Benin triples number of companies opened by youth.

Not everyone can turn the theft of a cell phone into a good experience. But then again, not everyone is Richard Odjrado. When this young Beninese entrepreneur's phone was stolen - for a second time - he transformed calamity into ingenuity.

Mr. Odjrado, 34, has created a revolutionary anti-theft tracker for smartphones that alerts the owner if the phone is moved without their permission, enabling them to locate it if it's lost or stolen. The tracker is also operated from a smart watch he's designed.

He spent nearly two years researching and developing his anti-theft solution before launching his company AS World Tech, which also makes glasses and laptops.

Boom for registrations

Between 2019 and 2022 the number of young people opening new businesses in Benin skyrocketed, more than tripling from 7,416 registrations to 23,312.

'That's growth of 212%,' says Laurent Gangbes, chief executive of the Agency for the Promotion of Investments and Exports (APIEx) in Benin, who's behind an initiative to digitize government services and make it easier to do business in the West African nation.

The boom is powered by low-code software developed by UNCTAD, and 'demonstrates a national demand for digital services that support entrepreneurial ambitions,' Mr. Gangbes added.

Young people drive new businesses in Benin

2019

2022

2019-2022

Total new businesses

27 379

56 579

+107%

Founded by women

8 936

18 764

+110%

Founded by age 18-30

7 460

23 312

+212%

Source: UNCTAD

UNCTAD developed the MonEntreprise.bj platform in 2020, using its ground-breaking software custom-built to help businesses launch efficiently online.

Benin is committed to establishing a digital business environment that delivers innovative services to the private sector and enables businesses to thrive. 'Their story is one of an enabling environment realized,' says Frank Grozel, UNCTAD's head of business facilitation.

The UNCTAD-Benin business facilitation project is supported by the Netherlands.

The software has been deployed in 10 other developing countries and counting, lowering barriers to entry into the business world in Argentina, Bhutan, Burundi, Cameroon, Cuba, El Salvador, Guatemala, Iraq, Lesotho and Mali.

Digital-enabled growth

Mr. Odjrado's company is now thriving because of the digital-first approach taken by Benin's government. The MonEntreprise.bj platform saved him a lot of time and hassle, he said.

I didn't have to run around to different government offices to get the necessary...