Benin and the United Arab Emirates concluded a comprehensive economic partnership agreement in Abu Dhabi that would cut or remove customs duties on a wide range of goods once both countries ratify it, Bénin Web TV reported on October 25. Non-oil trade between the two countries rose 65% to $2.15bn in 2025, the outlet said. In the first half of 2026 it reached $1.29bn, up 37.4% from a year earlier.
Analysis: Non-oil trade between Benin and the UAE has more than doubled since 2021, when it stood at $1.01bn. Trade in the first half of 2026 alone equaled about 60% of the 2025 total, by our calculation. The agreement could reduce duties and improve market access for exporters, importers and service providers. However, the tariff changes are not yet in force, and officials have not published the product categories or rates covered. Neither government has provided a ratification date, leaving the timing and commercial effects uncertain.
Source: Bénin Web TV, Bénin Web TV, "Bénin : un accord économique conclu avec les Émirats arabes unis" (October 25, 2026), 2025 and 2021 and H1 2026
Benin plans no Treasury bill or bond issues on the regional market in the fourth quarter of 2026, while governments of the West African Economic and Monetary Union (WAEMU) intend to raise 2,057bn FCFA (€3.14bn), according to the regional debt agency UMOA-Titres, as reported by Le Journal de l'Economie Sénégalaise. Benin closed a 12-year, €500mn bank loan on September 18, the African Development Bank said.
Analysis: The €500mn loan, worth about 328bn FCFA, is equivalent to roughly 95% of Benin's first-half deficit of 345.6bn FCFA (€527mn). That may reduce its immediate need for regional borrowing, although the loan cannot be directly equated with second-half financing requirements. A partial African Development Fund guarantee reduces lender risk. Regional investors could see fewer Beninese Treasury securities, while Ivory Coast alone is planning 804bn FCFA (€1.23bn) in issuance. The auction calendar is provisional, and any Benin sale before December 31 would indicate a change of plan.
Source: Various, UMOA-Titres Q4 2026 issuance calendar, as reported by Le Journal de l'Economie Sénégalaise via AllAfrica, Q4 2026; African Development Bank Group, AfDB press release (via AllAfrica), 18 September 2026; African Development Bank Group, African Development Bank Group press release, via AllAfrica, September 2026; Bénin Web TV, DGB mid-year budget execution report (16 Sept 2026), as reported by Bénin Web TV, H1 2026
Benin's annual consumer price inflation rose to 1.9% in September 2026 from 0.1% in August, the highest rate since September 2025, statistics agency INStaD said. Transport prices climbed 16.8% from a year earlier and energy prices rose 15.2%, while food and non-alcoholic beverage prices were almost unchanged, up 0.1%.
Analysis: Consumer prices increased 1.7% from August, driven partly by an 11.4% jump in the cost of informal fuel known as kpayo, alongside higher charcoal and onion prices. Core prices excluding fresh produce and energy rose only 0.3% on the month. That suggests the latest increase was concentrated in specific items rather than broadly distributed across the economy. Higher fuel costs can raise transport and freight expenses, although the extent of any pass-through is not yet known. INStaD's October figures, expected around November 10, will offer an early indication.
Source: Institut National de la Statistique et de la Démographie (INStaD), INStaD, Indice Harmonisé des Prix à la Consommation, bulletin mensuel septembre 2026 (base 2023), September 2026 and August 2026 and September 2025; Secrétariat Général du Gouvernement (SGG), Compte rendu du Conseil des Ministres du 7 octobre 2026 (SGG), 2027
The Glo-Djigbé industrial zone plans more than 625 megawatts (MW) of dedicated power, starting with a thermal plant of more than 225 MW fed by a newly completed 30-kilometer gas pipeline from Maria-Gléta, said Létondji Beheton, head of zone developer SIPI-Bénin, according to La Nouvelle Tribune. The plan adds 300 MW of solar plants and about 100 MW of rooftop solar.
Analysis: The proposed capacity is about 2.6 times Benin's 239.8 MW of installed generation in 2024, of which only 199.8 MW was available, according to the national energy compact. Dedicated supply could make factories less reliant on imported electricity, while surplus solar generation might feed the national grid. But the project is still preliminary: officials have not announced a construction contractor, financing or total investment. Work on the first solar installation is expected to start within 18 months, around April 2028. The announced capacity should not be treated as electricity already available.
