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Benin's financial freedom score is 61.0, ranking it at 81 in the 2022 Index. Benin is categorized 6th of 47 countries in Sub-Saharan Africa, it has a general score greater than the zonal and universal standards. From 2017, the country retained positive financial development with a five percent compound growth rate. Over five years, economic freedom has risen by 1.8 points and as such, it is categorized as "Moderately Free". Government spending and monetary freedom scores are strong.
1 January- New Year's Day
10 January- Fête du Vodoun
18 April- Easter Monday
2–3 May- Eid al-Fitr
26 May- Ascension Day
6 June- Whit Monday
9–10 July- Eid al-Adha
1 August- Benin Independence Day
15 August- Assumption of Mary
7–8 October- Prophet's Birthday
1 November- All Saints' Day
25 December- Christmas Day
The minimum wage is calculated depending on the legal hours worked, CFA 2400/year for farm laborers, and CFA 40 hours/week for other employees. Benin has a minimum salary established by the government. No employee in Benin can be compensated less than the statutory minimum wage. Companies in Benin that do not pay the minimum wage may face a penalty from the Benin government.
For employees whose salaries are determined by the hour, the payment interval cannot take 15 days. For employees who are paid monthly, the payment interval cannot take surpass one month. Monthly payments are due within eight days of the end of the month.
A full-time worker's yearly paid leave obligation is 24 official days, with rises at rates including
Female workers can receive six weeks paid leave pre-birth and eight weeks post-birth, with the employer and social insurance splitting the payment.
Fathers receive a 3-day paid paternity leave.
Employees who have worked for less than two years in a company can receive a 6 month paid sick leave. Employees who have worked for more than two years can receive a 12-month sick leave.
Employees who have worked five or fewer years in a company can receive 3-months at full reimbursement and 3-months at half reimbursement.
Employees with more than five years of employment can receive full reimbursement for 6 months.
Companies can dismiss an employee for justified purposes such as:
The notice time in Benin is:
Employees are allowed severance pay, the compensation amount is based on the period of employment:
In Benin, the probation period extends to 3 months.