Africa Go Green Fund (AGG), managed by Cygnum Capital, has commited €15m debt facility to Kasada’s green-certified hotel development in Abidjan’s Angré district, Côte d’Ivoire.

Laurène Aigrain, Managing Director of Africa Go Green Fund, said: “AGG is proud to support this greenfield project, which is a high-impact development that will foster local economic development. This collaboration reinforces AGG’s ambition to fund green buildings that deliver both profitability and sustainability. By investing in this type of projects, AGG continues to demonstrate its ambition to create long-term value for communities, the environment, and investors alike. Kasada is truly leading the charge on sustainable and environmentally conscious hospitality offerings across the continent.”

Kasada is an independent real estate private equity platform dedicated to the hospitality sector in Africa, advised by Kasada Capital Management, part of the Kasada group.
 
The facility will provide finance for a greenfield hospitality development in Abidjan, Côte d’Ivoire. 

The project, to be located in the Angré district, will feature a hotel  with a total of 170 keys, co-working facilities under the Wojo brand, and a dedicated MICE (Meetings, Incentives, Conferences, and Exhibitions) venue.

This will be the first international branded hotel in the Angré area and Kasada’s 5th hotel in Abidjan, strengthening its footprint and commitment to deliver sustainable best-in-class hospitality in the Abidjan market.

The development will be EDGE-certified,  supporting green building practices and long-term urban sustainability. It is also expected to create significant employment and provide quality accommodation and business infrastructure in an underserved but growing district of Abidjan.

David Damiba, co-CEO and Managing Partner of Kasada, said: ”We are excited to develop these EDGE-certified hotel in Angré in partnership for the first time with Africa Go Green Fund. Kasada leads the way in delivering sustainable and innovative best-in-class hospitality to meet the under-served demand in the Abidjan market. Côte d’Ivoire as a whole is an important investment destination for us, and we already own 5 hotels in Abidjan, operated by the Pullman, Novotel and Ibis brands Throughout the development, we are investing in energy-efficient infrastructure to mitigate greenhouse gas emissions. This will enable the hotel, once open, to reduce its electricity and water consumption and embodied carbon in materials – demonstrating measurable environmental gains alongside economic impact.”