Kasada's $17.5M Debt Financing Builds West Africa's Future of Green Hospitality

David Damiba, Kasada Co-CEO & Managing Partner

Kasada, the pan-African hospitality investment platform, has successfully closed a €15 million ($17.5 million) debt facility from the Africa Go Green Fund (AGG), managed by Cygnum Capital. This financing will support the development of a greenfield hospitality project in Abidjan, Côte d’Ivoire, reinforcing Kasada’s commitment to sustainable and environmentally conscious hospitality across Africa.

The upcoming development will be located in Angré, one of Abidjan’s fastest-growing districts. The project will feature:

• A 170-key hotel
• Co-working spaces under the Wojo brand
• A dedicated conference and exhibition center

This integrated facility aims to meet the rising demand for modern hospitality and flexible workspaces in West Africa’s economic hub.

Kasada is embedding sustainability at the core of the project by investing in energy-efficient infrastructure to reduce greenhouse gas emissions. The hotel will incorporate technologies and materials designed to:

• Lower electricity and water consumption
• Reduce embodied carbon in construction materials
• Deliver measurable environmental benefits alongside strong economic impact

“Côte d’Ivoire is a key investment destination for us, and we already own five hotels in Abidjan operated under the Pullman, Novotel, and Ibis brands,” said David Damiba, Co-CEO and Managing Partner of Kasada. “Throughout this development, we are prioritizing energy efficiency to mitigate emissions and ensure long-term sustainability.”

The Africa Go Green Fund focuses on financing projects that reduce greenhouse gas emissions and promote sustainable development across the continent. Its investment in Kasada’s project underscores the growing importance of green buildings in Africa’s hospitality sector.

“AGG is proud to support this high-impact greenfield project, which will foster local economic development while advancing sustainability,” said Laurène Aigrain, Managing Director of AGG. “By funding green buildings, we aim to create long-term value for communities, the environment, and investors. Kasada is leading the charge in delivering environmentally conscious hospitality solutions across Africa.”

This partnership between Kasada and AGG highlights a shared vision: building a resilient, sustainable hospitality ecosystem in Africa. By combining innovative design, green financing, and operational excellence, the project sets a benchmark for future developments in the region.

Source: Innovation Village