G20 Compact With Africa

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    • The G-20 Compact with Africa: A Joint AfDB, IMF and WBG Report
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    • Germany and IMF Strengthen Capacity Development Cooperation in Africa
    • G20 Com­pact with Africa
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    • Toolbox: Instruments Avlb. to Support Private Investment in CWA Countries
    • Toolbox 2: Instruments Avlb. to Support Private Investment in CWA Countries
    • Africa Advisory Group Meeting - Chairs' Conclusion - May 2020
    • CWA Recent Trends in FDI and Cross-Border Investments - Oct 2019
    • CWA WBG - Implementation Plan - Oct 2019
    • G20 CWA - Independent Review by the African Center for Economic Transformation - Oct 2019

      Documents

      • The G-20 Compact with Africa: A Joint AfDB, IMF and WBG Report
      • Ger­many, the G20, pro­tec­tion­ism and the Com­pact with Africa
      • Germany and IMF Strengthen Capacity Development Cooperation in Africa

      Documents

      • G20 Com­pact with Africa
      • G20 Finance Ministers and Central Bank Governors on Compacts
      • Toolbox: Instruments Avlb. to Support Private Investment in CWA Countries
      • Toolbox 2: Instruments Avlb. to Support Private Investment in CWA Countries

      Documents

      • Africa Advisory Group Meeting - Chairs' Conclusion - May 2020
      • CWA Recent Trends in FDI and Cross-Border Investments - Oct 2019
      • CWA WBG - Implementation Plan - Oct 2019
      • G20 CWA - Independent Review by the African Center for Economic Transformation - Oct 2019
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Benin

Benin

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Located in West Africa, Benin is a natural corridor between Nigeria and countries of the West African Economic and Monetary Union (WAEMU). In light of Benin’s stable political environment and commitment to key economic policy measures, Benin is expected to exhibit strong growth in the medium term, while keeping inflation low and the fiscal position strong, . Since 2016, the Government has worked to launch the structural transformation of the economy, with an ambitious government action program dubbed "Revealing Benin" (http://revealingbenin.com) which combines reforms targeted towards productive investments in the sectors of agriculture, tourism and culture, digital, infrastructure and power generation. The Government also concluded on April 7, 2017, a three-year economic program aimed at (i) creating fiscal space by stepping up domestic revenue mobilization and enhancing the efficiency of government spending, (ii) increasing gradually absorptive capacity to scale up investment, (iii) strengthening public debt management and (iv) promoting private sector investment by strengthening institutions and improving the local business climate.

 

Key Indicators
 Population, millions  11.13 
 GDP per Capita, U.S. dollars  831.1
 GDP Growth, percent
 5.61
 Inflation, end of period, percent  0.14
 General Government Debt, percent  54.6
 Global Competitiveness Ranking 2017-18  120
 Doing Business Ranking, 2019  153
*Figures are for the period 2017, unless otherwise indicated.

 

Country Websites

Investment Promotion Agency (APIEX Benin)
Ministry of Economy and Finance
Ministry of Foreign Affairs and Cooperation
National Institute of Statistics and Economic Analysis
The Central Bank of West African States

Partner Websites

Benin and the AfDB
Benin and the IMF
Benin and the WBG

Benin Reform Matrix May 2022
Benin Reform Matrix April 2021
Latest IMF Article IV Staff Report on Benin July 2019
Latest IMF Article IV Staff Report on Benin January 2018
Prospectus September 2017
Benin Flagship Projects 2016-2021 September 2017
Benin Policy Matrix February 2018
Benin Policy Matrix September 2018


Heritage & Tourism

Background

  1. Benin has a rich and untapped touristic potential rooted in its heritage. Its strongpoints lie in its culture, the arts and voodoo civilization, the memory and remnants of the slave trade and the largest animal park in West Africa. The objective is to develop tourism into a full-fledged economic sector. The sector’s contribution to GDP is projected to grow to US$ 628 million in 2021 compared to US$ 182 million in 2016.

Specific opportunities

  1. Positioning Pendjari park as the Natural Park of reference in the West African region (US$ 26 million)
  2. Reinventing the Lake City of Ganvié (US$ 43 million)
  3. Developing beachside resorts (US$ 333 million)


Agriculture

Background

  1. The objective is to promote inclusive growth and leverage agriculture as an economic growth vehicle to generate jobs and wealth for Benin.
Specific opportunities
  1. Extension of sown areas, improvement of productivity and development of high value added agricultural product transformation (maze, rice, pineapple, cashew, cassava, cotton)
  2. Development of 500 ha of aquaculture zones for the production of 20,000 tons of fish for over 5 years
  3. Improvements in meat, milk and egg production: Reaching 104,000 tons of meat, 172,000 tons of milk and 25,000 tons of eggs produced by 2021


Electricity

Background

  1. The objective is to achieve energy independence in the short-term and ensure distribution at competitive prices.

Specific opportunities

  1. Construction of floating gas storage and gas regasification units near the Port of Cotonou to supply onshore gas-powered plants generating 500 MW
  2. Development of renewable energy - Rebalancing of thermal production mix with the construction of 2 hydroelectric dams and the implantation of solar farms
  3. Extension and rehabilitation of national power distribution network

 


Living Environment

Background

  1. The objective is to ensure inclusive and sustainable development built around resilient and secure cities.

Specific opportunities

  1. Development and rehabilitation of 850 kilometers of urban main access roads, secondary and tertiary access roads in 9 cities
  2. Development of Cotonou lagoon banks and sanitization of lagoon
  3. Development of social housing real estate programs to accommodate approximately 20,000 housing units
  4. Construction of multidisciplinary urban complex dedicated to international forums and culture – National theater of 3,000 seats, conference centre of 3,500 seats and various other attractions

See Full Prospectus


 

Country

Abdou Rafiou Bello

rbello@finances.bj


African Development Bank

John Andrianarisata

j.adrianarisata@afdb.org

 

Hamacire Dicko

h.dicko@afdb.org


International Monetary Fund

Luc Eyraud

leyraud@imf.org

 

Karim Barhoumi

kbarhoumi@imf.org


World Bank Group

Pierre Laporte

plaporte@worldbank.org

 

Katrina M. Sharkey

ksharkey@worldbank.org

 

Boulel Toure

btoure1@worldbank.org

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