The housing finance market in Maliremains small and under developed. Few banks currently offera full mortgage product with Banque Malienne de Solidarite,Mali Housing Bank (BHM), Bank of Africa, and EcoBank beingthe main lenders although at minimal levels. The totalannual housing need in Mali based on the household formationrate amounts to 82,500, split between 51,100 urban units and31,400 rural units. Overall some social housing isconstructed and support is provided by the state for lowincome housing through the Office Malienne de l’Habitat(OMH), but the numbers remain small. The Malien authoritieshave been working to strengthen financial sector stabilitywhich includes measures to stabilize the BHM and put it in aposition where it begins to fulfill its mandate of providingcredit for the housing sector. A strategy was approved bythe council of Minister for a strategic disengagement by thestate from the share capital of BHM. Initially the agreedplan was for BHM to be privatized. Overall progress indelivery of affordable housing will require a concertedeffort among all stakeholders both in public and privatesector. This should be supported through establishment ofstakeholder coordination group to oversee change across thehousing value chain.
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