Despite steady growth, Benin’s economy still struggles to provide meaningful poverty reduction and employment opportunities.
As youth in particular seek jobs in urban centers, unemployment is a critical issue in transforming Benin’s economic growth into prosperous livelihoods. Having long depended on trading with Nigeria and inland neighbors thanks to a competitive port in Cotonou, the devaluation of the naira and big port investments in neighboring countries have severely eroded this source of revenue, leading to falling median incomes and rising poverty since 2011. As a result, the economy needs to diversify and increase value-creating activities, taking advantage of new strategic opportunities to generate prosperity. Agriculture provides a unique opportunity to bolster employment, entrepreneurship, and food security, and the cashew sector in particular is ripe for success. TechnoServe is working to expand economic opportunities in Benin by helping farmers, agribusinesses, and entrepreneurs to raise their production levels and connect with lucrative markets, while creating jobs in rural areas.
Visit TechnoServe Benin's country website (in French).