Port Autonome de Cotonou

Stock performance

History

The Port Autonome de Cotonou was created in 1964 to run Benin's deep-water port, which opened shortly before. In 2018 the government handed its management to Belgium's Port of Antwerp International under a long-term contract, as part of a program to modernize the port and cut congestion.

Business model

The port authority manages Benin's only seaport, earning fees on ships and cargo, while container and other terminals are run by private operators under concessions. It handles imports and exports for Benin and transit trade for landlocked Niger, Burkina Faso, and Mali, along with goods that are re-exported, often informally, to neighboring Nigeria.

Market position

Cotonou is one of the main ports of West Africa, competing with Lomé, Lagos, Abidjan, and Tema for transit traffic to the Sahel.

Country impact

The port handles the large majority of Benin's foreign trade and generates a large share of customs revenue, making it the economic heart of the country. Disruptions to transit trade, such as Nigeria's 2019 border closure or the border tensions with Niger after its 2023 coup, hit Benin's economy directly.