Kukula Capital is pleased to announce the successful closing of a capital raise for Latitude Fifteen Degrees Hotel, one of Lusaka’s most distinctive hospitality properties. Kukula acted as sole financial advisor on the transaction, supporting the hotel’s expansion in the Zambian capital.
The transaction
The financing, provided by XSML Capital in partnership with The Latitude Hotels Group, marks a significant milestone for Zambia’s hospitality sector — bringing institutional capital into a Lusaka-based property at a time when the city’s commercial and professional services economy is growing rapidly. Kukula advised on the full transaction process, from structuring and investor identification through to negotiation and close.
About Latitude Fifteen Degrees
Latitude Fifteen Degrees Hotel occupies a distinctive position in Lusaka’s hospitality market — offering a level of design quality and service that appeals to the business traveller and the growing base of regional professionals who pass through the city. As Zambia’s capital continues to develop as a hub for investment, advisory, and professional services activity across the region, demand for well-positioned, high-quality accommodation is rising in line with it.
XSML Capital
XSML Capital is a specialist investment manager focused on African SMEs, with a track record of providing growth capital to businesses across the continent. Their participation speaks to the quality of the asset and the conviction of institutional investors in Zambia’s hospitality sector fundamentals.
Kukula’s role in the transaction ecosystem
This transaction reflects the breadth of Kukula Capital’s advisory capabilities — spanning financial structuring, investor access, and transaction execution across sectors. The hospitality sector sits at the intersection of several of Zambia’s strongest growth themes: urbanisation, business travel, regional connectivity, and the growth of the professional services economy. We are proud to have helped bring this transaction to a successful close.