Benin is a French-speaking country in Western Africa. Using ABiQ’s forecasting tool, we predict the population will increase 29% over the next 10 years to reach 15.7 million from the current 12.1 million.
Benin’s economy has been dependent on subsistence agriculture and cotton export. The government has taken initiatives to develop infrastructure, agriculture, and other sectors to help boost the economy. The country had a GDP of $11 billion or over $1,200 per capita in 2019.
Power and water:
The government aims to improve the electricity access rate in both rural and urban areas by 2025. Benin desires to generate 25% of its energy from renewable sources by 2025. We expect the country will require 140 megawatts of additional electricity generating capacity by 2030 to meet its increasing demands.
Benin has set a target of achieving universal access to drinking water by 2021. The government has invested in developing infrastructure for distributing and storing water. This resulted in improving the potable water access rate to 70%. We believe the country will require 260 million cubic metres of potable water per annum over 10 years to maintain the current access rate.
The retail market in Benin has grown in recent years. International retailers have entered the market and plan to expand their network. We expect the country will need 400,000 square metres of additional retail space by 2030 to meet the demand.
A 5-year strategy announced in 2015 has helped the country focus on its healthcare sector. The country is also working with local NGOs to improve the network of healthcare workers. Using our unique forecasting tool, we expect the country will require 25 hospitals over the next 10 years to help maintain the current healthcare standards.
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|Population in 2020||12.1 million|
|Population by 2030||15.7 million|
|Population growth from 2020 to 2030||29 %|
|GDP 2019 (est)||$ 11 bn|
|Electricity Capacity required by 2030||140 MW|
|Additional Potable Water required per annum by 2030||260 million m3|
|Additional retail by 2030||400,000 m2|
|New Hospitals required by 2030||25|