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Sapphire Addis Hotel will go operational in few days on May 13, 2017. The hotel situated in Ethiopia’s capital in a location commonly known as Medhanialem Church. It took the hotel 6 years to reach 96 percent completion rate.

Saro-Maria, a four star hotel, was inaugurated on Tuesday, 30 July, 2013. in Addis Ababa, Ethiopia. The city is seeing growing demand for hotel accommodation. Addis Ababa has only 110 hotels with fewer than 5,500 rooms. The city’s top 10 hotels currently show occupancy rates in excess of 90 percent, Capital reported.

“Clearly, this new facility has been created as a result of an increasing potential for mid-scale flag properties, after the emergence of brands like the Sheraton, Hilton, Marriot and Radisson Blu secured footholds in the market”, Saro-Maria’s general manager, Samuel Omalla told Capital.

The departing Saudi Arabia’s Ambassador to Ethiopia Abdulbaqi Ahmed Ajlan expressed the growing interest of Saudi investors to do business in Ethiopia when he took leave of Ethiopian President Mulatu Teshome yesterday, on May 21, 2015, Ethiopian News Agency reported.

Schulze Global Investments Limited, an American investment firm, has concluded the acquisition of 45 percent stake in MB Plc, producer of Family Milk and other dairy products.

The Ministry of Mines and Public Procurement and Property Authority revealed that scrap metal, out of service vehicles, and machineries stored in Federal Government offices would be sold exclusively to steel industries. The two institutions issued a joint press release on the disposal of unserviceable assets accumulated by Government institutions.