Housing Finance in Guinea

Overview

To download a pdf version of the full 2021 Guinea country profile, click here.

The Republic of Guinea is a country in West Africa with a landmass of 245 857 km², and a coastline along the Atlantic Ocean. It shares borders with six countries, Guinea-Bissau, Senegal, Mali, Ivory Coast, Liberia, and Sierra Leone. With an estimated annual population growth rate of 2.9%, its population rose from 11233 037 in 2016 to approximately 12907 395 in 2021. This population is mainly made up of women (52%) and young people under the age of 35, which together represent 77.4% of the total population.

In 2019, the social housing deficit in Guinea stood at 500 000 units. In recent years, the country has faced an annual housing demand estimated at 47 000 social housing units. Lawless urbanisation and the absence of formal and accessible housing are at the origin of the exponential development of informal housing in the country, especially in the port city of Conakry. The main difficulty for the affordable housing sector is the weakness of the financial capacities of the State and especially that of communities. Indeed, the lack of an appropriate financing system has led to high housing prices.

Fiscal policy in the third quarter of 2020 took place in a challenging environment due to COVID-19. In response to the pandemic, a three-month lockdown period was imposed upon the onset of the disease from 12 March 2020. However, the Guinean economy has been resilient largely based on the response measures taken by the government. As a result, according to the October 2020 framework, real GDP growth is estimated at 5.2% in 2020 against an initial forecast of 3.1%. This level of growth is partly explained by the effects of the successful implementation of the national strategy to fight COVID-19 and by the resumption of activities in all sectors. In addition, the government has maintained its pace of social spending in order to assist the most vulnerable households.

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


Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2021 edition, which has up-to-date profiles for 55 African countries.

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