On January 24th, Mr. Loukimane Camara, CEO of Côte d’Ivoire’s Société Ivoirienne de Construction et de Gestion Immobilièr (SICOGI), signed a Memorandum of Understanding (MoU) with Mr. Ryan Otto, CEO of South Africa’s Megatron Federal, for the construction of 3,000 homes and an expanded polystyrene panel factory in Côte d’Ivoire by the end of 2015. As a leading company in infrastructure and real estate development in sub-saharan Africa, Megatron Federal will apply its innovative construction technology to building high quality homes in Côte d’Ivoire at affordable prices. Under terms of the MoU, Megatron Federal is committed to use local subcontractors and labor wherever possible, a process that will also transfer technology and skills, while creating 20,000 new jobs in the construction industry.
This partnership, which was concluded with support from Côte d’Ivoire’s Economic and Trade Office in Johannesburg, puts Côte d’Ivoire one step closer to reducing its severe housing shortage. Côte d’Ivoire’s Economic and Trade Representative, Mr. Patrice Mallet, says “Megatron’s turkey solution will help more Ivorians become homeowners, providing comfortable homes that are well-suited to Côte d’Ivoire’s tropical climate.”
Expanded Polystyrene, the material that will be used in the homes Megatron Federal plans to build in Côte d’Ivoire, is a new construction material which is light, yet extremely strong and moisture resistant. It is now internationally recognised as an advanced alternative to traditional construction materials.
SICOGI, the Ivorian partner, has been planning Côte d’Ivoire’s urban landscape and building homes domestically since 1962. As a government entity, SICOGI benefits from the full backing and support of the Ivorian state. However, its CEO and staff are empowered to operate with the flexibility and efficiency of a private firm, which has made SICOGI Côte d’Ivoire’s leading home builder.
Megatron Federal, a South African company, headquartered in Johannesburg, has been in business for over 15 years. They have completed projects in over 20 African countries and operate 10 factories in Kempton Park, Johannesburg. Megatron Federal’s four divisions focusing on housing, power, telecoms, and water allow it to provide clients with seamless turnkey solutions. Megatron Federal owned by Ellies Holding Ltd, a publicly listed company on the Johannesburg Stock Exchange (JSE), which was the JSE’s top performing share in 2012.