PROJECT

Projects

Summary of Investment Information

Project Number

52379

Company Name

Asmara Holdings - Obligor Group (Ltd)

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

Oct 23, 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