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Kenyan hotelier TPS's profit jumps 23 pct in 2011

Kenyan hotelier TPS Eastern Africa (TPSE.NR: Quote, Profile, Research) posted a 23 percent jump in 2011 pretax profit to 853 million shillings ($10.4 million), even though security alerts hurt business in the fourth quarter. ... Full story

Travel groups pour into open-for-business Africa

The world's big hotel chains and airlines are rushing to serve new corporate customers in Africa, as Chinese and Middle East investment boosts business interest in the resource-rich region. ... Full story

Libyan govt reclaims Gaddafi mansion in London

The Libyan government reclaimed possession from Saadi Gaddafi of a London mansion worth 10 million pounds after a British court ruled on Friday it had been bought using stolen Libyan state funds. ... Full story

Construction at The Gateway Malawi’s biggest retail centre on track

Development of Malawi’s new 17 500m² retail shopping centre, The Gateway, is on track, scheduled to open in March 2013 ... Full story

Mozambique to spend $500m on airports

Mozambique's airport company will spend $500m over three years to modernise its key facilities to encourage more foreign carriers to open routes to the country, its CEO said on Wednesday. ... Full story

Broll Ghana claims property management expertise at the 5th annual Ghana Property Awards

Broll Ghana, part of the CBRE Affiliate Network, has won the Commercial Property Management award category at the fifth annual Ghana Property Awards, an industry ceremony organised under the auspices of the Ghana Real Estate Developers Association (GREDA). ... Full story

Pinnacle Point Lagos Keys project folds

Pinnacle Point Group cannot raise funds to develop its Lagos Keys project in Nigeria, whose value is estimated to be R398 million. ... Full story

China rail company inks $1.4 billion contracts in Africa

A subsidiary of China Railway Construction Corp Ltd has signed two projects in Africa with a total contract value of 9.1 billion yuan ($1.4 billion), the company said in a statement to the Shanghai Stock Exchange. ... Full story

City Lodge ushers in African expansion

Sales improve 9% in the six months to December 31 compared to the year before, plans now in the pipeline to invest R1,5bn in hotels across Africa. ... Full story

International brands push demand for retail space in West Africa

There is a strong demand for retail space in both Nigeria and Ghana, driven largely by a growing middle-class and interest from international brands to enter the West African market. ... Full story

Lonrho clinches hotel deal in Kinshasa

Lonrho Hotels, a division of London-listed property group Lonrho Plc, has entered into a 10-year management agreement for the 450-room Grand Hotel in Kinshasa, the capital of the Democratic Republic of the Congo (DRC). ... Full story

Southern Sun eyeing new markets in Africa for its hotels

Southern Sun, the hotel unit of listed casino and hotel group Tsogo Sun, is eyeing opportunities to expand its Garden Court and StayEasy brands into African countries beyond SA’s borders over the next five years. ... Full story

Nigeria conflict highlights Africa investment risks

Nigeria's recent explosion of violent political unrest is damaging the economy and forcing investors to reassess their optimism over the short-term returns available there and elsewhere in Africa. ... Full story

PPC targets growth to rest of Africa

Cement producer PPC will increase its exposure to the rest of Africa so that by 2016 revenue from this area will comprise between 40% and 50% of its income. ... Full story

Sudan project first phase completed

The first phase of a $400 million multi use development project in the heart of downtown Khartoum in Sudan, was completed in December 2011. ... Full story

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