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Business Profile
Economy: Since the transition to democratic government in 1991, Benin has undergone a remarkable economic recovery. A large injection of external investment from both private and public sources has alleviated the economic difficulties of the early 1990s caused by global recession and persistently low commodity prices (although the latter continues to affect the economy). Benin’s economy is principally agricultural: it is self-sufficient in basic foodstuffs, the main export commodities being cotton, peanuts, coffee and palm oil. The manufacturing sector is confined to some light industry, mainly involved in processing primary products and the production of consumer goods. A planned joint hydroelectric project with neighbouring Togo is intended to reduce Benin’s dependence on imported energy (mostly from Ghana), which currently accounts for a significant proportion of the country’s imports. The service sector has grown quickly, stimulated by economic liberalisation and fiscal reform. Membership of the CFA Franc Zone offers reasonable currency stability as well as access to French economic support. Benin sells its products mainly to France and, in smaller quantities, to The Netherlands, Korea, Japan and India. The country’s leading suppliers are Germany and France. Benin is also a member of the West African economic community ECOWAS.
Business: It is essential to be able to conduct conversations in French. Normal courtesies should be observed and punctuality is especially important. Lightweight tropical suits should be worn. Office hours: Mon-Fri 0800-1230 and 1500-1830.
Commercial Information: The following organisation can offer advice: Ministère du Commerce et du Tourisme (see Contact Addresses section).
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