Kasada Capital Management bets on growth of co-working space in Africa

By Xolisa Phillip, in Johannesburg
Posted on Tuesday, 19 July 2022 10:32

Justin Irabor, Co-founder of the Angels Among Us crowdfunding site speaks to Reuters during an interview in his office amid the spread of coronavirus disease (COVID-19) in Lagos, Nigeria April 23, 2020. Picture taken April 23, 2020. REUTERS/Temilade Adelaja

In June 2022, real estate private equity firm Kasada Capital Management and co-working space company WOJO signed an exclusive master franchise agreement to introduce the latter’s concept of co-working spaces to Africa.

The deal gives Kasada clients access to facilities, such as private offices, meeting and conference rooms, and co-working spaces combined with normal hotel services.

“This is a worldwide trend,” says managing partner and CEO at Kasada, Olivier Granet. “This is going to be even more important in Africa, where there are large corporates looking at establishing regional offices.”

“Some of these corporates have a limited number of employees and want to ensure … [the employees] have security,” says Granet. “We are focused on, and target, entrepreneurs, which is a dynamic market in Africa due to the sheer numbers of entrepreneurs.”