Seychelles secures $8.7 million ADFD funding for social housing
Project includes 80 housing units for low-income families
Housing prioritised amid flood damage and rising demand
Seychelles and the Abu Dhabi Fund for Development (ADFD) signed an $8.7 million financing agreement for a social housing programme on Wednesday, Feb. 4, 2026, the Seychelles presidency said. The agreement was signed during the World Government Summit in Dubai from Feb. 3 to 5, 2026.
The project involves the construction of 80 housing units for low-income families, including 32 two-bedroom units and 48 three-bedroom units, with access to basic infrastructure and services.
The programme aims to support inclusive economic and social development by strengthening Seychelles’ social housing sector. It is intended to improve living standards, meet rising housing demand and promote more balanced urban development, the statement said.
Seychelles, an archipelago northeast of Madagascar, has a population of more than 121,000, according to World Bank data. In 2023, the country declared a state of emergency after heavy rains triggered flooding and landslides, causing significant damage to property and infrastructure.
To address these challenges, the government allocated the largest share of its 2024 investment budget to land and housing. This represented 22.5% of the total, or 335.4 million Seychelles rupees ($23.7 million), according to official figures. Of that amount, 9.5 million rupees were earmarked for the construction of 32 social housing units.
As part of efforts to secure financing for housing projects, Seychelles signed a $15 million agreement with the Saudi Fund for Development in 2023. The deal is intended to finance the construction of 172 social housing units across seven districts between 2024 and 2026, according to the Centre for Affordable Housing Finance in Africa.
Lydie Mobio
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....