Public Management

Central Africa: SEG International chosen to build 5,000 social housing

Wednesday, 26 September 2018 20:49

Lebanon–based real estate group SEG International, via its subsidiary in Morocco, recently won a CFA98 billion (about $175 million) contract for the construction of 5,000 social housing in the Republic of Central Africa.

The information was revealed by the project’s proponent Jules Ndjawé, during an interview granted to Réseau des journalistes pour les droits de l’homme (RJDH) in the country. During the interview, he stressed that the said project falls within the framework of a partnership between SEG Morocco and the Central African government.

"As the proponent, my team and I found an investor, SEG to be precise", Jules Ndjawé said.  "After 18 months of negotiations, we were able to show our country’s potential. An agreement has been signed with Central African authorities and, we are completing the studies. The project’s cost is CFA98 billion", he added.

According to the official, the project should start in November 2018 and, would be implemented in many cities, Bangui included.

“Initially, we planned to build 1,000 on 5 sites but, as the government wants to extend the town [ed. Note: Bangui], we have chosen two sites in Bimbo, one at PK 14 not so far from where the university will be built, another one along Damara axis and one under assessment around Landja. Overall, we will try to build 4,000 social housing in Bangui and build the remaining 1,000 in high concentration towns such as Bouar, Berberati, Bambari. We will also provide a new momentum to a town like Bangassou”, he explained.

Let’s note that due to armed conflicts that wrecked Central Africa, many houses were destroyed leading to thousands of homeless people; many of whom are still in makeshift camps.  

Central African authorities estimate that from 500,000 then, houses needed rose to 1 million.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Mobile microloans reach 897,021 in CEMAC, totaling CFA14.45 billion Growth driven by mobile money expansion, fintech partnerships, automated...
Letshego Africa Holdings, a Botswana-based financial services group listed on the Botswana Stock Exchange, signed agreements with Axian Digital...
First RMBS listing on BRVM backed by NSIA Banque Côte d’Ivoire CFA10 billion securitization aims to expand housing finance Move seeks to deepen...
Holmarcom to acquire BNP Paribas 67% stake in BMCI Deal pending approvals, expected to close Q4 2026 Move strengthens Holmarcom...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...

Chinese Automaker Jetour to assemble SUVs in South Africa from 2027
05

Ecobank named alongside AfDB, ECOWAS, EBID and BOAD in the April 27, 2026 corridor financing mis...

Ecobank's Quiet Inclusion in the AfDB Mission Reshapes the Abidjan-Lagos Corridor Story
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.