Moroccan billionaire Anas Sefrioui secures $27 million loan for 5,600 homes in Abidjan

Key Points

• Addoha Group secures $27 million to build 5,600 affordable homes in Greater Abidjan, easing Côte d’Ivoire’s housing crisis amid rapid urbanization.
• IFC backs Anas Sefrioui’s project, reinforcing its commitment to closing Africa’s housing gap and fostering regional economic integration.
• Sefrioui’s fortune reaches $1.6 billion, driven by his stake in Addoha Group, a leader in low-cost housing across Morocco and Côte d’Ivoire.

Moroccan billionaire Anas Sefrioui, through Addoha CIV—a subsidiary of Douja Promotion Groupe Addoha (Addoha Group)—has secured a $27 million loan from the International Finance Corporation (IFC) to build 5,600 affordable housing units in Greater Abidjan.

The project will include 4,600 homes for lower-middle to middle-income buyers and up to 1,000 for lower-income families. More than 23,000 people are expected to benefit, helping to ease Côte d’Ivoire’s housing shortage, especially in Abidjan, where rapid population growth and urban migration have worsened the crisis.

Building homes, strengthening Ivorian communities

Anas Sefrioui, President of Addoha Group, highlighted the project’s importance, stating, “The partnership with IFC enables the acceleration of urban development initiated by Addoha Côte d’Ivoire in the urban municipality of Attecoubé, specifically in Locodjoro. In this way, we strengthen our commitment to delivering high-quality and affordable housing to meet the needs of Ivorian families. Together, we are building a better future.”

Sérgio Pimenta, IFC’s Vice President for Africa, echoed this view, emphasizing IFC’s role in addressing Côte d’Ivoire’s housing shortage. “This investment demonstrates IFC’s commitment to supporting sustainable development and improving living conditions in Côte d’Ivoire. By mobilizing private investment, we are helping bridge the growing housing supply gap for low- and middle-income households and contribute to the country’s socioeconomic development.”

Pimenta also noted the broader impact of the project, adding, “It is also a prime example of how Moroccan firms, like Addoha Group, leverage their competitive edge to drive development and economic growth in Africa, underscoring IFC’s commitment to South-South investments and regional integration.”

Anas Sefrioui’s wealth hits $1.6 billion

Sefrioui, the founder of Casablanca-based Addoha Group, is one of Morocco’s wealthiest individuals, with an estimated net worth of $1.6 billion.

His company specializes in low-cost housing across key urban centers, including Casablanca, Ain Aouda, El Jadida, Tetouan, and now Côte d’Ivoire. He holds a 64.1 percent stake in ADH, owning 258,066,665 ordinary shares, currently valued at over $1.1 billion.

With this latest investment in Côte d’Ivoire, Sefrioui continues to expand his real estate footprint beyond Morocco, reinforcing his influence in Africa’s housing market.