!css
Societe Generale in Africa

News

03/07/2020

A unique ecofriendly project in Cameroun: Douala Grand Mall

Infrastructure financing, a key factor for development

In partnership with Proparco, an AFD (Agence Francaise de Developpement) subsidiary, Societe Generale Cameroun volunteered to support up to 30 million euros the building of a shopping mall accredited with an environmental certification. 
Indeed, the Doula Grand Mall (DGM) will be constructed according to the EDGE (Excellence in Design for Greater Efficiencies) certification that will ensure the infrastructure's eco-compatibility. 

In addition to the construction of a wastewater treatment plant within the Mall, Actis, the property developer, choose to use over 25% of local materials. The Mall will help to reach the sustainable development goals such as proper work and economic growth by creating more than 3.500 directs and indirect jobs ; the industry development, the innovation and the infrastructures, but also the benefits of a more sustainable city and finally ; the establishment/implementation of a responsible consumption and production.

The development of this hub of activity will improve the city attractivity, sustain the surrounding areas and strengthened the economic base of the Cameroonian capital.

The Douala Grand Mall will enable to answer in a more modern and formal way to the constantly evolving  needs and expectations of a growing Cameroonian population that sees its  middle class expanding day by day.

Designed as a "Destination Mall", a place that is as much a consumption place than a attractivity pole, DGM will open from September and will be the first shopping mall of this breadth in central Africa.

The project is located near the airport, in a 4 million inhabitant urban area. It could welcome up to 300 000 visitors per month.

Infrastructures' financing is a key factor in Africa's development, and Societe Generale intends to further reinforce its contribution, by increasing its financial commitments related to structured finance on the continent by 20% over 3 years, including infrastructures' financing.