Working paper of World Bank Group on housing finance in the CEMAC region current status, opportunities, and a way forward for affordable housing. CEMAC region contains the countries of Central African Economic and Monetary Community (CEMAC)—Cameroon, Chad, the Central African Republic, Equatorial Guinea, Gabon, and the Republic of Congo.

The housing deficit at the regional level with the estimation that at three million units and affects one in three households and formal housing and mortgage financing remains out of reach for most of the population and about 90 percent of homes in the region are self-built. Mostly, these homes do not have adequate standards, leading to unsafe conditions and the growth of informal housing settlements.

The urbanization and growing population will put increasing pressure on existing housing resources. With the housing construction and the necessary long-term finance to invest in, slums will proliferate as short-term solutions fill the gap. The institutions currently addressing housing shortfalls lack the scale and capacity to meet the challenge.

The quantum of new housing required can only be delivered by leveraging private sector resources including capital markets, financial system, and private sector developers. The enabling environment creates significant challenges in addressing the affordable housing challenge. A comprehensive and far-reaching program of reforms will be needed.