Benin: The building of a former deputy is up for auction starting at 400 million FCFA.

The name of Zéphirin Kindjanhoundé appears in a real estate auction procedure announced by the Cotonou Commercial Court. The former deputy and member of the presidential movement is involved in the sale of a building located in Akassato, in the municipality of Abomey-Calavi.

According to an order made public on June 16, 2026, the property will be auctioned with a starting price of 400 million CFA francs. The sale is scheduled for July 2nd before the Cotonou Commercial Court.

At the heart of this matter is a bank loan granted to the company Algoaw SA. To secure this financial operation, the building had been put up as collateral for the Bank of Africa (BOA-Bénin). However, several years after the repayment deadline, the debt has still not been settled.

In light of this situation, the bank initiated a recovery procedure that ultimately led to the seizure of the real estate. Efforts made since 2021 to secure payment of the debt have not produced a favorable outcome, thus paving the way for the judicial sale of the property.

The property in question is described as a high-end establishment comprising a four-story building, a guardhouse, a well, and a fully tiled courtyard. Potential buyers will, however, need to meet several conditions before participating in the auction.

Each bidder must first pay a deposit of 30 million CFA francs to the registry of the Commercial Court. Bids will then be accepted in minimum increments of 10 million CFA francs.

The selected buyer will have to pay the winning amount within a maximum of twenty days after the sale, in addition to the various costs associated with the judicial process.