The WAEMU Regional Mortgage Refinancing Bank (CRRH-UEMOA) will officially launch the very first mortgage securitization transaction in West Africa on Tuesday, July 22, 2019, in partnership with BOAD Securitization.

The CRRH-UEMOA reaches a historic milestone in housing finance. Through the securitization transaction called “ZAKA”, it intends to catalyze a new market dynamic, while consolidating its position as a leader in housing finance in the UEMOA. This securitization vehicle is dedicated exclusively to affordable housing. It is a “Residential Mortgage-Backed Securities (RMBS)” structured to allow banks to transfer part of their mortgage assets to a mutual fund in exchange for liquidity. Its objective is to improve the liquidity of the mortgage market and unlock new financing capacities in a region facing a

This securitization program is part of the strategic transformation initiated by CRRH since 2023. After the launch of a guarantee fund in 2024 and a “social bond” of 60 billion CFA francs ($106 million) in May 2025, the institution confirms its move towards a multi-solution model.