SA's TransNet to Upgrade Benin Port
Transnet Port Terminals (TPT) is extending its footprint beyond the borders of South Africa with a team that has taken occupation at the Port of Cotonou in Benin, West Africa, to deliver on the BeniSA Maritime Project.
The project team has wide-ranging credentials and 46 years of accumulated experience in port operations, planning, safety, continuous improvement consulting and Lean Six Sigma methodology to kick-start the stabilisation phase of the project.
“This is an indication of the depth of talent that TPT possesses. This is an exciting time for them and for the company as a whole and a great way for us to begin the New Year,” said TPT’s chief executive Karl Socikwa.
The team, which consists of Lulamile Mtetweni, Samson Jose…
Growth Outlook predominantly positive
Benin’s gross domestic product ( GDP) will run slightly higher to reach 6 % in 2015 from 5.7 % expected for 2014, according to Beninese Minister of Economy, Finance and Denationalization Programs Komi Koutche told Xinhua.
The minister said the forefront convergence indicators such as taxation rates, public investment rate and the overall deficit would stand out respectively at 16.1 %, 8.4 % and 4.8 % of the GDP in 2015, against 16.4 %, 6.9 % and 3.1 % of the GDP in 2014. The economic growth assumptions for 2015 are mainly based on a favourable trend in the prices of exported raw materials, the growth of the agricultural production, particularly food crops and cotton production which would reach 400 000 tons and the continuation of po…
Benin receives Loan from World Bank
The Board of the World Bank today approved the Eighth Poverty Reduction Support Credit (PRSC-8) in the amount of US$30 million (about FCFA15 billion) for the Republic of Benin. This new operation which will be released in a single tranche is designed to support economic and structural reforms closely aligned with the country’s third Growth Strategy for Poverty Reduction (SCRP 2011-2015). PRSC-8 builds on the reforms supported by the previous budget support operation (PRSG-7) and will help strengthen Benin’s public administration and public sector governance (budget planning and execution, procurement, internal control and audit, and anti-corruption measures). It will also focus on private sector competitiveness through a strengthened bu…
ID Cards will further Business between Benin and Nigeria
Ambassador Lawrence Obisakin, Nigeria Ambassador to the Republic of Benin, said that a new identification card would soon be issued to prospective investors in order to boost economic activities between the neighbouring ECOWAS countries. Obisakin said this on Thursday in an interview with the News Agency of Nigeria (NAN) in Badagry, Lagos State. “We are making plans to create a new identification card, which would facilitate human movement across the border. Priority should be given to Nigerians because we are close to Benin Republic; so, we want to create an identification card that would be issued from the Nigerian Embassy. It would be on the same footing with that of all Francophone countries. “The card would be bilingual —in French a…