Abidjan, Côte d’Ivoire, March 10, 2025 – To support affordable housing development for thousands of people in Côte d’Ivoire, IFC today announced its first direct financing for a property developer in West Africa through a local currency financing package for Douja Promotion Groupe Addoha Côte d’Ivoire (Addoha CIV).
IFC will loan Addoha CIV, a subsidiary of Moroccan-based real estate developer Douja Promotion Groupe Addoha, $27 million equivalent in West African CFA francs to support the construction and delivery of about 5,600 affordable housing units in the Greater Abidjan area. The total includes 4,600 houses for lower-middle to middle-income buyers and up to 1,000 houses for lower-income buyers.
More than 23,000 people are expected to benefit from the quality housing, helping Côte d’Ivoire address its large housing shortage, especially in the Greater Abidjan region. This shortage is exacerbated by rapid population growth, urbanization, and migration to Abidjan, while the supply of housing units remains limited.
Anas Sefrioui, President of Douja Promotion Groupe Addoha, said “The partnership with IFC enables the acceleration of urban development initiated by Addoha Côte d’Ivoire in the urban municipality of Attecoubé, specifically in Locodjoro. In this way, we strengthen our commitment to delivering high-quality and affordable housing to meet the needs of Ivorian families. Together, we are building a better future.”
Sérgio Pimenta, IFC’s Vice President for Africa, said, “This investment demonstrates IFC’s commitment to supporting sustainable development and improving living conditions in Côte d’Ivoire. By mobilizing private investment, we are helping bridge the growing housing supply gap for low- and middle-income households and contribute to the country’s socioeconomic development. It is also a prime example of how Moroccan firms, like Addoha Group, leverage their competitive edge to drive development and economic growth in Africa, underscoring IFC's commitment to South-South investments and regional integration.”
IFC's investment is supported by the by the International Development Association (IDA) Private Sector Window Local Currency Facility (PSW LCF), making it possible to provide a longer-tenured local currency loan.
As of January 2025, IFC has an active investment portfolio of $761 million in Côte d’Ivoire, focusing on focus on housing, agricultural value chains, infrastructure (including digital), capital market development, health, creative industries, and access to finance for SMEs.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About the IDA Private Sector Window
The International Development Association’s Private Sector Window (IDA PSW) was launched in 2017 to catalyze private sector investment in the poorest and most fragile countries. Recognizing the key role of the private sector in creating jobs and promoting economic transformation, the window provides a source of co-investment funding and guarantees to de-risk private investments supported by the World Bank Group’s International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). The IDA PSW is an option when there is no commercial solution and the Bank Group’s other tools are insufficient. For more information, visit: http://ida.worldbank.org/psw
About Douja Côte d’Ivoire
DOUJA PROMOTION GROUPE ADDOHA CÔTE D’IVOIRE is a leading pan-African real estate developer specializing in social, affordable, mid-range, and high-end housing. Since 1988, the group has delivered nearly 300,000 homes in Morocco and has over 135,000 units under development across Africa (Côte d’Ivoire, Senegal, République de Guinée, Cameroun, Gabon, Ghana, Togo). Operating in key markets, ADDOHA collaborates with governments to meet housing needs while fostering local economies. Known for quality and sustainability, ADDOHA adapts international standards to local contexts. With 15 ongoing projects in Côte d’Ivoire, the group remains a key player in Ivorian urban development. Visit: www.addohaafrique.com
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