The African Development Bank has signed a $330,000 grant agreement with the Caisse des Dépôts et Consignations du Bénin (CDC Benin) under its Capital Markets Development Trust Fund (CMDTF). The financing will strengthen CDC Benin’s role as an institutional investor and expand the investor base in Benin’s capital markets.
The agreement was signed in the country’s commercial capital Cotonou on 19 February 2026 by the African Development Bank Group’s Country Manager for Benin, Robert Masumbuko, and CDC Benin Director General Maryse Lokossou.
The funding will support a capacity-building effort to enable CDC Benin to implement its fund-of-funds investment strategy, focused on financing small and medium-sized enterprises (SMEs) in Benin and across the West Africa region.
“By supporting CDC Benin in strengthening its investment capacity, the African Development Bank reaffirms its role as a trusted partner of Benin, both in mobilising innovative financing and in providing the technical support needed to structure it,” said Masumbuko.
The project will help align CDC Benin’s policies, procedures and institutional tools with its new investment activities. It will also contribute to strengthening staff expertise and developing a pipeline of potential investments, including the identification of at least three funds targeting SME financing.
“This support represents a key lever to strengthen our operational and governance capacities, as well as improve our monitoring, transparency and accountability mechanisms,” said Lokossou.
She added that the initiative aligns with a shared ambition to deepen capital market development, mobilise domestic resources and expand access to long-term financing, in line with national priorities.
“We hope to build on this initial step to develop a more structured partnership with the African Development Bank Group focused on co-financing and co-investment for SMEs, women and youth,” she said.
Aligned with Bank Group President Sidi Ould Tah’s vision for a New African Financial Architecture (NAFA), the technical assistance will help expand the base of long-term investors, strengthen the financial market ecosystem and improve access to financing for SMEs, including by supporting investments that incorporate environmental, social and governance (ESG) criteria.
“Caisse des Dépôts institutions play a strategic role in the structural transformation of African economies,” said Akane Zoukpo-Sanankoua, African Development Bank manager of the Capital Markets Development division.
“Through this support, the Bank reaffirms its commitment to helping these institutions become credible and catalytic institutional investors for the long-term financing of strategic and high-impact sectors.”
About the Capital Markets Development Trust Fund
Established in 2019, the CMDTF supports the integration and competitiveness of African capital markets through strategic reforms, strengthening market infrastructure, broadening investor bases and developing innovative instruments. The Fund is supported by the Ministry of Finance of Luxembourg, the Ministry of Foreign Affairs of the Netherlands and the Swedish International Development Cooperation Agency.
Source: AfDB