Benin's economy has experienced substantial growth, with its annual GDP increasing from 3% to 6% over the past decade, a rate described as a regional high. This economic expansion has coincided with a period of significant infrastructure development across the West African nation.
The capital, Cotonou, has undergone a building boom, and a new coastal road has been constructed, reducing travel times to Ouidah, the country's spiritual and cultural capital. Additionally, an industrial zone has been established north-west of Cotonou, aiming to industrialise the country's largely informal economy.
Patrice Talon, who served as president from 2016 until May this year, oversaw this rapid infrastructural development. His successor, Romuald Wadagni, won the presidential election in April, and Talon returned to a central role as president of the senate in August.
Despite the economic progress, there have been concerns regarding the distribution of benefits. The minimum monthly wage increased in January 2023 from 40,000 CFA francs to 52,000 CFA francs (£52-£68), but many residents reportedly earn less. Rent and electricity tariffs have risen by at least 15% in recent years, and fuel prices have almost doubled.