Industrial Development Corporation invests $121M in Ghana, Uganda hotels

Interesting news from Africa's hotel scene today, where the Industrial Development Corporation has reportedly invested about 1.5 billion South African rand (about $121 million USD) in Ghanian and Ugandan hotels.

The IDC said the construction of the hotels was part of its drive to create opportunities for local companies to export their goods and services into the rest of Africa. The corporation already has exposure of close to a $1 billion in the rest of Africa.

"Those hotels are almost done," IDC CEO Geoffrey Qhena told Business Day Live. "The hotel in Ghana will be operated under Marriott and the one in Kampala under Hilton.

Virtual Event

Hotel Optimization Part 3 | Available On Demand

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event, now available on demand, for expert panels focused on getting you back to profitability.


The IDC has about 60 projects in about 20 countries in industries such as energy, infrastructure, agro-processing and services.