The International Finance Corporation (IFC), a constituent of the World Bank Group, has formalised a financing agreement to bolster affordable housing initiatives in Côte d’Ivoire. This agreement, established with the Moroccan real estate conglomerate Addoha Group, entails a loan provision of $27 million aimed at expanding access to quality and affordable housing in the country.
The signing ceremony took place in Abidjan, Côte d’Ivoire’s economic hub, with Prime Minister Robert Beugré Mambé in attendance. The funding is earmarked to facilitate the construction of approximately 5,600 affordable housing units within Abidjan, a city facing significant housing deficits due to rapid urbanisation. This development forms part of broader government-led efforts to address the housing shortfall by leveraging public-private partnerships and attracting foreign investment.
This initiative aligns with a consultancy programme launched in June 2023 between the Ivorian government and the IFC, designed to mobilise private sector investments to support the development of social and economic housing. Since the inception of the Presidential Programme for the Construction of Social and Economic Housing in 2012, more than 40,000 housing units have been delivered, marking significant progress in the country’s affordable housing strategy.
The Ivorian government has set an ambitious target to construct 150,000 housing units by 2030, with numerous projects already completed or underway within the Abidjan metropolitan area. The IFC’s loan to Addoha Group underscores the importance of foreign direct investment (FDI) and sustainable development financing in addressing Africa’s urban housing crises.
