On July 15, 2022, the Multilateral Investment Guarantee Agency, a member of the World Bank Group issued a guarantee totaling US$18 million to Condor Kite WDH Ltd, a subsidiary of Kasada Hospitality Fund LP (Kasada) of Mauritius, for its equity investment into Safari Hotels Limited in Windhoek. The MIGA guarantee will cover the investment against the risks of losses emanating from an event of Expropriation, Transfer Restriction, and/or War and Civil Disturbance for a period of up to 15 years.
Kasada's investment consists of the acquisition of an established Safari hotel complex and conference center located in Windhoek, Namibia, and its subsequent refurbishment and conversion into a dual branded 199-key Ibis Styles and 215-key Movenpick hotels (both Accor Hotel Brands), along with an upgraded Conference Center, the largest in Namibia. The hotel complex is 10 minutes away from the city center, close to commercial districts and adjacent to the regional Eros airport, which has direct flights to some of the major Southern African cities.
As stated by the MIGA, Kasada is an independent investment platform dedicated to investing in the hospitality sector in Sub-Saharan Africa, advised by Kasada Capital Management. Kasada was launched with the backing of Accor, a French multinational company and one of the world's largest hospitality groups, and Qatar Investment Authority, Qatar's sovereign wealth fund. Over the next few years, Kasada intends to build and acquire a significant portfolio of hotels across Sub-Saharan Africa.
Condor Kite WDH Ltd is a subsidiary of Kasada Hospitality Fund LP.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Accor S.A.||Investor||Industry and Trade|
|-||-||-||-||Kasada Capital Management||Parent Company||Industry and Trade|
Kasada Capital Management:
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