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.
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.
Overview
Overview
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%.
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)
French
National currency
West African CFA Franc
Presence of port
Yes
Port of Cotonou
Port of Cotonou
Next planned election and cycle length
Presidential elections:
2021 (5-year cycle)
Parliamentary elections:
2023 (5-year cycle)
2021 (5-year cycle)
Parliamentary elections:
2023 (5-year cycle)
All three connectivity indicators
% penetration of mobile cellular subscriptions
% penetration of mobile money
% population with access to internet
Import Duties and Value-Added Tax
Import Duties
Solar panels
Wind turbines
Batteries (for renewable energy storage)
VAT
Solar Panels
Wind turbines
Batteries (for renewable energy storage)