West African CFA franc (XOF)
While cash remains the dominant payment method in Benin, there has been an increase in the popularity of mobile money. The government has taken steps to encourage digital payments, such as facilitating interoperability between mobile money operators. However, the introduction of sector-specific taxes on digital transactions, including money transfers and withdrawals, is aimed at boosting domestic tax revenues.
Population
Banked Population:
Main industries
Cotton, Textile, Agriculture, and Oil
Main imports
Rice, Cars, Palm Oil, Poultry Meat,
and Light Pure Woven Cotton
Main exports
Gold, Raw Cotton, Refined Petroleum,
Oily Seeds, and Coconuts, Brazil Nuts, & Cashews
$1,303.2
Per capita (USD)
6.3%
Growth annually
138
World ranking
Total volume of digital payments projected to reach
$4,260.00M (USD)
Mobile Money
Mobile Money
Mobile Money
Mobile Money
Mobile Money