EXCLUSIVE: Intercontinental Development Corporation Signs $3.2 Billion Memorandum of Understanding with Benin Government
Cotonou, September 2011
Benin is a beautiful, coastal African Country with a population of close to 9 million and a rich history that connects it with nations around the globe. Thousands of International tourists visit every year, taking advantage of easy flights in from Europe, the United States and Moscow, Russia. These guests arrive at the Benin International Airport daily, lured not only by the lush tropical flora and fauna, but also by the museums and the architectural legacy of the brief French rule. Americans who visit this breathtaking country often travel from the Capital of Porto Novo on the the pristine Atlantic coast to the captivatingly beautiful Lake Nokoue’ and on to the Pendjari National Park.
The current President of Benin, Dr. Thomas Boni Yayi was born in Tchaouru, Dahomey, Benin and earned his degree in economics at the National University of Benin. With his every thought on how he could improve the lives of his country people, he continued his pursuit of economics through a Doctorate at the University of Orleans in France and again at the Universite’ d Paris. He then returned to his country, working in the banking industry until his election as President of that country as an independent in 2006.
Since then President Boni Yayi has focused on the variety of issues that plague his country, the foremost of which is to improve the infrastructure of his country without sacrificing the quality of life to smog and pollution. His goal is to use the economic engines of Trade and Tourism to end poverty and the problems it brings with it.
In 2007, Ekram J.Miller of IDC took a close look into the infrastructure problems and economic woes of several West African Countries. When the Benin Minister of Transport, H.E. Armand Zinzindohoue first brought the poor condition of Benin’s roads and railways to the attention of Mr. Miller, he immediately hired experts to examine the situation. Between early 2008 and August of 2011 Mr. Miller conducted meetings with H.E. Ambassador Cyrille S. Oguin and Prime Minister, H.E. Hon. Pascal Koupaki.
These meetings concluded at the end of August in 2011 when Ekram Miller met with Benin President, Dr. Boni Yayi at the Benin Embassy in Washington, D.C. After these promising meetings, President Yayi extended his personal invitation for Ekram Miller and the IDC Feasibility Team to visit his country in September of 2011.
Mr. Ekram Miller worked on the details of this visit with the Prime Minister of Benin, H.E. Honorable Pascal Koupaki in the IDC headquarters in Maryland, USA. They drafted a detailed and exclusive Memorandum of Understanding which outlines the projects most valuable to the citizens of Benin. Mr. Miller agreed to present it to President Dr. Boni Yayi during the September meetings in Benin.
E.J. Miller’s company, Intercontinental Development Corporation, paid the cost of the initial visit of the IDC team to Benin. Immediately upon arrival, Mr. Miller began meetings with President, Dr. Boni Yayi and other ministers to develop ecologically sound projects to enhance the national economy, create jobs and encourage eco-tourism.
- During these meetings the Master Plan discussed by Mr. Miller and President Yayi earlier in 2011 was refined into Eleven Basic
- Projects for the betterment of Benin. These projects encompass the Economic Issues that President Yayi began focusing on during his 2006 election, and include:
- Improving and expanding the drinking water systems for the entire country.
- Building new hospitals throughout Benin’s province cities and Cotonou while modernizing the entire National Health Care System.
- Expanding public infrastructure beginning with electricity.
- Expanding and improving the national railway system, and creating a 21st century interprovincial highway system.
- Establish a National Airport focused on tourism and trade.
- Establish a National Airline
- Establishment of an American University and Administrative Tower
- Construction of Low Cost Housing.
- Establishment of a guaranteed home loan system for the general public, similar to but less complex than the US Federal Housing Administration
- Identification of New Mineral Resources
- Identification and protection of specific Natural Resources
E.J. Miller also discussed implementing a monorail system that would save the average citizen of Benin close to 750CFA daily while cutting travel time to and from work by 70%. This Monorail would be similar to the one scheduled for Accra, Ghana and will rely on the new, green technology to minimize the ecological impact.
Miller also discussed implementing a monorail system that
After President Boni Yayi signed the Exclusive $3.2 Billion Memorandum of Understanding with Intercontinental Development Corporation, he then met with the Ambassador of India and the Ambassador of the Republic of China. Last year, the Peoples Republic of China agreed on $9.3 billion to Africa, specifically the countries of Benin, Gabon, Ghana and Sudan, to develop modern hydroelectric generation facilities and other necessary infrastructure.