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PROPARCO and Société Générale Cameroun are supporting the development of the first certified green mall in Central Africa
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Like many cities in Sub-Saharan Africa, Douala, the economic capital of Cameroon (4 million inhabitants), is experiencing rapid population growth, especially among the middle class, and a strong urban transformation. Changes in consumer habits and the increase in purchasing power are giving rise to new needs for which a formal, modern and diversified offer is only just beginning to emerge.
PROPARCO and Société Générale Cameroun are providing EUR 30m of support for the development of unique facilities in Central Africa
Through their financing, for a total amount of EUR 30m, including a tranche in CFA francs, PROPARCO and Société Générale are supporting the private equity investor Actis for the construction of Douala Grand Mall (DGM), where a supermarket, 160 shops and boutiques, 22 restaurants and a cinema will open on 18,500 m2 of rental space. DGM has been designed as a destination mall, meaning both a place of consumption and center of attraction. It will open in September and will be the first major shopping center in Central Africa. The mall is located in the immediate vicinity of the International Airport, in an urban area with 4 million inhabitants. It will have a capacity to receive up to 300,000 visitors a month.
The construction of this shopping center will improve the city’s attractiveness, develop the surrounding areas and strengthen the fabric of the formal economy of the cameroonian capital
Douala Grand Mall is expected to create over 4,500 direct jobs, including 3,200 in the construction phase, with an expected 1,200 in the operating phase. DGM is the first phase of a Business Park project that should eventually include a five-star hotel and offices. It will help boost the development of a real center of attraction for Douala. DGM’s stores should help improve the quality and traceability of products to ensure they comply with international requirements. By offering products and services that meet high hygiene and quality standards and, in the longer term, contributing to structuring local food processing industries, DGM is actively involved in strengthening the fabric of Cameroon's formal economy.
A responsible property developer, an EDGE-certified building
Actis has opted for an EDGE certification process, which will increase the energy efficiency of the shopping center. In addition, a wastewater treatment unit is being built in the complex and Actis has paid particular attention to local supply for the construction, by using 25% of local materials.
The opening of DGM is contributing to the achievement of the Sustainable Development Goals: #SDG 8 Decent work and economic growth, by creating over 3,500 direct and indirect jobs, #SDG 9 Industry, innovation and infrastructure, by developing unique facilities in Central Africa, #SDG 11 Sustainable cities and communities, by developing facilities that meet high environmental standards (EDGE certification) and #SDG 12 Responsible consumption and production, by developing a business cluster to improve the city’s attractiveness and develop the surrounding areas.