(Ecofin Agency) - • Benin is accepting applications for the "Next Impact" program until June 14, offering funding and support to young entrepreneurs.
• Selected projects can receive up to CFA30 million and benefit from six months of training, coaching, and expert access.
• The program targets key sectors like agro-industry, green economy, and tech to help build strong, job-creating businesses.

Benin is stepping up its efforts to support young entrepreneurs through the “Next Impact” program. Applications are open until June 14, 2025, for young innovators ready to build local businesses. Backed by the World Bank through the PF2E project (Employment and Entrepreneurship Training Project), the initiative offers up to CFA30 million in funding.

More than just money, the program includes six months of hands-on training, business coaching, and access to a network of experts to help participants shape their ideas into real businesses.

The program is open to projects in priority areas such as agro-industry, light industry, cultural and creative industries, green economy, deeptech, and high-value services. The goal is to develop strong, competitive companies that fit the local market and can create jobs. A representative from Sèmè City, one of the program’s partners, explained that the aim is to help youth turn their ideas into successful businesses that create value in Benin.

However, the local business environment remains tough. A 2021 report by the Business Creation Observatory found that only 20% of youth-led businesses in Benin survive. Challenges like poor access to financing, limited training, and weak support systems hold many startups back. These are the exact problems "Next Impact" wants to fix.

Still, there are concerns. The real success of the program will depend on how well projects are selected, the quality of training provided, and whether entrepreneurs can sustain their businesses after the program ends. Without long-term support, easier market access, and simplified procedures, the impact of “Next Impact” may fall short.