West African Development Bank Funded YATT&CO Expansion

The bank approved $30.3 million in financing to support the acquisition of oil infrastructure assets in Benin.

Updated on Sept. 28, 2026 in Oil and Gas

Bold vector editorial illustration of a steel petroleum storage tank and pipeline, representing industrial energy infrastructure. — The West African Development Bank has approved a $30.3 million financing facility to help YATT&CO expand its petroleum storage and logistics infrastructure in Benin. AI Illustration. Upload story photo >

Live Poll

Do you believe corporate infrastructure expansion in the fuel market lowers energy prices for residents?

The West African Development Bank (BOAD) has approved a $30.3 million financing facility for YATT&CO. This capital will enable the firm to acquire a petroleum terminal, storage facilities, and service stations.

Why it matters

The investment aims to expand the company's footprint beyond fuel distribution into logistics and storage. This move follows shifting market conditions in Benin triggered by Nigeria's 2023 fuel subsidy removal.

The financing package is valued at $30.3 million, or CFA17.5 billion, and significantly exceeds the company's established share capital of CFA500 million. Formal fuel distribution in Benin has surged, rising from 11% to 27% market share since 2023.

The players

West African Development Bank

Also known as BOAD, this regional institution provides development financing to support economic integration in West Africa.

YATT&CO

This energy firm operates across multiple countries including Togo, Mali, and Cote d'Ivoire.

Yattassaye & Company Energy International

Headquartered in Lome, this entity serves as the corporate vehicle for managing business investments and energy assets.

The details

YATT&CO plans to utilize the funds to bolster its presence across the petroleum value chain by acquiring critical storage and terminal assets. The expansion strategy reflects a response to the growing demand for formal fuel distribution channels in the region.

Nigeria removed fuel subsidies in May 2023.
Benin introduced a new petroleum licensing framework in 2023.
Yattassaye & Company Energy International was established in 2026.
The West African Development Bank approved the financing in September 2026.

Market Landscape

This investment highlights the ongoing consolidation of formal fuel distribution networks in West Africa following Nigeria's decision to eliminate fuel subsidies. As independent distributors scale up through infrastructure acquisitions, they are positioning themselves to compete with legacy players in a rapidly professionalizing market.

Consumers in Benin may see increased availability of regulated fuel products as the formal distribution network expands. This transition could eventually lead to more stable supply chains at local service stations.

The takeaway

Regional energy distributors are increasingly leveraging institutional capital to modernize infrastructure and capture market share. This shift marks a broader transition toward formal, regulated energy sectors across West African nations.