TRANSSION eyes hospitality sector
TRANSSION Manufacturing PLC, the maker of TECNO mobile phone is set to launch a famous Chinese brand-name hotel –IVY Hotel— in the capital.
The hotel is set to be inaugurated in Addis Ababa near haya hulet inside a rented building early next year. According to sources within the company, the hotel is set to have a superior design and will employ approximately 60 people, with an investment of USD 1 million.
The shareholders are to be Sunmei from Hongkong, China and a local partner, Levi Girma, a shareholder of TRANSSION, son of celebrated aviation personality Girma Wake.
For the company, this is seen as a strategy to help collect forex which has been a recurring problem for its growth within the continent. Earlier this week, it celebrated a milestone where it was able to export products worth USD 115 million last year alone, inside its mega factory located in Ethiopia’s ICT village in the outskirts of the capital.
TRANSSION, known for its brands such as its signature TECNO, is also known to produce itel and Infinix brands. It has also launched its Syinix brand in recent months, with household goods such as electronics at an affordable price targeting the local market.
It has set its target of producing 2 million devices every month, from the 1 million it currently produces.
The Ethiopian manufacturing facility is to be a hub for the region and complement other facilities located in Shenzhen, China and one in Noida, India.
The company has plans to open chain of four-star hotels in Ethiopia in the next five years; targeting business people at affordable prices that are economical and redefine the middle-class hotels.
The company was most recently featured on CNN Africa, as one that has “left global players like Samsung and Apple trailing in its wake in a continent that is home to more than a billion people”.