#Ethiopia @AHIF_news #AHIF15 Taking the pulse of Int'l investors, Jonathan Hubbard, JLL; Salim Bitar, Rani Investment; Joram Sengendo, CDC Group; Alexandre Smertnik, Quantum Global; Xander Nijnens, JLL

#Ethiopia @AHIF_news #AHIF15 Taking the pulse of Int'l investors,
Jonathan Hubbard, JLL; Salim Bitar, Rani Investment; Joram Sengendo, CDC Group; Alexandre Smertnik, Quantum Global; Xander Nijnens, JLL

- 57% supply in the north - Egypt, Tunisia, Morocco, SA
- 2.4$ billion per yr
- Investors -
--- 16 to 25% IIR
- Target hotels - corp 56%, leisure 21%
Barriers to investment
- Projects not meeting return thresholds
- Instability
- High dev cost
- Forex access
- Lack of clear exit opportunities
- Lack of access to quality contractors

Jonathan Hubbard, JLL; Salim Bitar, Rani Investment; Joram Sengendo, CDC Group; Alexandre Smertnik, Quantum Global

Salim
- underutilized, underinvested market
- we invest in Mozambique (Maputo)
- mainly stand alone hotels, but we are diversifying to mixed use projects eg. Maputo: Appartment tower that's run by Radisson Blu.
- important to do all projects with high quality
- 3 JVs with local groups: 25-49% in equity

Alexandre
- quality asset: a combination of branding, building...
- the market comes with +s & -s
- things take more time
- local partner is involved heavily
- some banks don't lend

Joram
- Africa: Growth is there
- we want to do biz-having a dev impact
- we prefer to be significant minorities: less than 50% but higher than 10%
- we want visibility, we won't be passive
- we focus on job creation