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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.

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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.

 

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