DISCOVER BENIN, COMING TO BENIN
Benin, one of the most stable democracies in Africa, has recently initiated major economic and structural reforms. Its economy is heavily dependent on informal re-export and transit trade with Nigeria (estimated at around 20% of GDP) as well as agriculture.
KEY METRICS
Area
114,763 km²
Population
11.5 million
(2018)
Official language
French
Capital
Porto-Novo
Region
West Africa
(300 million inhabitants)
Nominal GDP
7922 billion
CFA Francs
GDP growth
6.5%
Currency
FCFA (XOF)
(1 EURO = 655,957)
Affiliations
ECOWAS, UEMOA, WTO, Agreements: AGOA (USA), EBA (Europe), ACP/EU
Benin is a country in West Africa currently undergoing full economic development after successfully combining democracy and political stability; offering reliable economic growth, promising stable inflation; promoting sound public finances and injecting confidence in African and International Financial Institutions for a period extending 20 years. At the heart of ECOWAS, a vast market of more than 300 million consumers, including WAEMU and Nigeria, Benin’s geographical position, located 6 hours by road from Lagos and 24 hours from all major cities in West Africa, remains a real asset.
In recent years, the country has experienced economic progress which bears witness to the good governance promoted by the leaders. In 2019, Benin’s growth rate accounted for 6.3% attesting to its good economic health and positive reforms undertaken by the government, eventually bearing fruit.
Over the past ten years, Benin has introduced several property rights reforms and transparent tax laws that have enabled it to climb 26 places in the World Bank’s Ease of Doing Business ranking since 2012. Benin is one of the most politically stable countries in Africa with multi-party democracy and a peaceful transition of power for over 30 years.
5 REASONS TO INVEST IN BENIN
Endowed with a space favourable to investments due to its strategic geographical location, constantly improving business environment and a conducive institutional, macroeconomic and legal framework, Benin has several competitive advantages likely to attract any foreign investor wishing to invest in it. Here are five good reasons to invest in Benin.
01
A strategic geographical location very favourable to business and investment.
02
A stable political and democratic context and a growing economy
03
A development vision clearly displayed at the top of the State through an ambitious PAG and structuring investment projects.
04
A favourable and constantly improving business climate supported by several business incentive reforms
05
Countless business and investment opportunities for growth
5 REASONS TO INVEST IN BENIN
COMING TO BENIN
Benin has been busy scaling its GDP over 6.5% by attracting the attention of the business world and becoming one of the fastest growing countries in Africa. With impressive coastlines and greenery making it attractive for business travellers and expat habitants, Benin is #1 cotton producer and one of the most stable countries in West Africa.
