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Accor Hotels Group inks deal to bring Ibis Styles hotel to Addis Ababa

The French augmented hotelier, Accor Hotels Group, has agreed to bring in and manage Ibis Styles, a mid-scale brand as a fifth pipeline project in Ethiopia under its umbrella. The property, costing USD 23 million, will open its doors by the end of 2023, and will have 150 keys (rooms) suitable for most young and middle class business travelers and executives, who would not mind spending USD 140 to 150 per room night.

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Africa Insurance Records 2.8 million birr loss for the 2019 / 2018 f.y

Ranked among the top three insurance companies two years back, Africa Insurance Company registered only the second loss in its quarter century existence.
The company registered a loss of 2.8 million Br, a drastic fall from the 59.1 million Br profit it made the preceding year. The loss translated into a huge fall in earnings per share that dropped to 16 Br from 334 Br.

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