08/23/2026
๐ช๐ท ๐ฉ๐ฏ ๐ฟ๐ฒ ERITREAN COMPANY SECURES $50 MILLION IFC LOAN FOR MAJOR AFRICAN PROJECTS,
Asmara Holdings, also known as Enda-Anseba, an Eritrean-owned company with business operations across Africa, has secured a $50 million loan from the International Finance Corporation (IFC) to support two major projects in Djibouti and Zambia.
The planned investments include:
๐ฉ๐ฏ Djibouti: Construction of a large-scale grain warehouse at the Damerjog Industrial Free Zone.
๐ฟ๐ฒ Zambia: Development of the planned Hilton Lusaka Pyramid Hotel, a Hilton-branded hospitality project in Lusaka, which is the construction work is underway.
The combined cost of the two projects is estimated at $97 million, with the remaining $47 million reportedly being provided directly by Asmara Holdings.
Asmara Holdings is a Dubai-based commercial enterprise owned by the Eritrean Woldeselassie (Anseba) family. The company has established business interests in several African countries, including Angola, Zambia, and South Sudan.
In Juba, South Sudan, the company owns the Pyramid Hotel, described as one of the country's largest hotels. In Zambia, it also has interests in hospitality, construction, and manufacturing, including Zebra Manufacturing Limited.
The developments highlight the growing role of Eritrean-owned businesses in major trade, logistics, construction, and hospitality investments across Africa.
Global SAT
