Government, Housing Corporation Launch Drive to Channel Diaspora Investment into Housing Sector
The government, through the Ministry of External Relations (MINREX), has signed a new partnership with the Cameroon Housing Corporation (SIC) aimed at attracting and securing property investments from Cameroonians living abroad. Authorities say the initiative seeks to position diaspora capital as a financing source for the country’s housing and development sectors.
The memorandum of understanding (MoU) was signed in Yaoundé on May 19 by the Minister of External Relations, Mbella Mbella, and SIC Director General Ahmadou Sardaouna. It establishes a framework for the international promotion of SIC real estate projects and the mobilisation of technical and financial partners through Cameroon’s diplomatic network.
The initiative, branded “Diaspora-SIC”, comes as the government intensifies efforts to channel remittances and external savings from Cameroonians abroad into formal investment schemes. Authorities say the programme is designed to provide secure and transparent mechanisms for diaspora members seeking to invest in property projects in Cameroon, amid persistent complaints related to land disputes, unfinished projects and weak contractual guarantees in the local housing market.
Speaking during the signing ceremony, Mbella Mbella described the initiative as part of Cameroon’s economic diplomacy strategy aimed at reconnecting diaspora capital with national development priorities.
“The Cameroon government sees you, recognises you and invites you to build your future in the country,” the minister said, referring to Cameroonians living abroad. He added that the partnership was intended to place “the talents, capacities and experiences of the diaspora at the service of Cameroon’s emergence.”
Under the agreement, MINREX will mobilise Cameroon’s embassies and consulates to promote SIC housing projects abroad. The ministry will also coordinate property roadshows, organise “SIC Real Estate Weeks” within diplomatic missions and designate diaspora focal points across different geographical zones.
For its part, SIC will develop an international catalogue of housing products, launch a secure digital sales platform and provide periodic reporting to a joint monitoring committee established under the agreement. The company will also supervise project execution and ensure compliance with the investment and governance mechanisms introduced under the programme.
Ahmadou Sardaouna said the partnership aimed to address longstanding trust deficits affecting diaspora investments in Cameroon’s property market.
“The Ministry of External Relations and SIC have chosen to place the Cameroonian diaspora at the centre of a national development strategy focused on real estate,” he said. He added that many Cameroonians abroad had previously lacked “a reliable institutional interlocutor, adapted financial instruments and robust legal guarantees.”
The framework introduces several financial safeguards intended to reassure investors. The safeguards include foreign currency escrow accounts, phased disbursement of funds linked to construction progress, and compliance measures aligned with international anti-money laundering standards. The programme also includes the possibility of issuing diaspora-targeted real estate bonds.
The first major international promotion campaign under the new partnership took place during the MBOA Paris event held on May 23 at the Beffroi de Montrouge in France. Additional property promotion campaigns targeting Cameroonian communities abroad are expected before the end of 2026.
Recent World Bank data show that remittance inflows into Sub-Saharan Africa reached approximately 54 billion USD in 2023 despite global economic pressures. According to figures cited during the signing ceremony, remittances sent by African diasporas exceeded 100 billion USD in 2023, surpassing official development assistance and foreign direct investment flows into the continent combined. The African Development Bank has previously identified diaspora financing as a growing alternative source of development funding for African economies.
In Cameroon, the housing deficit remains significant. Data from the Ministry of Housing and Urban Development previously estimated the national housing shortage at more than one million units, driven by rapid urbanisation and population growth. Government officials view structured diaspora investment as one of the financing channels capable of supporting large-scale housing delivery while increasing formal capital flows into the economy.
The memorandum signed between MINREX and SIC takes immediate effect. A joint monitoring committee is expected to meet within 30 days of the signing, while the activation of diaspora escrow accounts and the deployment of international commercial operations are among the first implementation measures announced by both parties.
Mercy Fosoh
