Nedbank Corporate and Investment Banking (Nedbank CIB), an African banking partner to corporates and institutions across the continent, has extended its sustainable finance offering to Senegal with the 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. 

The transaction will fund the further development of the Mövenpick Resort Lamantin Saly, a landmark hospitality investment on Senegal's Petite Côte.

Nedbank CIB is the corporate and investment banking unit of Nedbank, one of South Africa's largest financial institutions and a trusted partner to governments, multinationals, and development-focused investors in over 15 African countries. 

This facility is part of Nedbank's broader sustainable development finance strategy, which targets aligning at least 20% of gross loans and advances with the United Nations Sustainable Development Goals by the end of 2025. 

With over $10.3bn in commercial property lending, Nedbank CIB is Africa's largest commercial real estate financier and meaningfully supports the hospitality sector across the continent. 

"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 added.

The Mövenpick Resort Lamantin Saly 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 marks Kasada’s first sustainable finance transaction and reflects the increasing momentum behind sustainable investment in Africa’s hospitality sector. The funding supports initiatives that reduce carbon footprints, promote efficient resource management, and drive socioeconomic development.

It also supports the hospitality sector, which in turn drives GDP growth and foreign exchange earnings and thus is an important component of Senegal’s economy. This transaction reinforces Nedbank’s role in providing financial solutions that drive sustainable development and long-term economic resilience.

"Partnering with Nedbank on this transaction marks another key milestone in our sustainability journey," said Ram Lokan, Partner, 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."