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Benin creates 100 billion CFA franc industrial fund

By , based on 24h au Bénin

Benin creates 100 billion CFA franc industrial fundIllustrative image · EqualStock IN · Pexels · Licence Pexels

The Beninese government has created an Industrial Development Fund with capital of 100 billion CFA francs. The instrument will finance companies’ equity, share risk with banks and provide industrial sites, according to the 4 November Council of Ministers statement.

The Beninese government created on Wednesday 4 November, at a Council of Ministers meeting, an Industrial Development Fund with capital of 100 billion CFA francs, 24h au Bénin reports. The fund is intended to finance national industrial companies and support the establishment of factories across the country.

According to the government statement, the mechanism will provide equity and quasi-equity to companies, share the risk of investment loans with banks and offer ready-to-use industrial buildings. It is aimed in particular at projects whose profitability exceeds the duration of available bank financing.

The fund is also intended to promote the emergence of companies capable of joining regional and global value chains, while bringing investment closer to raw-material production areas. Its governance must follow international practices applicable to public investment funds, and its activities will be organised around three windows with distinct instruments and time horizons.

The creation comes as the EIB is considering 16.4 billion CFA francs to support Benin and the EBRD plans 13.12 billion CFA francs for Cotonou.

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Ongoing story · day by day

Agricultural funding in Senegal

Senegal assesses its agricultural needs, expects arrears and mobilises funds for the groundnut campaign.

The latest developments

Earlier in this story

  1. 2 NovBurkinabè diaspora sends up to CFA 350 billion a year
  2. 1 NovTouba mobilises 15 million CFA francs for 74 young people
  3. 31 OctGabon pays 715 million CFA francs for Okala road
  4. 31 OctDanyi 1 cuts civil marriage fees to 25,000 CFA francs
  5. 30 OctPolice seize 6.52 million CFA francs in fake notes in Birni N’Konni
The whole story: 32 articles →

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