BENIN · PUBLIC FINANCE
Key Facts
- —The country Benin is a coastal West African country with Cotonou as its economic capital and the main port serving its landlocked neighbours.
- —What happened Finance Minister Aristide Médenou said on 21 October that state firms ended 2025 with a surplus just under FCFA 300 billion (just under US$514 million).
- —Where he said it He spoke at the opening of a regional congress of chartered accountants in Cotonou, held on 21 and 22 October.
- —Why it matters State firms can weigh on public budgets, so a combined surplus points to firmer public finances in Benin.
- —What it pays for The minister said the improvement frees more money for education, health and access to electricity.
- —Rate basis Conversions use 584 FCFA to the US dollar, the rate on 22 October 2026.
- —Still open The minister gave no breakdown by company and did not say whether the surplus is profit, cash or another measure.
Benin public firms ended 2025 with a combined surplus of just under FCFA 300 billion (just under US$514 million), the finance minister said. Aristide Médenou gave the figure in Cotonou on Wednesday 21 October, at the opening of a regional accountants’ congress.
For US readers, it is good news about state firms in West Africa, where losses at such companies can fall back on the budget. The minister said the improvement frees money for schools, clinics and access to electricity.
What the Finance Minister Told the Accountants
Médenou presented the figure to chartered accountants, the professionals who audit and certify company accounts. The Cotonou daily 24 Heures au Bénin reported a surplus slightly under FCFA 300 billion (just under US$514 million) at end-2025, firms and offices combined.
He argued that the better financial position lets the state spend more on education, health and access to electricity. Governments must now rely more on their own resources, he said, so reliable financial information is needed to raise revenue and attract investors.
The Congress Behind the Announcement
The meeting is the eighth congress of the chartered accountants of the West African Economic and Monetary Union, known by its French initials UEMOA. The union groups eight countries that share the FCFA, the West African CFA franc, which is pegged to the euro.
The Benin accountants’ order, known as OECCA-Bénin, hosts the congress as it marks its 20th anniversary. Its president, Serge Mensah, told delegates that reliable accounts attract investment, according to 24 Heures au Bénin.
How Big Is Benin’s State Sector
A public company in Benin is a firm the state owns, while a public office is an agency that carries out a public service. The International Monetary Fund counted 34 state-owned enterprises and 137 public institutions at the end of June 2025 in its latest Benin report.
Revenue of Benin public firms and institutions was equal to 48% of central government revenue, or about 7% of the country’s economic output, in 2024. The fund said oversight of these companies remains limited and urged the government to complete and publish their audits.
The Four Firms That Matter Most
Four companies dominate the sector: the Port Autonome de Cotonou, the state electricity producer, the electricity distributor SBEE, and the national water company SONEB. Together they generated 54% of all state-company revenue in 2024, the fund reported.
The fund found the port in a stronger liquidity and profit position than the other three. It said urban water tariffs have not changed since 2009 and called for a reform, with an update promised for 2026.
How the Surplus Fits the Budget
The announcement comes as Benin prepares a 2027 budget of FCFA 4,757 billion (about US$8.1 billion), up 14.7%, which now goes before parliament. The Rio Times covered the plan in Benin Plans 14.7% Budget Rise to US$8.1 Billion.
The International Monetary Fund’s April 2026 report, which covers data up to 2024, describes the sector’s solvency position as strong. It gives no figure for 2025, so the minister’s number is the main public total for last year.
What It Means for US Readers
Investors in Benin’s bonds and lenders to its ports and power projects watch state firms closely, because their losses can fall back on the government. A combined surplus at Benin public firms lowers that risk, and the Rio Times reported a US$563 million bank financing deal this month.
For US shippers, the figure also touches the Port of Cotonou, a gateway for goods bound for Niger and other landlocked neighbours. It is one number from one speech, so analysts will want company-level accounts.
What Is Not Known
The minister did not say which companies produced the surplus or whether it is net profit, operating balance or cash. No breakdown was published with the speech, and it is unclear whether any firms posted losses that the total hides.
The International Monetary Fund noted that the four largest state firms had published only unaudited accounts for 2022 to 2024. It is not yet known whether audited 2025 statements will follow, or how much of the surplus will reach the state budget.
More: Africa news in English, every day from The Rio Times.
Frequently Asked Questions
How big is the Benin public companies surplus for 2025?
Benin public firms and offices posted a combined surplus of just under FCFA 300 billion (just under US$514 million) at the end of December 2025. Finance Minister Aristide Médenou gave the figure on 21 October in Cotonou.
What are public companies and offices in Benin?
Public companies are firms owned by the state, such as the port, electricity and water operators, while public offices are agencies that deliver public services. The International Monetary Fund counted 34 state-owned enterprises and 137 public institutions in mid-2025.
What is UEMOA?
UEMOA is the French name of the West African Economic and Monetary Union, a group of eight countries that share the FCFA currency. Its regional central bank issues the currency, which is pegged to the euro.
Does a surplus mean the state firms made a profit?
Not necessarily, because the minister did not say how the surplus of Benin public firms is measured. Only company accounts can show whether it reflects profit, cash or another balance.
Why does the surplus matter to investors?
If Benin public firms lose money, the losses can add to government debt, so a combined surplus eases that worry. Investors will still look for audited company accounts before treating the figure as firm.
Sources: 24 Heures au Bénin, Le 8e congrès des experts-comptables de l’UEMOA s’ouvre à Cotonou, 21 October 2026; Bénin Web TV, Médenou annonce près de 300 milliards de FCFA d’excédent pour les sociétés et offices publics en 2025, 22 October 2026; Bénin Web TV, Cotonou accueille le 8e congrès des experts-comptables de l’UEMOA, 29 September 2026; IMF Country Report 26/86, Benin: Seventh Reviews Under the Extended Fund Facility and Extended Credit Facility Arrangements, April 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief