PROJECT

Projects

Environmental & Social Review Summary

Project Number

48242

Company Name

GRAND HOTELS DE MAURITANIE SA

Date ESRS Disclosed

Mar 4, 2026

Country

Mauritania

Region

Africa

Last Updated Date

Jun 11, 2026

Environmental Category

B - Limited

Status

Pending Signing

Previous Events

Approved : Jun 10, 2026

Sector

City and Business Hotel

Industry

Tourism, Retail and Property

Department

Regional Industry - MAS Africa

Project Description

The proposed investment is a US$15 million IFC A Loan to Grands Hotels de Mauritanie SA (“GHM” or the “Company”). GHM is a special purpose vehicle established to develop a 200-key Edge-certified upper upscale hotel in Nouakchott (the "Hotel") and operated by Marriott International (the “Operator”) under the Sheraton brand (the “Project”). The majority shareholder of GHM is Société Nationale Industrielle et Minière (“SNIM” or the “Sponsor”).

Proceeds of the proposed US$15 million IFC A Loan will be used to settle an existing bridge loan which was raised by GHM to complete the development of the Hotel. The Hotel features restaurants, swimming pools, and shops. The design and construction of the Hotel were managed by GHM, in collaboration with the Operator. Construction of the Hotel started in 2017; however, due to the COVID-19 pandemic, construction was halted and subsequently restarted in 2023. The construction of the Hotel was completed in September 2025 and had a soft opening in October 2025. In January 2026, the Hotel had a 20% occupancy rate.

Overview of IFC's Scope of Review

IFC’s appraisal focused on a comprehensive review of the available environmental, health, and safety (EHS) related documents presented by GHM. These documents included life fire safety design, feasibility studies, and technical specifications for major equipment such as boilers and the wastewater treatment plant. Additionally, the sustainability policies of SNIM were reviewed. The Operator’s publicly available reports and global policies on E&S available at Marriott International Serve360 website were also reviewed. Human Resource manual and Internal Rules and employment contract template specific to this hotel were also reviewed.

The appraisal process included a site visit to the project location in October 2024. During this visit, interviews were conducted with the Company’s senior management, project manager, and the hotel’s General Manager. IFC also held discussions with several field workers from two different contractors involved during the construction phase the hotel. Additional meetings were held with the Hotel’s General Manager and Human Resources Manager in January 2026.

IFC team conducted pre-appraisal contextual risk screening, including reputational and labor risks specific to the company and the sector in preparation of the E&S appraisal. A contextual risk assessment on labor issues at the country and sectoral level was additionally conducted. Key risks were identified on short-term contracts, shortage of skilled workers for the hotel sector and non-respect of working hours. IFC’s E&S appraisal team included a labor specialist to assess issues associated with labor relations and practices.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan