BOAD and African Solidarity Fund (ASF) sign a guarantee agreement
Niamey, 12 August 2021. Mr. Serge Ekue, President of BOAD, and Mr. Ahmadou Abdoulaye Diallo, Director General of the African Solidarity Fund (ASF) have signed a guarantee agreement as part of the proposed construction and operation of the building “Tour de l’Entente” by the Société de Gestion de la Tour Entente (SGTE) SA in Abidjan, Côte d’Ivoire. Under this agreement, the ASF guarantees up to XOF7.5 billion the XOF15 billion loan granted by BOAD to the SGTE for the project implementation.
This project, which aims at the construction and operation of a 22-storey luxury building for office and commercial use, is part of the renovation and upgrading strategy of the Plateau municipality set up by the Ivorian authorities. It will mainly contribute to: (i) increased supply of rental space including 18,700 m² of office space, a parking space for 340 cars and 4,200 m² of commercial space; (ii) job creation, with 400 direct jobs during the execution of works, 650 direct jobs during the operation of the building as well as 200 spinoff and indirect jobs; and (iii) wealth creation, with at least XOF4.496 billion of added value and XOF1.280 billion of tax revenue on average per year.
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