Summary: Zimbabwe's hotel group Meikles Africa will spend $51 million by the end of this month improving the current state of its hotels and supermarkets with the goal of making profits by the end of this year. Many of these types of companies are just now starting to rebuild their companies after over a decade of economic collapse. This money will go to refurbishing the hotels and the supermarket. This will hopefully help the company and its shareholders begin to make a profit again. The hotel occupancies have risen for around 17% to 41%, and the supermarket is now just barely breaking even.
Opinion: This is very good for the company and the shareholders, and this is very good for Zimbabwe's economy. It is good that the managers are working so hard to improve their hotels and the supermarket. Having companies like this improving their profits will massively improve the state of Zimbabwe's economy.
http://www.reuters.com/article/idUSLDE64I1YN20100519
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