Digital Financial Services in Benin: Sector Overview

Overall, the digital financial services (DFS) market in Benin is lagging behind its neighbours. With only three e-money licensed providers, including two that received their license in late 2013, the offerings are still very limited both in terms of service points and products. The size of the market is also fairly small, and the unique regulatory framework in the West African Economic and Monetary Union zone may have led regional players to prefer larger markets such as Côte d’Ivoire and Senegal.