Ivory Coast: The banking sector wants to ease the requirements for accessing housing finance

Nov 30, 2012
The Ivorian banking sector is to relax the requirements for accessing long-term credit in a bid to stimulate the development of the real estate sector.

Bankers have taken this commitment during a forum on banking that took place this week at the initiative of the Professional Association of Banks and Financial Institutions of Ivory Coast (APBEF-CI).

Experts present at the forum also called for closer cooperation between banks and local authorities, and for the creation of an association of credit professionals.

"The structural deficit in housing due to a disengagement from the state and a lack of investment in the sector has created a genuine social insecurity within the population," stated Ahoutou Koffi, chief of staff at the Ministry for Economy and Finance, quoted by the newspaper Notre Voie.

He urged the government to implement tax incentives and reduce acquisition rights to one per cent.

Experts present at the forum also invited developers to leave the informal sector for the formal sector and to consider the leasing and hire purchase markets.

Kaba Nialw, minister for economy and finance, added that the red tape related to issuing documentation and administrative acts on land must be scrapped.ADNFCR-2976-ID-801498878-ADNFCR