A new Hilton hotel in Marsa Alam
Hilton expands its Red Sea portfolio: Hospitality giant Hilton has signed its second property in Marsa Alam: Hilton Marsa Wazar Red Sea Resort & Spa, according to a company press release (pdf). The property will be operated under the Hilton Hotels & Resorts brand in partnership with Boulevard for Tourism Development, and will feature 282 units ranging from rooms to private villas, two outdoor pools, an indoor spa pool, a spa and a gym. Hilton now operates 14 properties in Egypt — not including the new property — under the Hilton and Conrad brands, and has 11 more in the pipeline.
This story was amended on 25 January, 2023 to clarify that Hilton currently operates 14 properties in Egypt. The new property in Marsa Alam does not count towards the properties it currently operates, as it has not yet opened its doors.
CLARIFICATION- Vodacom paid around EUR 18.71 per share to secure an additional 0.02% (49.5k shares) of Vodafone Egypt, according to figures in a bourse statement disclosing that the transaction has been executed. We previously reported that Vodacom paid a lower price of EUR 17.92 a piece, as per its original offer. It’s not clear when the price was upped. The South African subsidiary of Vodafone Group had initially sought to purchase as much as 0.05% of the company (124.6k shares) from minority shareholders in tandem with acquiring the parent company’s 55% stake in December.
Visa + Injaz Egypt partner on financial literacy program for girls: Visa is launching two new programs aimed at improving girls’ financial literacy alongside Injaz Egypt, according to a company press release (pdf). The programs will be launched in four vocational schools and aim to give girls aged 14 and above the financial skill set necessary to navigate the digital economy.
TE wants more bandwidth: Telecom Egypt has applied to the National Telecommunications Regulatory Authority (NTRA) to acquire 5 MHz of new bandwidth in the 1800-MHz frequency band, Al Borsa quotes the head of the regulator, Hossam El Gamal, as saying. The NTRA will hold an auction in the event that more than one telecom operator bids for the spectrum, he said.