Kasada enters into strategic partnership with IFC

Kasada Hospitality Fund has entered into a partnership with the IFC, in which the latter will extend up to USD 160mn of debt funding to Kasada to support the hospitality sector. An initial USD 80mn senior loan package provides capital expenditure to refurbish and improve the properties in order to achieve higher operating efficiencies and meet ESG goals.

The loan, in collaboration with Proparco as a parallel lender, will finance Kasada’s acquisition of eight Accor hotels which operate under the Pullman, Novotel and Ibis brands. The hotels are in Abidjan, Ivory Coast (4), Senegal (3) Douala Cameroon (1).