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Nigeria Remains Investors’ Priority, Says BON Hotels Boss

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  • Nigeria Remains Investors’ Priority, Says BON Hotels Boss

The Chief Executive Officer, Bon Hotels Grand Pelaand Suites, Mr. Peter Nwakeze has said Nigeria remained a viable investment destination guaranteed to yield maximum returns notwithstanding the current global economic situation.

He said local and international investors should take a cue from the multi billion investment that had been made by his company in the tourism and hospitality sectors.

He said these investments have added value to the economy-creating jobs and aiding economic diversification and empowerment of Nigerians.

Speaking in Abuja during the launch /opening of Bon Hotels Grand Pela and Suites, Nwakeze said the idea of building the hospitality firm was born out of his desire to contribute to the structural and social development of the fast-growing capital city and to provide employment to the teeming unemployed youths roaming the nation’s streets every day.

He said his business sojourn, which has taken him to various places in the world, raised his passion to provide hospitality and made understand that a contribution to hospitality industry is indeed a service to humanity.

Nwakeze said: “I know there are many existing hotels in Abuja, but I decided to make a paradigm shift by adding new features in the hotel which represents our core values of excellence and professionalism in order to change the old perception of Abuja hotels by tourists and visitors. These new features will be observed as you inspect our facilities and rooms. We want to carve a niche in the hospitality business that will leave a lasting experience in our customers.”

Nwakeze noted that the mission statement which is to offer a unique and exceptional services that will promote Grand Pela Hotel and Suites into an inspiring and most sort after brand synonymous with creativity and excellence is apt, because it represented what his personal values and what those of the hotel are.

According to him, since the hotel business is a dynamic and proactive one, suggestions on how to improve services will not only be welcomed, but also form an integral part of the company’s policies.

According to him: ” I want to emphasise at this point that we are not averse to constructive criticisms and suggestions because they will help in our future upgrading of the hotel as the hotel business is a dynamic one.”

Nwakeze also said the group has concluded arrangements to open more Grand Pela Hotels in all the six geo political zones in the country, adding in due course, that other West African countries will become part of the unmatched experience that Grand Pela provides its clients.

On his part, the Chief Executive of Bon Hotels, Mr. Guy Stehlik, said the group has seen phenomenal growth since its inception in 2012 with hotels across Africa including South Africa, Nigeria, Namibia, Ethiopia and Uganda, and is primed for significant expansion throughout the continent.

He said the hotels offers expertise of an international standard in their approach to hotel management, property openings, new builds or the upgrade of existing properties, with the specific needs of hotel owners’ front of mind. BON Hotels, he added, has been embraced for its fresh perspective in the African hospitality sector.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Investment

Saudi Arabia Aims for $80 Billion Tourism Investment to Fuel Vision 2030 Goals

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Saudi Arabia is embarking on a bold venture to attract up to $80 billion in private investment into its burgeoning tourism industry, a move pivotal to realizing its ambitious Vision 2030 objectives.

Tourism Minister Ahmed Al Khateeb unveiled the kingdom’s aspiration during an interview in Riyadh, emphasizing the imperative role of the private sector in spearheading investment endeavors.

With plans to disburse approximately $800 billion on tourism over the next decade, Saudi Arabia is steadfast in its pursuit to diversify its economy and reduce dependency on oil revenues.

Vision 2030 outlines a trajectory for the kingdom to metamorphose into one of the world’s premier tourist destinations, targeting 150 million annual visitors by 2030, a significant portion originating from overseas.

While the government and sovereign wealth fund have historically fueled tourism development, securing substantial foreign direct investment, particularly from the private sector, emerges as paramount in expediting Vision 2030 initiatives.

The kingdom’s fiscal projections, forecasting deficits until 2026, underscore the urgency of engaging private investors to actualize the ambitious tourism blueprint.

Saudi Arabia, having welcomed 100 million tourists in 2023, predominantly domestic travelers, eyes international markets such as India, China, the UK, France, and Germany for tourist influx.

A new program launched by the Ministry of Tourism aims to streamline investment processes, potentially unlocking $11 billion in private investment, bolstering Saudi Arabia’s tourism trajectory and reshaping its economic landscape.

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CBN Unveils Plan to Settle N1.64 Trillion Treasury Bills in Q2 2024

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The Central Bank of Nigeria (CBN) has announced its strategic approach to managing liquidity and meeting financial obligations by unveiling a comprehensive plan to settle Treasury Bills (TBs) worth N1.64 trillion during the second quarter of 2024.

This initiative, part of the CBN’s Nigeria Treasury Bills Issue programme, aims to regulate the money supply within the economy while effectively managing liquidity dynamics.

According to documents obtained by Investors King, the TBs settlement program is slated to commence on March 7th and conclude on May 23rd, 2024.

The CBN will focus on settling TBs with varying tenors, including N414.29 billion on 91 days, N43.74 billion on 182 days, and a substantial N1.18 trillion on 364 days.

The breakdown of the settlement plan reveals monthly settlements to address maturing TBs. In March, the CBN plans to settle N660.62 billion worth of TBs, followed by N292.17 billion in April and N688.3 billion in May.

Market analysts interpret this move as a testament to the CBN’s commitment to managing financial obligations and maintaining economic stability.

It provides investors with opportunities to engage in short-term financial instruments while contributing to overall liquidity dynamics.

The strategic settlement plan reflects the CBN’s proactive stance in navigating economic challenges and ensuring stability within the financial landscape.

As the apex bank implements these measures, stakeholders will closely monitor their impact on market dynamics and economic indicators, anticipating implications for investment decisions and monetary policy outlooks.

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China’s State-Owned Lenders Allocate $8 Billion to Revitalize Property Market

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China’s state-owned lenders have committed a substantial $8 billion in loans to rejuvenate the country’s beleaguered property market, aligning with Beijing’s directives to bolster the sector.

Agricultural Bank of China Ltd. disclosed approving over 40 billion yuan of loans for real estate projects on predefined white lists, signaling a proactive approach towards supporting the housing market’s recovery.

China Construction Bank Corp. also joined the effort, extending 3 billion yuan to five property projects, with plans to greenlight over 20 billion yuan in loans soon.

Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. are among the institutions offering financing assistance, although the exact loan amounts remain undisclosed.

This initiative follows Beijing’s recent call for local authorities to enhance financing support for developers and curate lists of eligible projects.

In response, the big four state lenders pledged to meet reasonable financing demands from developers and projects identified under the coordination mechanism.

However, China’s property market faces challenges despite these measures. New home sales plummeted 34.2% year-on-year, underscoring the ongoing slowdown.

While existing home transactions surged during the Spring Festival holiday, new home sales remained subdued, prompting a cautious outlook among buyers.

The infusion of $8 billion aims to instill confidence and stimulate activity in the property sector, potentially heralding a gradual recovery amid persisting market uncertainties.

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