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Kasada Capital Management: Strategic Partnership to Support the Hospitality Sector in Sub-Saharan Africa
The International Finance Corporation (IFC) & Proparco to finance Kasada's first acquisition
Kasada has secured a strategic partnership with the International Finance Corporation (IFC) to create a large hotel portfolio in Sub-Saharan Africa through a US$160 million debt facility, of which a US$80 million senior loan was disbursed by IFC and Proparco to finance the first transaction of the fund.
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.
About Kasada Capital Management
Kasada Capital Management is an independent investment platform within the Kasada group, dedicated to hospitality in Sub-Saharan Africa. The firm was launched in 2018 with the backing of Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, and Accor, a world leading augmented hospitality group.
