Azalai Hotel SA, the Mali-based holding company (the Holding) of the Azalai Group is a private owned company whose majority shareholder is Mr. Mossadeck Bally, a Malian entrepreneur. Other shareholders include: (i) PE funds, (iii) private investors; and (iv) Azalai staff.

AHD and AHI and SGH, under which GHB is held, are three subsidiaries of the Holding.

The total Project cost for the three hotels is estimated at €82.7million. The total proposed IFC investment is a €10million Corporate C loan in the Holding that is comprised of €5 million from IFC own account and €5 million from IDA PSW BFF. The remaining balance will be provided by the shareholders and other lenders to AHD, AHI and GHB

AHD is located on the Corniche Ouest in Dakar, Senegal, while AHI is in the business center of Ouagadougou, Burkina Faso, and GHB is in the center of the District of Bamako, Mali.

Azalai is not in the extractives sector, thus this section is not applicable.                                                   

This is a Category B project as per the IFC's Policy on Environment and Social Sustainability (2012). The proposed project will have limited adverse E&S impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures. Key E&S risks and impacts of this investment include; (i) implementation of the E&S management system and organizational capacity at Group and hotel level; (ii) assurance of fair and safe labor and working conditions, including freedom of association and an internal grievance mechanism with specific focus on gender-based violence and sexual harassment; (iii) emergency preparedness and response and life, fire and food safety, and (iv) stakeholder engagement and external grievance mechanism.