Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, has achieved EDGE certification for its Ibis Plateau and Marcory properties, both located in Abidjan, Côte d'Ivoire. Obtained less than 12 months after the acquisition of these assets, this certification demonstrates Kasada's strong commitment to developing a hospitality platform that meets the most stringent international ESG standards.
An innovation of IFC, a member of the World Bank Group, EDGE is a green building standard and a certification system that empowers building professionals to quickly and easily determine the most cost-effective ways to build green based on occupant behavior, building type and the local climate. Available worldwide, EDGE was created in response to the need for a measurable solution to prove the financial case for building green and to help jumpstart the mainstreaming of sustainable real estate.
In order to obtain these certifications, Kasada conducted an audit and detailed studies of the buildings built in the 1980s. New improvements carried out have reduced energy and water consumption by 35% and 22% respectively for Ibis Plateau, and 38% and 28% respectively for Ibis Marcory. The measures implemented by Kasada have made it possible to avoid producing 583.07 tonnes of CO2 per year. This program also entailed large investments in staff training, who now integrate energy management into their daily activities.
Olaf Schmidt, IFC's Manager for Real Estate, Hotel & Retail, Health & Education and Manufacturing Investments in Africa said: "Now is the time to accelerate investments in green building that lay the foundation for a sustainable building sector. The hospitality sector has an important role to play and we are glad to see Kasada's work in getting more of the hotels in its portfolio to be EDGE certified."
Olivier Granet, Managing Partner and CEO of Kasada, said: "Kasada's goal is to push the boundaries of hospitality in sub-Saharan Africa by becoming the regional benchmark for environmental, social and governance standards. We strive to ensure that our operations have as little environmental impact as possible and benefit local communities in a sustainable way. Obtaining the EDGE certification is a first step in this direction, but we will not stop there. We are therefore very pleased to welcome to our platform an experienced professional, who shares our values, as our new Head of ESG : Mokgadi Maunatlala. She will be crucial in bringing our vision to life and in positioning Kasada as a game changer in this industry."
Other hotels owned by Kasada are currently at an advanced stage of the audit process and should be EDGE certified by the first quarter of 2022. Refurbishment programmes over the next years will enable Kasada to improve further its portfolio's environmental efficiency and resilience to climate change, whilst also creating new living centers for local communities.
About Kasada Capital Management
Kasada Capital Management is an independent investment platform within the Kasada group, dedicated to hospitality investments in Sub-Saharan Africa. The firm was launched in 2018 with the backing of Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, and Accor, a world leading augmented hospitality group.
Kasada Capital Management's strategy spans all segments from economy to luxury and targets both greenfield and brownfield projects. The Kasada group's hotels are operated under the banner of Accor's wide range of internationally renowned brands. By investing in a region which offers robust growth opportunities, the Kasada group aims to deliver both attractive risk-adjusted returns to investors, and a long-term positive impact on local economies.
In April 2019, the Kasada group held a close on its maiden fund, Kasada Hospitality Fund L.P., with equity commitments of over USD 500 million
For more information, visit www.kasada.com and follow us on LinkedIn.
These press releases may also interest you