Dahomey
gained its independence from France in 1960; the name was changed to
Benin in 1975. From 1974 to 1989 the country was a socialist state; free
elections were reestablished in 1991.
Benin is an
independent republic, with a democratic government, which
lies on the Gulf of Guinea and forms part of the West African Region.
The country has two capitals: Porto Novo (admin) and
Cotonou (seat of the government). Other
major cities are Abomey and Kandi. The population of Benin was estimated
at: 5,560,000 in 1995
The official language is French and
various local languages (Hausa in the north and the languages of the Fon
and the Yoruba in the south) are also spoken. The local currency is the
CFA-Franc. Improved management and political stability is helping Benin
to keep up an annual growth rate of around 5% in spite of economic
underdevelopment and dependency on subsistence agriculture, cotton
production and regional trade.
The economy of Benin encourages free trade. The Benin oil industry and
mining industry are two key elements in the economy of the country.
Electricity is provided by the parastatal utility Societe Beninoise
d'Electricite et d'Eau (SBEE). Agriculture, Commerce and Transportation
make up the largest proportion of the GNP. The manufacturing sector in
Benin contributed 7% to the country's GDP in 1995 and focuses around the
agricultural industry, processing products and manufacturing consumer
goods and construction materials. The cement and oil refining industries
make up the only heavy industry of Benin.