Benin National Lottery gathers shareholders for first General Assembly

The Loterie Nationale du Bénin (LNB) held its first Mixed General Assembly on Monday, June 30, 2025, eight months after joining the West African Regional Stock Exchange (BRVM). The meeting was held in the Blue Room of the Palais des Congrès in Cotonou and brought together more than 8,000 shareholders. Participants came to learn more about the company’s activities and take part in important decisions concerning its future.

In line with Article 529 of the OHADA Uniform Act, the session combined two meetings: an Extraordinary General Meeting (EGM) followed by an Ordinary General Meeting (OGM). The proceedings began with the setup of the board to oversee the session, led by Sarah Kpenou, Chair of the Board of Directors. After confirming quorum, the company moved forward with both meetings, which included a detailed review of the company’s status and a round of questions and answers with shareholders.

One of the outcomes of the assembly was the acknowledgment of LNB’s new corporate structure. Previously owned entirely by the Beninese state, the company now includes private shareholders following its public offering. This shift led to the transition from a single-shareholder public limited company to a multi-shareholder entity. In response, the shareholders voted to increase the number of board members from five to nine. The four new members were chosen based on specific conditions, such as holding at least 10% of the capital during the public offering, and to ensure minority shareholders were represented.

Chief Executive Officer Gaston ZOSSOU addressed the shareholders with a report on the company’s financial progress. He noted that since 2016, LNB’s revenue has risen from about 600 million CFA francs to over 100 billion CFA francs in 2025. Speaking directly to those with doubts about the company’s trajectory, he stated, “Tomorrow will be better,” and provided explanations meant to reassure both new and existing investors.

The General Assembly also confirmed that a large share of the company’s profits would be returned to its shareholders. According to Sarah Kpenou, 80% of the net profit—over 5 billion CFA francs from a total of more than 7 billion—will be distributed in the form of dividends. Each share will entitle its holder to a gross dividend of 290 CFA francs, to be paid out by September.

With this meeting, LNB showed that it is adapting to its new shareholder structure while maintaining profitability. The company’s leadership emphasized that its aim is not only to grow financially but to ensure that those who have invested in it also benefit from its success.