Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, has announced that IFC will form a partnership with Kasada Hospitality Fund LP by providing senior loan financing to accelerate Kasada’s strategy of building a strong and resilient hotel portfolio across sub-Saharan Africa.
IFC will extend up to US$160 million of debt funding to Kasada, backing its plan to support the hospitality sector and instil globally recognised ESG practices in its hotels.
The first loan granted by IFC, in collaboration with Proparco as a parallel lender is to finance, on a long term basis, Kasada’s acquisition of eight Accor-managed hotels, run under the Pullman, Novotel and Ibis brands, in Abidjan, Ivory Coast (4 hotels); Dakar, Senegal (3 hotels); and Douala, Cameroon (1 hotel). Kasada completed this acquisition on December 31, 2020.
Abidjan
Lagunes
Coted-ivoire
Namibia
Windhoek
Khomas
Cameroon
Douala
Littoral
Dakar
Senegal
Ivory-coast