With the announcement today of the acquisition of BON Hotels by ONOMO Hotels, the hospitality industry on the African continent is set for a major shake-up. ONOMO Hotels has acquired a 60,1% controlling stake in BON Hotels.
With a number of multi-billion economic initiatives in the pipeline, Richards Bay is gearing up for an increase in economic development, job creation and business tourism.
Three new projects have been announced for the Richards Bay Industrial Development Zone (RBIDZ), the largest of which is a Saudi-SA R147-billion oil refinery set for 2028. The other two projects include Rio Tinto’s proposal to invest R6.5 million into Richards Bay Minerals and a R28-million feasibility study by Transnet to transform Richards Bay into a natural gas hub.
Ethiopia’s return to peace and economic prosperity is heralding a new era in the country’s development, with scores of businesses planning new projects there, including well-known South African hospitality brand BON Hotels.