Housing Finance in Côte d’Ivoire


This profile is also available in French here.

To download a PDF full version of the 2023 Côte d’Ivoire country profile, click here.

Côte d’Ivoire (CIV), located in west Africa, is the main economy of the West African Monetary Union (WAMU). In 2021, the country’s GDP increased by 6%, driven on the supply side by critical industries such as building and public works. However, inflation nearly doubled, reaching 4.2% in 2021, due to inadequate domestic output and higher food prices.

The majority of the population lives in cities, accounting for 52.5% of the total population (2021 census). The most populated city is Abidjan, followed by Bouaké (723 549) and Korhogo (384 150). CIV’s population, like that of many African nations, is fairly young, with less than 3% of the population over the age of 65. Young people who are working and moving to cities are making the need for formal housing in cities grow quickly.

In terms of housing supply, the government of Ivory Coast has delivered around 20 000 social and economic units under PPLSE “phase 1” from 2012 to 2020. This was in line with the forward-looking policy to improve access to decent housing for modest-income earners and reduce the housing deficit nationwide.

In 2021, the average salary in the informal, non-agricultural business was estimated to be CFA41,137 (US$65.29). The average income recorded in the formal sector is much greater than that of the informal sector. It is difficult for a household, even with two breadwinners, to qualify for BNI home loans.

Despite the availability of home financing, access to mortgages remains difficult since most households have either low or irregular income, as most Ivorians (more than 80% of the population) earn their living in the informal sector. Mobile money continues to outperform financial institutions in terms of penetration, with the number of accounts expanding from 24% in 2014 to 40% among adults in 2021. Its penetration rate among women remains at 30%, while it is at 51% among males.

The average housing interest rate was recorded at 5.21% in June, making it the most affordable type of credit after cash (5.30%). As of March 2022, there were 292 650 outstanding microfinance loans totaling CFA437 billion (US$693.5 million).There are approximately 19 mortgage originators, all headquartered in Abidjan.

The housing crisis in Ivorian cities has created an opportunity for foreign developers to look at the local market and meet their societal and financial corporate goals. Over 90% of the Ivorian population is below the age of 65, indicating a continuing need for decent and affordable housing for young and mature adults.

Find out more information on the housing finance sector of Cote d’Ivoire, including key stakeholders, important policies, and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2023 edition, which has up-to-date profiles for 55 African countries.

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