Housing Finance in Comoros


This profile is also available in French here.

To download a pdf version of the full 2019 Comoros country profile, click here.

The Union of Comoros comprises of three islands and several islets, and is located off the East African coast. The country’s population in 2019 was estimated at 855 552, with approximately 29 percent of this population living in urban areas. The country has a predominantly youthful population, with nearly half its population being under the age of 20. Comoros is ranked among the world’s poorest countries, with a GDP per capita of CF392 024(US$874) in 2018. The country’s economy relies mainly on foreign aid, remittances and tourism, with majority of the population relying mainly on subsistence agriculture and fishing.

Comoros’s banking and finance sector comprises of 10 institutions which are approved and supervised by the Central Bank of Comoros. These include four banks, three decentralizes financial institutions (microfinance institutions) and three financial intermediaries.

The country’s financial sector is however relatively small and underdeveloped. Some of the obstacles facing the sector include poor financial infrastructure and distribution channels, high fees applied by financial institutions, and limited financial education. The Central Bank of Comoros is however implementing reforms aimed at consolidating the banking system, reducing risk through guarantee systems, and mobilising medium and long term resources to support the sector.

Approximately 65 percent of all housing units in Comoros are self-built, constructed using local materials. Nearly 90 percent of housing units are owner-occupied, 3 percent are rented and 3 percent occupied rent free. Due to high levels of poverty, the development of the housing sector in Comoros has been hampered. Housing finance is mainly dependent on the private sector, and through this, some housing loans have been developed. These are however only affordable to residents of major cities, private sector employees, and senior civil servants. The administration of the housing sector is managed by the Ministry of Energy, Agriculture, Fisheries, Environment, Regional Planning and Urban Planning.

Some of the key priorities of the Government in Comoros are the provision of stable and affordable energy supply. This is expected to drive economic development and enable the supply of water, hospitals, schools, housing, and transport. There have also been initiatives to promote investments in the country through the establishment of a National Agency for Investment Promotion, and through the strengthening of regulatory and supervisory frameworks in the country. The Comorian government aspires to increase competitiveness and growth in the manufacturing, agri-food, craft and construction sectors. These, in addition to policy initiatives aimed at improving the country’s business environment, could engender long-term growth prospects.

Find out more information on the housing finance sector of Comoros, including key stakeholders, important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2019 edition, which has up-to-date profiles for 55 African countries.

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