PROJECT

Projects

Summary of Investment Information

Project Number

52379

Company Name

Asmara Holdings Limited

Date SPI Disclosed

Jul 13, 2026

Country

Zambia

Region

Africa

Projected Board Date

Sep 15, 2026

Environmental Category

B - Limited

Status

Pending Approval

Last Updated Date

Jul 14, 2026

Department

Regional Industry - MAS Africa

Industry

Tourism, Retail and Property

Sector

City and Business Hotel

Project Description

  The proposed IFC investment is an up to US$50 million A Loan to Zebra Manufacturing Limited (“Zebra Manufacturing”) and Future Africa International Trading FZE (“Future Africa”) (together, the “Borrowers”) to finance (i) the development of a Hilton-branded hotel in Lusaka, Zambia (“Hilton Lusaka”); and (ii) development of a warehousing facility in Djibouti (“Djibouti Warehouse”) (together, the “Project”).                                                 

Associated Advisory Engagement

 In Zambia, IFC is providing EDGE Advisory services to Zebra Manufacturing to facilitate EDGE certification for a Hilton-branded hotel in Lusaka. In Djibouti, IFC is advising Future Africa on project preparation activities to enhance the bankability of a warehousing and grain-storage investment. At the corporate level, IFC’s Financial Management Advisory program is assisting Asmara Group in strengthening financial reporting and transparency to support sustainable growth and investment readiness.        

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation