Best results
Full meaning African Union Community of Sahel–Saharan States Common Market for Eastern and Southern Africa Economic Community of West African States Foreign direct investment Gross domestic product Inclining block tariff(s) International Monetary Fund Independent power producer Kilowatt Kilowatt hour Liquid petroleum gas Megawatt Pay as you go Power purchase agreement Private public partnership Standard and Poors Global Ratings Sub-Saharan Africa Transmission and distribution Time of use West African Economic and Monetary Union United Nations Industrial Development Organization Value added tax World Bank Regulatory Indicators for Sustainable Energy General government debt-to-GDP ratio measures the gross debt of the general government as a percentage of GDP. Debt is calculated as the sum of the following liability categories (as applicable): currency and deposits; debt securities, loans; insurance, pensions and standardised guarantee schemes, and other accounts payable. This percentage is calculated from the number of mobile cellular subscriptions per 100 adults. Occasionally a single user will have more than one mobile subscription and so it is possible for this value to exceed 100%. 190 countries ranked This includes all renewable energy sources (solar, wind, small hydro, geothermal and biomass and waste), and excludes large hydro (above 50 MW) and nuclear. Disclosed share of foreign investment in the clean energy sector (of both local and foreign investment in clean energy, this tells us the amount of foreign investment in clean energy). This includes all renewable energy sources (solar, wind, small hydro, geothermal and biomass and waste), and excludes large hydro (above 50 MW) and nuclear. Upgraded in July 2018 As per the 2020 Finance Law (Benin also applies the ECOWAS 2017 CET, which also exempts solar panels, but applies a 5% duty on assembled solar generating sets) As per the ECOWAS 2017 CET As per the 2020 Finance Law (note that the ECOWAS 2017 CET applies a 20% duty on batteries) As per the 2020 Finance Law As per Article 232 of the General Code of Taxes As per the 2020 Finance Law The median time (the value for 50 percent of shipments) from port of discharge to arrival at the consignee. Refers to all types of entry ports. Unit is days. Year is 2018, unless specified otherwise. The real economic growth, or real GDP growth rate, measures economic growth as it relates to the GDP from one period to another, adjusted for inflation, and expressed in real terms as opposed to nominal terms. The real economic growth rate considers inflation in its measurement of economic growth, unlike the nominal GDP growth rate, which does not. 167 countries ranked. Scores are averaged across 2012, 2014, 2016 and 2018 with the last year weighing most of the score. See "Source" below for more details.

The components analysed in the International LPI include:
• The efficiency of customs and border management clearance;
• The quality of transport infrastructure;
• The ease of arranging shipments;
• The quality of logistics services;
• The ability of tracking and tracing;
• The frequency with which shipments reach consignees within expected delivery times.


Benin’s economic growth remains robust at 6.4% in 2019, following annual gross domestic product (GDP) growth above 5% in real terms since 2017. Steady growth and improving local conditions saw Standard & Poor’s (S&P) upgrade the country’s investment grade rating from B to B+ in July of 2018 while Moody’s rated Benin for the first time in 2019. Per capita GDP has been showing healthy growth since 2015, passing the €1000 mark in 2017.

The country experienced a deflation of 0.9% in 2019, following several years of inflation rates near or below zero. The CFA Franc, which is pegged to the euro, has maintained relative stability while steadily depreciating against the US dollar between the period 2017 - 2019.

Inflows of foreign direct investment (FDI) has varied significantly in recent years. Between 2014 and 2016 it declined from more than 4% of GDP to about 1.5%, a reduction of about €186 million. Investment has since increased to around 2% of national GDP in 2017 and 2018, yet remains below 60% of 2014 levels.

As Benin aims for energy independence, it has implemented several reforms and initiatives to promote business and increase private investment. The government implemented a single legal framework for public private partnerships (PPPs), created a single business portal for information and support and is developing special economic zones to attract industry. In addition, the country has established Revealing Benin, a large-scale investment programme based on nine key sectors, including electricity.

To help stimulate investment in renewable energy, several tax incentives were introduced in 2020. Solar panels and batteries are exempt from both VAT and import duties. Importantly, however, a 5% import duty applies to pre-assembled solar generating sets and wind turbines, which also incur VAT of 18%.
Regional affiliation
AU, CEN-SAD, Conseil de l'Entente, ECOWAS, UEMOA
Official language(s)
National currency
West African CFA Franc
Presence of port
Port of Cotonou
Next planned election and cycle length
Presidential elections:
2021 (5-year cycle)

Parliamentary elections:
2023 (5-year cycle)


% urban population of total population
% rural population of total population
Population growth rate
Working age (15-64) share of total population
Working age (15-64)
Rest of population
Urbanisation rate (% urban population growth)


Mobile telecom operators
All three connectivity indicators
% penetration of mobile cellular subscriptions
% penetration of mobile money
% population with access to internet

Logistics, Import duties and value added tax


Median lead time to import
10 days
Aggregated Logistics Performance Index ranking

Import Duties and Value-Added Tax

Import Duties
Solar panels
Wind turbines
Batteries (for renewable energy storage)
Solar Panels
Wind turbines
Batteries (for renewable energy storage)

Business intelligence

Energy Ranking

Climatescope ranking
Not ranked
Not ranked
Not ranked
WB RISE ranking
Not ranked


Real GDP growth
GDP/capita, real
SSA average
GDP/capita, real
SSA average
GDP/capita, real
Debt to GDP ratio (gross debt)
Inflation rate
Exchange rate
Currency exchange rate vs. EUR and USD
Currency exchange rate vs. EUR
Currency exchange rate vs. USD
Total volume of clean energy investment
% foreign investment in clean energy
Get to know how this Country Brief was developed
Read more
Questions or feedback are always welcome