The Republic of Benin is the first country in the world for the ease of setting up a business from your mobile phone. The small West African country ranks the same as Estonia but is ahead of New Zealand, Georgia, Hong Kong and China. Many young Africans, bombarded daily by the Africa-bashing of mainstream media, will not believe it. Yet that is what Iran Richard, Economic Affairs Officer in the Investment and Enterprise Divisions of the United Nations Conference on Trade and Development (UNCTAD) has said.
In an article published in November in the Inter-Press agency and taken up by UNCTAD, Ian Richards maintains that the creation of a business in Benin is done in ten minutes on the platform mon.entreprise.bj managed by the Agence de Promotion des Investments and Exports (APIEx).
“The procedure is simple in Benin to create your own business. You just have to log in and provide your information, photograph and upload your ID documents and pay the subsequent fees. A few hours later, an e-mail is sent to you with the documents of incorporation of your company,” affirms the economist in comments reported by www.24haubenin.info.
Benin business registration Benin business registration
The various reforms were registered by Benin since the arrival of President Patrice Talon to power in 2016. The country’s Minister of Finance, Romuald Wadagni, was recently awarded with the trophy of Best Minister of Finance on the sidelines of the third edition of the Financial Afrik Awards. The country also recently celebrated the issuance of its latest eurobond, (the first for an African country in 2021) a few days ago on the international financial market.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer