The Caisse Régionale of Refinancement Hypothécaire (CRRH-UEMOA) held its 10th Ordinary General Assembly on Friday April 30, 2021, by videoconference, under the Chairmanship of Mr. Younoussi TOURE, Chairman of its Board of Directors. The Ordinary General Assembly (AGO) approved the accounts of CRRH-UEMOA for the 2020 financial year with a net profit of 1,308 MFCFA, an increase of + 5.2% compared to the achieved result of 1,243 MFCFA in 2019. The Shareholders’ Meeting decided to allocate all of this result to reserves and retained earnings. The Ordinary General Assembly also ratified the co-option of Ms. Yedau OGOUNDELE as Independent Director of CRRH-UEMOA for a period of 3 years. The Ordinary General Assembly finally authorized, under the 2021 activity program of the CRRH-UEMOA, the issue of bonds, up to eighty billion (80,000,000,000) FCFA, for the refinancing of loans to the housing granted by shareholder banks.
As a reminder, the CRRH-UEMOA, a regional initiative in favor of better financing of housing in the UEMOA countries, aims to mobilize long-term resources at competitive rates, for the benefit of its shareholder banks and SFD, for the refinancing of home loans granted to their customers. As of December 31, 2020, CRRH-UEMOA has granted, in almost nine years of operational activities, refinancing totaling CFAF 222.5 billion for the promotion of housing finance in favor of 37 shareholder banks covering the 08 countries of UEMOA. The CRRH-UEMOA started in 2020 the refinancing of housing loans granted by the Decentralized Financial Systems (SFD). Three (03) SFDs were refinanced for the year 2020, for a total amount of CFAF 3.5 billion.
The international rating agency Moody’s rated CRRH-UEMOA in 2020, for the first time, and assigns it the Ba2 long-term issuer ratings in local currency, and the long-term issuer rating in foreign currencies of Ba3. They make CRRH-UEMOA the UEMOA institution best rated by an international agency, after ADB and BOAD. In 2020 and for the third year in a row, CRRH-UEMOA obtained AA + long-term ratings with a stable outlook and A1 + with a stable short-term outlook from the Bloomfield Investment Corporation rating agency. These ratings make CRRH-UEMOA, since 2015, one of the safest risks in the WAEMU financial market.
