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Sustainability in Africa’s hospitality property sector
Nedbank Corporate and Investment Banking (NCIB) has taken another significant step in advancing sustainable property finance across Africa with the successful conclusion of a €19.4 million sustainability-linked development and term loan for Kasada in Senegal. This unique transaction in hospitality property finance will drive measurable environmental and social impact in the local community.
Financing hospitality with sustainability at its core
Kasada, a real estate private equity platform focused on Africa’s hospitality sector, secured the loan to acquire and further develop a beachfront hotel in Senegal. This financing demonstrates its commitment to environmental and social stewardship and aligns with the goal of growing environmental, social and governance (ESG) investment strategies in the region.
This innovative transaction integrates sustainability-focused key performance indicators, making it a model for sustainable property finance.
- Food waste reduction – implementing machine learning initiatives to divert waste from landfills by promoting sustainable food management.
- Energy efficiency – optimising primary energy consumption to lower the hotel’s carbon footprint.
- Local procurement – supporting the Senegalese economy by sourcing certain goods and services from small-scale family farms and local businesses.
This sustainability-linked facility is a good model for the increasing demand for sustainability-focused financial solutions in Africa’s hospitality sector, establishing a baseline for future responsible investing and stewardship.
A strategic expansion into key African markets
This deal forms an important part of NCIB’s growing footprint into key African markets and marks Kasada’s first sustainable finance transaction.
'As a bank committed to structuring bespoke sustainable finance and property finance solutions, we are proud to support sustainable economic growth across Africa,' says Gerhard Zeelie, Divisional Executive of Nedbank CIB Property Finance Africa. 'This transaction not only strengthens our presence in West Africa but also showcases our ability to tailor investment solutions that meet both financial and sustainability objectives.'
This partnership builds on NCIB’s success in Côte d’Ivoire, where it structured an €18.5 million sustainability-linked term loan and revolving credit facility for Cosmos Yopougon, a flagship retail development. These deals put a focus on NCIB’s expertise in sustainable finance and its role in driving sustainable development in Africa’s property sector.
Partnerships driving ESG investment in Africa
The collaboration between NCIB and Kasada indicates a shift in African property finance, where sustainability impacts are becoming as important as financial returns.
'Partnering with Nedbank CIB marks a key milestone in our sustainability journey,' says Ram Lokan, Partner, Managing Director at Kasada. 'This financing enables us to further enhance our commitment to responsible investment and create lasting economic, social and environmental benefits in the communities we serve.'
As sustainable investment gains momentum, financial institutions have a crucial role to play in ensuring that capital flows towards projects that balance economic returns with environmental and social responsibility.
Nedbank CIB’s vision for sustainability
By leveraging its expertise in sustainable finance and property finance, Nedbank aims to pioneer further ESG investment strategies that drive meaningful change across the continent.
NCIB is redefining the role of finance in Africa’s hospitality sector and proving that sustainable finance and property finance are the future of economic development.
When you see unexpected connections, you see sustainable growth.
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Published 30 May 2024 in nedbank:cib/articles/property
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As part of an expert panel at the 2022 South African Real Estate Investment Trust Conference, Arvana Singh, Nedbank Head of Sustainable Finance Solutions, shared some thoughts on how sustainable finance in South Africa can help mitigate ESG-related risks.
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Published 30 May 2024 in nedbank:cib/articles/property
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Gary Garrett, Managing Executive of Property Finance at Nedbank Corporate and Investment Banking, participated in an expert panel at the 2022 South African Real Estate Investment Trust Conference where he reflected on the response of the property sector to recent challenges.
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Sustainability in Africa’s hospitality property sector
Nedbank Corporate and Investment Banking (NCIB) has taken another significant step in advancing sustainable property finance across Africa with the successful conclusion of a €19.4 million sustainability-linked development and term loan for Kasada in Senegal. This unique transaction in hospitality property finance will drive measurable environmental and social impact in the local community.
Published 04 Jun 2025 in nedbank:cib/articles/property
Sustainability in Africa’s hospitality property sector
Nedbank Corporate and Investment Banking (NCIB) has taken another significant step in advancing sustainable property finance across Africa with the successful conclusion of a €19.4 million sustainability-linked development and term loan for Kasada in Senegal. This unique transaction in hospitality property finance will drive measurable environmental and social impact in the local community.
Published 04 Jun 2025