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homme, travaux
To finance the construction of Azalaï Hotel Dakar, PROPARCO has allocated a loan to the Société Sénégalaise de Promotion Hôtelière, the Senegalese subsidiary of Azalaï Pan-African Group, a longstanding partner of PROPARCO. This new 4* hotel with over 200 rooms will increase hotel accommodation and the attractiveness of the Senegalese capital.
Client presentation

The Malian AZALAI Group came about in 1994 with the takeover of the Grand Hôtel de Bamako by Mr. Mossadeck Bally. The Group has pursued a diversification and regional expansion policy via the construction and acquisition of new units in Mali, Burkina Faso, Guinea-Bissau, Benin, Mauritania and Côte d’Ivoire.
With its 8 hotels and 846 rooms, Azalaï Hôtels is now the leading African hotel group of WAEMU.
The Group, which has been a client of PROPARCO since 2015, is pursuing its diversification policy, which will lead to the opening of 4* hotels in Dakar, Conakry and Ouagadougou from now until 2021.

Project description

Loan to SOCIETE SENEGALAISE DE PROMOTION HOTELIERE, from AZALAI Group, to finance the construction of the 4* hotel with 202 rooms located in the Fann neighborhood, near the Dakar business center.

Project impact

The project will contribute to SDGs n° 9 (Industry, innovation, infrastructure), 12 (Responsible consumption and production) and 17 (Partnerships for the Goals).
It will also contribute to:

  • Speeding up the transfer of know-how between international and local contractors;
  • Creating and maintaining direct jobs (200 jobs planned in 5 years) and indirect jobs (some 600 jobs expected with suppliers in 5 years) and vocational training (some 200 people trained).

In terms of climate commitments, the project plans to install solar water heating panels and explore innovation in terms of cogeneration and energy recovery.

PROPARCO is also expecting an improvement in value for money in Dakar’s hotels and a knock-on effect on price reductions thanks to the development of hotel accommodation.

07/03/2018
Date of signature of the project
Senegal
Location
Financing tool
12 500 000 Euros
Amount of funding
Loan of EUR 12.5m
Financing details
Société Sénégalaise de Promotion Hotelière
Client
CES