Transaction Summary
Norsad Capital (Norsad), a Southern Africa-based impact investor and private credit provider, has successfully exited its investment in Protea Hotels Zambia, a subsidiary of Union Gold Zambia, the franchise holder for Protea Hotels by Marriott in Zambia. Established in 2000, Union Gold expanded Protea Hotels Zambia from a single lodge to a network of 11 properties, making it one of the country’s largest hotel chains and a key contributor to local economic growth and job creation, especially for women. In 2015, Norsad provided $5 million in debt financing to Protea Hotels Zambia, primarily to support the development of the flagship Protea Hotel Ndola. The initial investment aligned with Norsad’s goals to support job creation, youth employment, and gender diversity in Southern African economies. By 2023, Norsad managed a portfolio of over 170 investments which supported 15,000 jobs across Africa. This exit represents the successful repayment of the debt financing and
