Investment group AfricInvest said it will inject €17.3 million in the capital of Azalaï Hotels, a hospitality group present in many West African countries, with a total of 1,000 rooms.

The investment came through the AfricInvest III LLC fund. It aims to help the group in its expansion across the region, but also boost its capacities and improve its services.

Azalaï Group wishes to exceed a total capacity of 1,600 rooms through the extension and modernisation of its existing hotels and by rapidly opening new hotels in West Africa (Conakry, Dakar, Lomé and Niamey). “In addition to AfricInvest’s financial support, we plan on contributing to the growth of Azalaï in the hospitality sector,” said Cheikh Souleymane Diallo, Senior Director at AfricInvest.

Azalaï Hotels is the third investment of the Africinvest III LLC fund, after that in car retailer Salvador Caetano Auto Africa which is present in about 15 African nations across the Western, Central and Southern regions. The fund also invested in Kenyan firm Silafrica which makes plastic packaging, and impacts various East African markets.

Idriss Linge