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InterContinental Hotels Group (IHG) partners with Msafiri Limited to open Holiday Inn and Crowne Plaza hotels

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4 years ago

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IHG

Across each property, IHG Hotels & Resorts and the new owners will elevate the guest experience by completing renovations and enhancements

NAIROBI, Kenya, November 3, 2022/APO Group/ — 

IHG® Hotels & Resorts (http://bit.ly/3WkvQJ8) has signed franchise agreements to rebrand three properties in Tanzania and Kenya to join the IHG portfolio of brands. The move sees IHG Hotels & Resorts swiftly expand its presence across Africa, as the continent’s profile continues to grow.

Holiday Inn Nairobi Two Rivers Mall (http://bit.ly/3T3ADf4) and The Fairview Nairobi (http://bit.ly/3NucZHI) in Kenya and Crowne Plaza Dar es Salaam (http://bit.ly/3NwlbXO) in Tanzania are now open and are welcoming guests. Across each property, IHG Hotels & Resorts and the new owners will elevate the guest experience by completing renovations and enhancements, incorporating brand hallmarks and standards that IHG guests recognize and love worldwide.

“Africa’s hospitality and tourism industry has weathered the disruption of the past two years, with a rising number of inbound travellers, highlighting how much potential the region has,” commented Haitham Mattar, Managing Director, India, Middle East & Africa at IHG. “Our expansion across Kenya and Tanzania is testament to how IHG Hotels & Resorts is encouraging this potential and meeting the returning demand quickly. We are delighted to have these properties join the IHG family and are excited to offer our guest the exceptional hospitality that we are known for.”

He further added: “Ownership that includes Actis and Westmont Hospitality is an important partnership to IHG We are pleased to grow together in the region and to bring exceptional properties and hospitality to guests visiting these two important gateway cities.”

A representative on behalf of the ownership said: “We are delighted to strengthen our partnership with IHG and expand our portfolio together into new markets and different brands.  Africa has tremendous MICE, business and leisure growth potential. Franchising with IHG at a time when travelers are increasingly purchasing branded offers on the continent also makes sense. These three hotels that are joining the IHG platform are very well located and will offer guests a great place to stay. We expect all three properties to benefit from the strength and scale of IHG’s global systems, technology and strong loyalty programme”

Funke Okubadejo, Director Real Estate, Actis, commented: “We are excited to establish a relationship with IHG, through our joint venture with Westmont Hospitality and this continues our track record of investing in exciting Real Estate opportunities across key locations in Africa.”

Holiday Inn Nairobi Two Rivers Mall

The hotel is located in the vibrant Gigiri/Runda district, in northern Nairobi. Holiday Inn Nairobi Two Rivers is within the 100-acre Two Rivers Mall & Entertainment complex; offering guests unrivalled access to over 200 shops, the City’s theme park and an array of family fun activities, such as go-karting and the skate park.

Our expansion across Kenya and Tanzania is testament to how IHG Hotels & Resorts is encouraging this potential and meeting the returning demand quickly

This new Holiday Inn Nairobi with 171 rooms, will be a popular choice amongst families, groups and those visiting the United Nations, NGOs, embassies and the many companies moving to this growing part of the city.  Along with excellent rooms, the hotel offers modern facilities, meeting rooms, a gym, a swimming pool and an all-day dining terrace.

Fairview, Nairobi, Kenya

The Fairview Hotel, located in Upper Hill Nairobi, is one of the City’s landmark addresses. The Fairview was converted from a 1920s manor house in 1932 and has been an established destination amongst discerning travelers, domestic and international, for decades. The property will be undergoing a sensitive refurbishment before operating under one of IHG’s boutique brands. In addition to offering an upscale hospitality experience, the Fairview’s reputation for its restaurant and bars will be further enhanced during the refurbishment.

The new ownership’s investment at Fairview is anticipated to have a positive social, environmental and economic impact. The Fairview team is already engaging in new skills training; and a greater social awareness has been incorporated into how the hotel operates within its local environment. Following the refurbishment, the team also hopes to achieve a material reduction in the property’s energy consumption.

Crowne Plaza, Dar es Salaam, Tanzania

Located within the central business district of Dar es Salaam, Crowne Plaza Dar es Salaam is anticipated to receive high demand from business travelers visiting Tanzania’s commercial center and leisure guests who decide to stop-off in Dar es Salaam in the hope of enjoying some Taarab music before travelling to Tanzania’s world-renowned Serengeti and Mount Kilimanjaro.

Crowne Plaza Dar es Salaam offers 148 bedrooms, an all-day dining restaurant, a bar, meeting rooms, a modern gym and a swimming pool.  Additionally, the property is conveniently located just one km from the city center and 11km from Julius Nyerere International Airport, making it an attractive option for international and regional travelers.

