Benin: a building to be sold at auction soon due to an unpaid bank debt

On Monday, June 22, 2026, at precisely 11 a.m., a building located in the 1st arrondissement of Cotonou will be presented for public auction in front of the Commercial Court of Cotonou.

According to an order issued on June 4, 2026, this sale is part of a real estate seizure procedure requested by Société Générale Bénin (SGB). The bank is seeking to recover a debt arising from a loan granted to SOFEP Sarl.

The property in question is a built structure located in the Akpakpa neighborhood. It consists of two buildings, one of which is a ground floor plus three floors (R+3) and the other a ground floor plus two floors (R+2). The entire complex is situated on a plot of 327 square meters and is subject to a registered land title.

According to the case file, the owner of the property, who is also the mortgage guarantor for the borrowing company, did not allow the bank to recover the amounts owed despite several attempts and court decisions. The financial institution then activated the mortgage guarantee constituted on the property.

The starting price has been set at 34.745 million CFA francs. Bids must be made in increments of five million CFA francs. Bidders must also make a prior deposit of 20 million CFA francs with the registry of the Commercial Court of Cotonou at least five days before the sale.

According to the conditions set by the commercial jurisdiction, the successful bidder must settle the purchase amount immediately after the adjudication is pronounced or, at the latest, within twenty days.

This sale represents the final step of a legal procedure initiated to allow the creditor bank to recover funds that have remained unpaid after several years of litigation.