"We did a lot of work 30 to 40 years ago, but now we see this as a second phase of growth, " says Patrick Fitzgibbon, who leads Africa development for Hilton.

WSJ: Hoteliers Race to Expand in Africa

The bulk of Mr Osborne's plans will not be announced until November in the second phase of the government's growth review.

BBC: George Osborne extends council tax freeze