Kasada Capital Management secures debt facility amounting to US$16.4M for EDGE-certified hotel in Abidjan’s Angré district

IVORY COAST – Kasada Capital Management, a leading pan-African hospitality investment platform, has closed a €15 million debt facility (approximately US$16.4 million) provided by the Africa Go Green Fund, managed by Cygnum Capital.

This financing will support the development of a greenfield hotel project in Abidjan, Côte d’Ivoire, marking Kasada’s fifth hotel in the city and the first internationally branded hotel in the Angré district.

The new hotel will feature 170 keys, co-working facilities operated under the Wojo brand, and a dedicated Meetings, Incentives, Conferences, and Exhibitions (MICE) venue, aimed at attracting regional business traffic including Small and Medium Enterprises (SMEs).

This development plans to create meaningful employment opportunities and strengthen business infrastructure in an underserved but growing part of Abidjan.

Kasada is committed to sustainability, targeting EDGE certification via investment in energy-efficient infrastructure to reduce electricity and water consumption as well as embodied carbon in construction materials.

This commitment aligns with the company’s broader strategy to promote environmentally responsible hospitality projects across Africa.

David Damiba, co-CEO and Managing Partner at Kasada, said, “This project exemplifies our commitment to sustainable, innovative hospitality developments in Abidjan’s Angré district.” 

“We are leading the way in delivering quality, green hotels to meet market demands while upholding strong environmental and social governance standards,” he added.

Kasada’s recent financing achievement follows a €19.4 million (about US$21.3 million) sustainability-linked development and term loan secured in May 2025 via Nedbank Corporate and Investment Banking (CIB), which supports the energy-efficient Mövenpick Resort Lamantin Saly in Senegal.

These transactions demonstrate Kasada’s consistent focus on sustainable growth.

Kasada’s portfolio consists of 20 hotels with over 3,250 keys across seven African countries, operated under global brands including Pullman, Novotel, Ibis, and Mövenpick.

The platform employs more than 2,000 people and continues to prioritize best-in-class hospitality and ESG practices.

The Angré hotel project strengthens Kasada’s leadership in sustainable hospitality development in Côte d’Ivoire and underscores the company’s role in supporting economic growth through responsible investment, responding to Africa’s increasing demand for high-quality, eco-friendly hospitality offerings.

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