WAGAS GROUP : Toward a revolution in affordable housing in Cameroon

(LVDE) – The international group has announced plans to build 1.5 million housing units in Cameroon by 2035, aiming to reduce the country’s 2.5 million housing deficit. The ambitious project was formalized through a memorandum of understanding signed on September 16, 2025.

Cameroon is on the verge of a major turning point in its social housing sector. On September 16, 2025, Wagas Group, an international player known for its expertise in innovation and sustainable infrastructure, signed a memorandum of understanding with Célestine Ketcha Courtès, Minister of Housing and Urban Development. This ambitious partnership envisions the construction of 1.5 million housing units by 2035 — a critical effort to address the country’s severe housing shortage, currently estimated at 2.5 million units.

Although the total cost of the project has not been disclosed, Jonathan Partouche, Chief Executive Officer of Wagas Group, made it clear that its implementation will largely rely on collaboration with Chinese companies renowned for their strong track record in the housing sector. This strategic partnership is seen as an opportunity to bring best practices and cutting-edge technologies to Cameroon while supporting the local economy.

The financing of this groundbreaking initiative will draw on green funds and bond markets, a model that remains relatively underused not only in Cameroon but across the CEMAC region (Cameroon, Gabon, Congo, Central African Republic, Chad, and Equatorial Guinea). Jonathan Partouche emphasized the significance of this approach: “This is an innovative financing model that ensures the sustainability of the investment.” Green funds, which promote environmentally friendly projects, are viewed as a major lever for developing the subregional financial market.

Wagas Group’s experience in Nigeria, where it claims to have delivered over 20 million housing units, further strengthens its ambitions in Cameroon. The project also aligns with broader recommendations made by CEMAC Heads of State during an extraordinary summit in August 2021, which underscored the importance of implementing environmental policies and mobilizing financing to combat climate change.

A pilot phase of the project is planned in Ebolowa, in the South Region, where 24,000 hectares of land have been allocated by the Regional Council for the construction of 30,000 to 50,000 homes. Minister Ketcha Courtès also announced the creation of a steering committee tasked with evaluating the business plan and validating the project’s implementation timeline. This committee will play a crucial role in ensuring the smooth execution of the project and effective coordination among all stakeholders.

Through this initiative, Wagas Group positions itself as a key partner in tackling Cameroon’s housing deficit. By complementing government efforts, the group aims to transform the country’s urban landscape and improve living conditions for Cameroonians. Wagas’s proposal goes beyond mere housing construction — it seeks to build sustainable communities, integrating green spaces and social infrastructure.

Esther Grace