In a major step toward strengthening the country’s digital economy, Benin has officially launched the Digital Entrepreneurship Support Fund (FAEN), aimed at empowering start-ups and fostering innovation across the nation.
The initiative was formalized on Wednesday, October 1st, during a ceremony at the headquarters of the Small and Medium Enterprise Development Agency (ADPME), under the supervision of the Ministry of Digital Affairs and Digitalization.
The fund, established through a partnership between ADPME and the International Bank for Industry and Commerce (BIIC), seeks to provide Beninese start-ups with financial support tailored to both early-stage ventures and growing enterprises.
In his address, Arsène Dansou, Director General of BIIC, described FAEN as “an instrument of transformation,” highlighting its focus on research and development, productive investment, and working capital needs for entrepreneurs. He added that the bank’s involvement positions it as “a trusted catalyst and supporter of innovative projects.”
Laurent Gangbès, Director General of ADPME, emphasized the dual objective of the fund: supporting start-ups at the seed stage while also aiding established companies seeking to expand.
He underlined that the fund’s application process would be transparent and simplified, facilitated through the e-PME online platform. Entrepreneurs will also benefit from incubation and capacity-building programs, provided in collaboration with partner support structures and backed by Luxembourg cooperation.
Speaking directly to the start-up community, Gangbès urged innovators to focus on their projects while the government and financial institutions remove obstacles to growth.
“The launch of FAEN illustrates a successful synergy between the government, the banking sector, and support structures, essential for stimulating competitive, inclusive, and sustainable digital entrepreneurship in Benin,” he said.
FAEN is expected to play a pivotal role in consolidating Benin’s position as a hub for digital innovation in West Africa, providing both financial backing and strategic guidance to foster a new generation of technology-driven enterprises.
Observers note that initiatives like FAEN could transform Benin’s entrepreneurial ecosystem, encouraging investment, job creation, and sustainable growth in the digital sector.
About The Author
