Ghion Addis removed from Sale List

Ghion Addis Hotel

Addis Ababa, Ethiopia – An order from the Prime Minister office removed Ghion Addis Hotel from the Privatization and Public Enterprises Supervising Agency (PPESA) list of companies to be switch off to the private investors.

The PPESA floated a tender for the privatization of Ghion hotel reputedly but it cannot manage to get actual buyer for the hotel.

In 2011 the agency had made a joint venture agreement with a German company Dnknesh Dnknesh Vermogenveeravltung (GMBH), represented by Aklile Berhan Mekonen, who claims to be a descendant of the Ethiopian royal family, to give up 80pc ownership for 8.3 billion Br. However Aklileberhan did not appear at the signing contract, having failed to make the 3.5 billion Br advance payment for the acquisition of the Hotel.

After the termination of that deal the hotel was under the Agency’s list to be privatized but it gets no offer from the bidders who bought the bidding document of the Hotel.

Ghion Addis was built in 1951 and lays over 12 ha of land. The hotel is located at Ras Desta Damtew Street.

Source: Addis Fortune