• IFC considering $15M loan to refinance Sheraton Nouakchott project

• 200-room hotel opened in phases October 2025 after pandemic delays

• Hotel could employ up to 300 workers, 34% women

The International Finance Corporation (IFC), the World Bank Group’s private-sector arm, is considering a $15 million loan to Grands Hôtels de Mauritanie (GHM), a company majority-owned by Mauritania’s National Industrial and Mining Company (SNIM).

The financing would refinance a bridge loan used to complete construction of the new Sheraton Nouakchott. The 200-room hotel began opening in phases in October 2025 after several delays linked to the COVID-19 pandemic. In January, the establishment recorded an occupancy rate of about 20%.

Beyond refinancing the project, the investment could also affect local employment. The hotel is expected to employ around 200 people, about 34% of them women. At full capacity, the workforce could reach between 250 and 300 employees.

A tourism sector still underdeveloped despite strong potential

The investment is awaiting approval, the IFC said. If approved, the project could strengthen Nouakchott’s position as an emerging business tourism destination in West Africa and introduce higher environmental and social standards to the Mauritanian hotel sector.

Mauritania’s tourism offering remains limited despite significant potential. In 2023, the country welcomed about 4,000 international tourists, far below levels seen in the 1980s and 1990s when the Mauritanian desert attracted thousands of travelers each year.

According to the International Monetary Fund, the tourism sector has returned to growth since 2021. Tourism contributed about 1.8 billion ouguiyas ($45 million) to GDP in 2021 and could reach around 2.2 billion MRU by 2025.

However, under the Action Program of the second Strategy for Accelerated Growth and Shared Prosperity (PA2-SCAPP), the additional GDP generated by tourism could remain limited. In a high-impact scenario, the IMF estimates it at about 0.15 billion MRU per year.

Before the investment can be finalized, GHM must implement a detailed environmental and social action plan by the end of 2026, according to the IFC. This plan must include appointing a dedicated manager and strengthening grievance management mechanisms.

Sandrine Gaingne