Source: La Nouvelle Tribune, SIPI-Bénin DG press conference (via La Nouvelle Tribune), Announced October 2026; La Nouvelle Tribune, SIPI-Bénin SA press conference at the SEZ investment forum, as reported by La Nouvelle Tribune, Announced 21 October 2026; World Bank / Government of Benin, Benin National Energy Compact (Mission 300), 2024
Customs clearance and cargo pick-up at the Port of Cotonou were due to run seven days a week, including public holidays, from October 24, customs director general Raouf Malèhossou said, according to Bénin Web TV. The port's cargo traffic rose 16.6% in the first half of 2026 from a year earlier to 7.8mn metric tons, the French Treasury's regional brief said, citing finance ministry data.
Analysis: Transshipment rose 152.1% to 516,000 tons in the first half. Extending clearance operations through weekends could reduce delays, storage costs and demurrage for importers and freight forwarders. Benefits depend on weekend staffing by banks, inspectors and cargo handlers. No target for cargo dwell times has been announced, and the first weekend of continuous operations on October 24-25 had not yet been assessed publicly. Results are not yet measurable.
Source: Direction générale du Trésor (France), SER Abidjan, DG Trésor (France), SER Abidjan, Brèves économiques Afrique de l'Ouest N°645, H1 2026; Direction générale du Trésor (France), SER Abidjan, MEF data via DG Trésor (France) Brèves économiques Afrique de l'Ouest N°645, H1 2026; Direction générale du Trésor (France), SER Abidjan, DG Trésor Brèves économiques N°645 (citing MEF), H1 2026; Various, DGB budget execution report (via Ecofin Agency), H1 2025; Bénin Web TV, Announcement by customs director general Raouf Malèhossou, as reported by Bénin Web TV (22 Oct 2026), From 24 October 2026
Chart of the week
Benin three-month Treasury bill yield at auction, %
3.9
3.6
3.2
3.2
3.2
3.1
April 2, 2026April 16, 2026May 14, 2026June 11, 2026July 9, 202613 August 2026
Weighted average yield at each of Benin's six 91-day bill auctions on the regional market, April 2 to August 13, 2026. Benin has held no auction since and plans none in the fourth quarter. Source: UMOA-Titres auction results; August 13 as reported by APA.. Source: UMOA-Titres (regional agency for government securities in the WAEMU), UMOA-Titres, Compte rendu d'adjudication de bons du Trésor, État du Bénin (02/04/2026), April 2, 2026; UMOA-Titres (regional agency for government securities in the WAEMU), UMOA-Titres, Compte rendu d'adjudication de bons du Trésor, État du Bénin (16/04/2026), April 16, 2026; UMOA-Titres (regional agency for government securities in the WAEMU), UMOA-Titres, Compte rendu d'adjudication de bons du Trésor, État du Bénin (14/05/2026), May 14, 2026; UMOA-Titres (regional agency for government securities in the WAEMU), UMOA-Titres, Compte rendu d'adjudication de bons du Trésor, État du Bénin (11/06/2026), June 11, 2026; UMOA-Titres (regional agency for government securities in the WAEMU), UMOA-Titres, Compte rendu d'adjudication de bons du Trésor, État du Bénin (09/07/2026), July 9, 2026; APA / AllAfrica, UMOA-Titres auction result (via APA/AllAfrica), 13 August 2026.
Tender of the week
Rehabilitation of Cotonou access roads and crossings for urban mobility (ATC-Mobilité)
Buyer
Road infrastructure and land planning company SIRAT SA
Scope
Road rehabilitation works on Cotonou's access roads and crossings under the Grand Nokoué Sustainable Urban Mobility Project; international competitive bidding under World Bank rules (February 2025 edition); rated criteria 70% and price 30%; no domestic preference margin; bid documents free of charge.
Value
Not published
Funding
World Bank (IDA) and Asian Infrastructure Investment Bank (AIIB) loans, Grand Nokoué Sustainable Urban Mobility Project (P180579)
Closes
Thursday, November 12, 2026
Alama Pro members get the link to the official notice for this and every other tender.
In Alama Pro this week
Deep dive: Benin's retreat from regional bond borrowing
15 signals with workings, from trade, macro and prices, energy, ports, construction, mobile money, regulation, tourism, agriculture and infrastructure projects
Four key figures (inflation, the three-month bill yield, Port of Cotonou cargo, goods exports), the tender of the week and every open tender we track, with deadlines
Euro equivalents use the fixed parity of 655.957 FCFA per euro. Every figure comes from the official source named under it. Spotted an error? Write to info@alamareport.com; corrections run in the next issue.
