result
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
No Result
View All Result
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.
No Result
View All Result
Home News News

Hospitality Sector Lacks Enough Funding Despite Many Willing Investors

by
7th April 2020
in News
0
Hospitality Sector Lacks Enough Funding Despite Many Willing Investors

https://www.accorhotels.com/9399

0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Hotel developers across the continent of Africa see funding as the most significant challenge harboring the growth of this critical sector. 

Radisson’s new head of development for Africa states that the industry is yet to develop to the point of being able to make for a regional priority for global capital. 

Ramsay Rankoussi, while on an interview, added that the process for an investor to acquire financial support from financial institutions is complicated as many documents are required prior. 

With some investors being willing to undergo the journey of documentation provision, still, the funds provided from institutions and financial networks are unable to see the completion of a single project.

“Costs of financing are usually high, and therefore an operational burden that can be carried on a project and its initial investment may quickly result in questioning the viability of pursuing it or not,” said Ramsay.

According to Ramsay, most African countries lack local structures able to provide world-class professional design teams and ensure proper work. 

“Usually, costs of construction across Africa is the highest globally due to those factors, but as we see hospitality becoming a national and regional priority for many African countries, we can expect the professionalization of the sector and the reduction of the associated costs over time,” he told Top hotel News.

“Being part of Jin Jiang International, the second-largest hotel group in the world in terms of a number of rooms, brings us immense opportunities to access the growing Chinese demand but also secure new sources of capital and resources relevant to Africa,” he added.

The group’s development strategy interlinks to the Chinese sponsored Silk & Belt road initiative.

Kenya is slowly shifting its focus to target the corporate travel market in order to match international guest expectations. Kenya’s hospitality industry contributes an average of 10% to the country’s GDP, which is higher than the continent’s average of 8.1%. It’s worth mentioning that the travel and hospitality sector in Kenya is the country’s second foreign exchange earner after agriculture.

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to print (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Skype (Opens in new window)

Like this:

Like Loading...

Related

Previous Post

China’s Supply Disruption Affects Construction Sector

Next Post

Importers to Pay More as Freight Operators Hike Prices

Next Post
Importers to Pay More as Freight Operators Hike Prices

Importers to Pay More as Freight Operators Hike Prices

  • Trending
  • Comments
  • Latest

Do You Know the Requirements for Your Passport Collection in Kenya?

9th October 2023
Chilli Farming in Kenya, The Untapped Venture

Chilli Farming in Kenya, The Untapped Venture

17th January 2025
kenya2uhub.com

List of Chinese Construction Companies in Africa

5th February 2021
Raspberry Farming in Kenya: the sign of sucess

Raspberry Farming in Kenya: the sign of sucess

14th February 2022
Kenyans in UAE Diaspora to Benefit from EXPO 2020 Dubai

Kenyans in UAE Diaspora to Benefit from EXPO 2020 Dubai

3
Influencer marketing in Kenya. Image is a collage of camera, tablet with a social feed showing on screen and other pieces used for digital content creation.

Why You Should Be Considering The Use Of Influencers In Your Business – Let’s Talk Digital.

1

Aljazera interview with Uhuru – Tuesday 22nd

0

Tazama

0
President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

23rd January 2025
Looking for a Market for Your Chilli Produce?

Looking for a Market for Your Chilli Produce?

23rd January 2025

Recent News

President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

23rd January 2025
Looking for a Market for Your Chilli Produce?

Looking for a Market for Your Chilli Produce?

23rd January 2025
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.

Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.

Follow Us

Browse by Category

  • Ads & Trades
  • Business
  • Entertainment
  • Fintech
  • Food
  • Gaming
  • Hospitality
  • KCB DIASPORA AGENT
  • Lifestyle
  • News
  • News
  • Real Estate
  • Sports
  • Tech
  • Travel
  • World

Recent News

President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© Copyright 2022 Kenya2uhub.com Powered by Domains Africa Technologies

No Result
View All Result
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
%d bloggers like this: