Benin

Strategically located at the crossroads of the Abidjan-Lagos and Cotonou-Niamey corridors, this small country of about 14 million people serves as an essential commercial and tourism hub in West Africa. With borders with Nigeria, Burkina Faso, Niger and Togo, and a 121-kilometer coastline on the Gulf of Guinea, Benin has also successfully achieved many democratic transitions, earning a reputation as one of Africa’s more stable democracies. Along with port activities, key drivers of its economy include the export of unprocessed agricultural products, and the telecommunications, energy, cement production and construction sectors.

However, Benin faces several challenges. The national poverty rate remains over 30%, and a large majority of the labor force operates within the informal economy. Efforts to attract private investment are hindered by high-level corruption, policy and institutional weaknesses, bureaucratic inefficiency, and limited access to credit. Moreover, the country’s prospects are significantly affected by the threat of Islamist militant activity in its northern regions, as well as by the economic and political fates of its neighboring countries.