“The success of this securitization operation illustrates Ecobank’s ability to mobilize its pan-African network and regional financial markets to address a fundamental issue: enabling more families to access decent housing while strengthening real economy financing”
In a context where housing needs continue to grow across West Africa, financial institutions are called upon to innovate to mobilize more resources for the real economy. It is in this dynamic that Ecobank is participating in the first multi-country mortgage securitization operation carried out in the UEMOA area, bringing together five of its subsidiaries around the same ambition: sustainably strengthening housing financing while contributing to the deepening of regional financial markets. Beyond the financial dimension, this operation marks an important step in the construction of a more integrated African finance, capable of responding to concrete development challenges. Interview.
Why did Ecobank choose to participate in the ZAKA program?
Access to housing remains a major challenge in all UEMOA countries. As a pan-African bank, we have a responsibility to support individuals, businesses, and states in their development projects.
Our participation in the ZAKA program fully aligns with this ambition. This operation allows us to refinance a portion of our mortgage loan portfolios to sustainably strengthen our capacity to finance more households wishing to access homeownership.
Beyond its financial dimension, this initiative addresses a major economic and social development challenge for our region.
This operation brings together five Ecobank subsidiaries in the UEMOA. What is the scope of this regional dimension?
This regional dimension is at the very core of Ecobank’s DNA. One of the strengths of our Group lies in its ability to mobilize its pan-African network to provide concrete answers to the development challenges of the continent. Housing needs are significant in all UEMOA countries, and the challenges faced are often similar.
By bringing together the mortgage loan portfolios of Ecobank Côte d’Ivoire, Burkina Faso, Niger, Senegal, and Togo, we demonstrate that it is possible to build financing solutions at a regional scale for the benefit of populations and the economy.
This operation also illustrates the ability of the Group’s subsidiaries to pool their expertise and resources around a common goal.
How does this initiative fit into Ecobank’s vision as a corporate citizen?
Being a responsible bank means contributing concretely to improving the living conditions of populations. Housing is a fundamental need and an essential factor for economic and social stability. By participating in this operation, we contribute to strengthening housing financing mechanisms and supporting projects that have a direct impact on families’ lives.
This operation also has a strong social dimension as we have committed to allocating the refinanced resources exclusively to the financing of so-called affordable housing, i.e., housing units whose unit value does not exceed 60 million FCFA.
Behind the numbers, the goal is to support more families in realizing a sustainable life project.
What role does Ecobank aim to play in the development of the regional financial market?
Ecobank has always been an active player in the development of African financial markets. Our ambition is to contribute to the creation of innovative solutions capable of mobilizing local savings for the real economy. Whether through financing infrastructure, businesses, trade, or now housing, we want to actively participate in the economic transformation of the continent.
This operation fully aligns with this vision and demonstrates the potential of the regional financial market when it is used to achieve concrete development objectives.
What does housing finance represent in the activities of participating subsidiaries?
Housing finance is an important focus of our activities and meets the growing demand from households.
Each mortgage loan granted not only allows a family to access housing but also generates positive impacts for the entire economic ecosystem: real estate developers, construction companies, artisans, material suppliers, and service providers.
Housing is a powerful driver of value creation and job creation for our economies.
Why use securitization as part of this strategy?
Securitization is a particularly effective tool to support the development of housing credit.
It allows refinancing of existing portfolios, freeing up financing capacity, and mobilizing new long-term resources. In concrete terms, this means that we can continue to support more households while optimizing the management of our balance sheet.
It is also a mechanism that contributes to deepening the regional financial market by creating new investment opportunities.
What convinced you about the ZAKA program led by AFINHAB and BOAD Titrisation?
We were impressed by the quality of the proposed structuring as well as the vision carried by the program’s promoters.
ZAKA provides an innovative response to a major development challenge while being based on high standards of governance, transparency, and risk management.
This combination of financial innovation, rigor, and economic impact is perfectly aligned with Ecobank’s values and ambitions.
What message does this operation send to the regional financial market?
This operation demonstrates that the UEMOA financial market has now reached a level of maturity that allows it to carry out high-quality structured operations.
It also shows that local savings can be effectively mobilized for essential sectors of the real economy.
It is a positive signal for investors, financial institutions, and all market participants who want to see more innovative financing solutions emerge in our region.
Why is this issuance an attractive opportunity for investors?
This issuance combines several characteristics that investors particularly seek.
It is based on quality underlying assets, benefits from robust structuring, and offers different yield profiles tailored to the expectations of subscribers.
But it also has an additional dimension: contributing to housing finance and economic development in our region.
Investors thus have the opportunity to combine financial performance with a concrete impact on the real economy.
What message do you want to convey to investors and the general public?
This operation illustrates what can be achieved when financial actors, investors, and development institutions work together towards a common ambition.
By subscribing to this issuance, investors participate in an initiative that combines financial innovation, rigor, value creation, and social impact.
For Ecobank, this operation marks a new step in our commitment to sustainably support the development of UEMOA and to facilitate access to decent housing for a greater number of families.
