New transaction to fund eco-friendly Mövenpick resort on Senegal’s Petite Côte, driving green growth and local development.
Nedbank Corporate and Investment Banking (Nedbank CIB), a key player in sustainable finance across Africa, has announced a new €19.4 million sustainability-linked loan to Kasada, a leading hospitality-focused real estate private equity platform. The funds will support the expansion of the Mövenpick Resort Lamantin Saly in Senegal—one of West Africa’s most prominent tourist destinations.
This landmark transaction marks Kasada’s first sustainable finance deal and underscores the growing momentum behind eco-conscious investments in Africa’s hospitality sector.
A Milestone in Nedbank’s Green Finance Strategy
Nedbank CIB—part of one of South Africa’s largest financial institutions—is ramping up its sustainable development finance initiatives. The bank aims to align at least 20% of its total lending with the UN Sustainable Development Goals (SDGs) by 2025. The latest deal in Senegal expands Nedbank’s reach into strategic African markets, reinforcing its position as the continent’s largest commercial real estate lender, with over $10.3 billion in property finance.
“We’re proud to provide financial solutions that support long-term economic resilience and environmental sustainability,” said Catherine Hendry, Executive for Property Finance Africa at Nedbank CIB. “This transaction highlights our ability to tailor investment structures that serve both business needs and regional development goals.”
Greener Hospitality, Stronger Communities
The Mövenpick Resort Lamantin Saly project will deliver an energy-efficient, environmentally responsible hotel that prioritizes:
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Local job creation and skills development
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Sustainable procurement and food waste reduction
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Lower carbon emissions and efficient resource use
As Senegal’s hospitality industry plays a vital role in GDP growth and foreign currency earnings, the resort is expected to deliver both economic and environmental returns.
“Partnering with Nedbank is a pivotal step in our sustainability journey,” said Ram Lokan, Partner and Managing Director at Kasada. “We’re proud to lead the charge in sustainable hospitality investment, delivering real impact in the communities we serve.”
Driving the Future of African Investment
This transaction strengthens Nedbank CIB’s commitment to responsible, future-focused investing. Already recognised as Best Bank for Sustainable Finance in South Africa (2024) by Global Finance Magazine, the bank continues to lead the way in merging profitability with purpose.
As African markets embrace ecotourism, energy efficiency, and inclusive economic growth, Nedbank’s approach serves as a model for how financial institutions can build value while protecting the planet.