00:00Benin has raised the $1 billion through two separate operations on international markets.
00:12It issued a $500 million international bond with a final maturity of 16 years that carries a coupon of 6.48%.
00:19This was made possible through dollar-euro hedging covering the full amount.
00:23Demand was strong, with the order book reaching 3.5 billion pounds.
00:28Benin also concluded a €500 million international loan with Dogebank, with a final maturity of 15 years and an interest rate equivalent to 6%, including guarantee fees.
00:39Authorities say the funds will contribute to meeting the country's financing needs, estimated at $1.2 trillion CFA francs, including domestic and regional borrowing.
00:48It must be said that for several years now, Benin has been characterized by political stability, and when there is political stability, investors feel comfortable coming to invest in such a country.
01:02This explains why Benin does not often encounter difficulties when it enters the financial market.
01:07Another thing is that Benin has undertaken structural reforms to streamline the tax administration.
01:12And when we talk about streamlining the tax administration, that is what investors are looking for.
01:18They are looking for a place to invest with a return.
01:24The government says the success of the operations reflects its ability to mobilize financing for projects under its government action program.
01:32It should be noted that Benin has been making an effort to meet its commitments on the market for several years now.
01:41When Benin borrows on the market, it tries to honor its commitments, and that is what investors like most.
01:46A true test is one that has no difficulty in honoring its commitments on the national, international, and regional markets.
01:52Officials say Benin is seeking to strengthen its industrial base and attract more investment.
01:59I think that to become the Singapore of Africa, Benin will have to redouble its efforts to strengthen the entrepreneurial system,
02:06further refine the economic entrepreneurial ecosystem, and raise the level of initialization.
02:11It's true that we have already made a start and are already at a fairly good level with the establishment of the Glojibe Industrial Zone,
02:18with the support of the Benin Chamber of Commerce and Industry and the Small and Medium-sized Enterprise Development Agency.
02:24We already have the necessary tools for this, but it will take a lot of time and sacrifice to get there.
02:32Benin's finance minister says public debt stands at 53.7% of GDP, and that budget deficit remains under control.
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