Investments Fair puts Beninese Municipalities' resources and potential in the spotlight
Unlocking Benin’s local economic potential through public-private partnerships: Highlights from SIC 2024
In Benin, local authorities struggle to attract investors and businesses, which limits economic opportunities and local employment. The majority of communal investments depend on funding from the State and technical and financial partners. Despite the existence of a legal framework for public-private partnerships (PPPs), local authorities are not fully exploiting private-sector opportunities.
On September 12-13, the Private Investments in Municipalities’ Fair (SIC 2024) brought together over 200 key players in Benin’s local economic development. Sponsored by Ambassade du Royaume des Pays-Bas au Bénin and GIZ Bénin , this event marked a significant step towards fostering public-private partnerships (PPPs) and unlocking investment opportunities for municipalities.
At SIC 2024, local authorities and the private sector came together to:
🌍 Promote local economic projects with high potential for growth
💼 Facilitate business connections between municipalities and investors
🤝 Establish strategic partnerships to fuel job creation and local development
The event was a dynamic platform where sectoral ministries, mayors, financial institutions, and SMEs engaged in vital discussions on territorial attractiveness, SME financing, and the road ahead for PPPs. Among the highlights:
📈 presentation of the main results of the PartiCiP au DEL project, including 10 tools developed to help stakeholders take ownership of LED; 37 initiatives to promote local economic potential in municipal planning documents; development of LED-based Participatory Budgets.
🏙️ 2 multi-stakeholder panels: "Territorial attractiveness and PPP practices" and "Stepping up financing for SMEs/SMIs", clarifying the legal framework for PPPs and highlighting the products and services offered by banks and other structures to promote the local economy.
🛠️ Marketing of local territories by municipalities: presentation of the economic assets of their areas, leading to B2B sessions on promising projects such as palm oil production and the initiatives of certain municipalities
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Next steps:
🔗 Establish a permanent platform for ongoing collaboration between investors and municipalities
💸 Promote easier access to tailored financing for local authorities and SMEs
🎯 Strengthen the capacity of local actors to navigate the PPP legal framework and secure project funding
With the momentum from SIC 2024, we are building a stronger foundation for sustainable local growth in Benin.
Former Ambassador to Swiss Confederation, Austria, Slovenia, the Principality of Liechtenstein, the Holy See and Permanent Representative to the UNOG , UNOV and other international organizations in Geneva and Vienna
1moA very good initiative. Congratulations.