IHG currently operates 28 hotels across 5 brands in Africa, including: InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express and voco, with a further 22 hotels in the development pipeline due to open within the next three to five years. 

**Numbers as of June 30th, 2022

Distributed by APO Group on behalf of IHG Hotels & Resorts.

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Afreximbank Posts Robust Q1 2026 Results with 25% Growth in Net Income and Improved Profitability

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9 hours ago

on

May 22, 2026

By

Afreximbank

The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment

The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate

CAIRO, Egypt, May 22, 2026/APO Group/ –African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com) and its subsidiaries (the “Group”) announced its results for the three months ended 31 March 2026. The results demonstrate continued resilience, disciplined balance sheet management and strong deal execution despite a challenging global operating environment.

 

The Group continued to expand its lending activities in Q1 2026, resulting in total credit exposure growing by 2% to reach a portfolio of US$42 billion, up from US$41 billion as of 31 December 2025. This performance reflects Afreximbank’s leading role as a Development Finance Institution (DFI) in financing trade and trade-enabling infrastructure, and its strategic contribution to economic resilience across Africa and the Caribbean.

Average loans and advances for Q1 2026 stood at US$32 billion, up 8% compared to the same period in the prior year, driving the recorded growth in interest income. The Group’s liquidity position remained strong, with cash and cash equivalents of US$5.6 billion, representing 14% of total assets, consistent with FY2025 and above the Bank’s strategic minimum.

Asset quality also remained strong, with the non-performing loan (NPL) ratio at 2.40%, broadly in line with 2.43% at FY2025 and below industry average.

Shareholders’ funds increased to US$8.6 billion at 31 March 2026, up from US$8.4 billion at FY2025, supported by internally generated capital of US$268.9 million and new equity investments received during the quarter, underscoring the Bank’s continued ability to mobilise capital from its shareholders in support of its growth and development mandate.

The Group delivered strong profitability during the quarter.  Notwithstanding declining benchmark rates, total interest income rose by 14% year-on-year to reach US$813.6 million, while net interest income increased by 24% to US$510.0 million, compared with US$411.2 million in the first quarter of 2025. The Group’s cost-to-income ratio remained contained at 19%, well within the Group’s strategic ceiling of 30%. As a result, Profit for the period increased to US$268.9 million, up from US$215.4 million in Q1 2025.

The Group continued to maintain a strong capital position, with a capital adequacy ratio of 23% as at 31 March 2026, in line with the Bank’s long-term capital management targets.

During the quarter, Afreximbank continued to demonstrate its counter-cyclical role in response to external shocks. In March 2026, the Bank launched a US$10 billion Gulf Crisis Response Programme to help member countries mitigate adverse spillover effects from the Gulf crisis. The facility is designed to support liquidity, stabilise trade and payments, and address supply-side disruptions, particularly in energy, tourism and aviation, fertilisers, food and other critical imports.

The Bank also continued to deploy targeted financing and advisory support to strengthen trade flows, industrial capacity and economic resilience across Africa and CARICOM. Regional integration received further momentum following South Africa’s ratification of the Bank’s Establishment Agreement in February 2026, bringing one of Africa’s largest and most diversified economies into the Bank’s membership and giving the Bank full continental coverage.

Highlights of the results for Afreximbank Group are shown below:

Financial Performance Metrics

Q1’2026

Q1’2025
Gross Income (US$ million)

874.1

784.9
Net Income (US$ million)

268.9

215.4
Return on average equity (ROAE)

13%

12%
Return on average assets (ROAA)

2.62%

2.38%
Cost-to-income ratio

19%

16%

 

Financial Position Metrics

Q1’2026

FY’2025
Total Assets (US$ billion)

41.7

42.3
Total Liabilities (US$ billion)

33.0

33.9
Shareholders’ Funds (US$ billion)

8.6

8.4
Non-performing loans ratio (NPL)

2.40%

2.43%
Cash/Total assets

14%

14%
Capital Adequacy ratio (Basel II)

23%

          23%

 

Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:

“Against a backdrop of continued global uncertainty, heightened geopolitical risks and tight financial conditions, the Group delivered a resilient first-quarter performance, underpinned by disciplined balance sheet management, sound asset quality and strong capital and liquidity buffers. The growth in net interest income and profitability demonstrates the strength of our operating model and the continued relevance of our mandate. Our swift launch of the US$10 billion Gulf Crisis Response Programme further underscores Afreximbank’s counter-cyclical role in supporting member countries during periods of disruption. We remain focused on stabilising trade flows, easing liquidity pressures and advancing the industrial and economic transformation of Africa and the Caribbean.”

Distributed by APO Group on behalf of Afreximbank.

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Via Licensing Alliance Expands Voice Codec Program with New Licensee, New Licensors, Publishes Comprehensive Pool Rate Structure

Published

15 hours ago

on

May 22, 2026

By

Via Licensing Alliance

SAN FRANCISCO, CALIFORNIA, UNITED STATES – Media OutReach Newswire – 22 May 2026 – Via Licensing Alliance (Via) today announced continued momentum for its Voice Codec patent pool, including the addition of a new unnamed licensee and new licensors, NovaVoice Limited and Cordial IP, further growing the program’s patent stack and market penetration from its initial five, large global licensors.

The addition of the new licensee, unnamed at this time, reflects growing industry adoption of the collaborative licensing pathway Via’s Voice Codec program creates for accessing IP rights to critical voice technologies. This addition reflects a growing market uptake of advanced voice technologies, including EVS and IVAS, driven by rising demand as 5G and 5G-Advanced technologies are adopted worldwide.

Additionally, Via continues to prioritize transparency and has published its full rate structure for the Voice Codec pool, providing further clarity and predictability for implementers and to the broader market. For implementers, the full rate structure allows for complete visibility as they consider the appropriate royalty structure to choose from to meet their product level costs, evaluate future growth paths for their product lines, or plan their geographical expansion plan needs. This level of disclosure not only reduces uncertainty in licensing decisions but also enables more consistent benchmarking, reinforcing confidence in fair, market-aligned SEP licensing practices. The program’s royalty rates are listed on Via’s website at https://www.via-la.com/licensing-programs/voice-codec/#license-fees.

The addition of the new licensors indicates increased interest from patent holders in licensing their voice technology SEPs through highly efficient, aggregated licensing vehicles such as patent pools. Future growth in both the licensor list and the number of patents consolidated through the pool license will continue to enhance the value of the Voice Codec License for implementers. Via’s Voice Codec program licensors are listed here: https://www.via-la.com/licensing-programs/voice-codec/#licensors.

Via’s Voice Codec pool covers Enhanced Voice Services (EVS), which supports voice communications across more than one billion and growing active devices globally, as well as Immersive Voice and Audio Services (IVAS), which will play a central role in next-generation voice and spatial audio applications.

“We are pleased to welcome these new entrants to our pool, which signal continued growth and momentum our Voice Codec program,” said Kevin Mack, President of Via Licensing Alliance. “This pool license offers strong value relative to other market options and represents the only collaborative licensing solution for EVS and IVAS technologies, making it a smart and efficient pathway for companies seeking to license critical voice capabilities.”

EVS remains a foundational technology for high-quality voice communications in 5G and 5G-Advanced networks, with adoption continuing to expand as 5G, 5G-Advanced and future network iterations reach global scale. As spatial audio and advanced voice technologies expand into 6G and a broader range of non-cellular devices, the importance of IVAS technologies is expected to increase, with Via’s pool offering an early and effective licensing pathway.

For more information about the Voice Codec patent pool, including information for prospective licensees, please visit https://www.via-la.com.

About Via Licensing Alliance:
Via Licensing Alliance is the collaborative licensing leader, dedicated to accelerating global technology adoption, fostering participation, and generating return on innovation with balanced licensing solutions for innovators and manufacturers of all sizes around the globe. Via has operated dozens of licensing programs for a variety of technologies. Via is an independently managed company owned by industry-leading participants with over 25 years of intellectual property licensing leadership. For more information about Via, please visit https://www.via-la.com.

 

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Joint statement welcoming the Republic of Togo’s announcement on Visa facilitation for African nationals

Published

16 hours ago

on

May 22, 2026

By

Togo

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda

LOMÉ, Togo, May 21, 2026/APO Group/ –The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcome the announcement by the Government of the Republic of Togo, under the leadership of H.E. Faure Essozimna Gnassingbé, President of the Council of the Republic of Togo, regarding measures to facilitate visa-free entry for all nationals of African States holding valid passports, as announced by the Minister of Security on 18 May 2026.

The announcement was made in Lomé on the sidelines of Biashara Afrika 2026, the continent’s premier trade and business platform, which has brought together policymakers, private sector leaders, investors, and stakeholders from across Africa to advance dialogue on intra-African trade, investment, and regional integration.

Throughout the engagements, participants underscored the importance of facilitating the movement of African citizens, entrepreneurs, and investors as an important enabler of intra-African trade and economic cooperation. Against this backdrop, the announcement reflects the growing continental momentum towards strengthening connectivity and deepening African integration.

The AfCFTA Secretariat and Afreximbank, to which Togo is a State Party and a Member State, envision a continent where goods, services, capital, and people move more freely across borders in support of an integrated African market. Measures that facilitate mobility and connectivity continue to contribute towards advancing the broader mandate of both institutions; the attainment of the aspirations of Agenda 2063.

The AfCFTA Secretariat and Afreximbank commend the Government and people of the Republic of Togo for hosting Biashara Afrika 2026 and for their continued commitment to advancing Africa’s economic integration agenda.

Distributed by APO Group on behalf of Afreximbank.

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