June 3 2025 16:33
SOUTH AFRICA
Nedbank Corporate and Investment Banking (Nedbank CIB) which operates in numerous African markets announced the successful closure of a €19.4m sustainability-linked development and term loan for Kasada, an independent real estate private equity platform dedicated to the hospitality sector in Africa, in Senegal.
Nedbank CIB said it supported growth through innovative financial solutions by leveraging its structuring expertise and position as Africa’s largest commercial property financier, with more than R190bn ($10.3bn) in loans and advances extended to the commercial property sector. This included a focus on hospitality, where Nedbank has meaningfully facilitated the acquisition, development, and investment in the sector across the continent. The transaction with Kasada reinforced Nedbank CIB’s commitment to supporting sustainable real estate development that drives economic growth, job creation, and long-term value.
Kasada has secured sustainability-linked financing for the Mövenpick Resort Lamantin Saly in Senegal. Nedbank CIB said the investment will deliver an energy-efficient hotel that creates local jobs, builds skills, and supports local procurement while also targeting reduced food waste and, consequently, lower emissions.
This facility marked Kasada’s first sustainable finance transaction and reflected the increasing momentum behind sustainable investment in Africa’s hospitality sector. The funding supported initiatives that reduce carbon footprints, promote efficient resource management, and drive socioeconomic development. It also supported the hospitality sector, which in turn drives GDP growth and foreign exchange earnings and thus is an important component of Senegal’s economy. The transaction reinforced Nedbank’s role in providing financial solutions that drive sustainable development and long-term economic resilience.
As lender, sole arranger, sustainability structurer, sustainability coordinator, and sustainability agent, Nedbank CIB embedded 3 key performance indicators (KPIs) in the facility’s structure: food waste reduction, energy efficiency, and local procurement. These KPIs reflect the increasing demand for investment strategies that create a tangible sustainability impact.
Nedbank CIB said it would expand its presence in key African markets, but remain committed to structuring sustainable financing solutions that support sustainable development and contribute to the achievement of the United Nations (UN) Sustainable Development Goals (SDGs).
“At Nedbank CIB, we take pride in structuring bespoke property finance and sustainable finance solutions that drive sustainable economic growth across Africa,” said Catherine Hendry, Executive: Property Finance Africa at Nedbank CIB.
“This transaction highlights our ability to deliver strategic financial support that is tailored to local market dynamics. By working closely with our clients, we structure long-term investment solutions that align with their business objectives and the broader development goals of the region,” she said.
“Partnering with Nedbank on this transaction marks another key milestone in our sustainability journey,” said Ram Lokan, partner and managing director at Kasada.
“This financing enables us to further connect our investment in sustainability initiatives to our fundraising efforts and deliver impact in the communities where we operate. We are proud to be the leaders in sustainable hospitality development, which helps us drive growth while ensuring environmental stewardship,” said Lam.
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