1st AGM of the LNB: “Tomorrow will be better”, says Gaston ZOSSOU
Eight (08) months after its introduction to the Regional Stock Exchange (BRVM), the National Lottery of Benin (LNB) held its very first Combined General Meeting. It took place on Monday, June 30, 2025, in the blue room of the Cotonou Congress Palace. Significant resolutions were made during this meeting to the delight of over eight thousand (8000) shareholders of the company.
In accordance with legal and regulatory provisions, particularly article 529 of the uniform act of the Organization for the Harmonization of Business Law in Africa (OHADA), the National Lottery of Benin (LNB) held on Monday, June 30, 2025, its very first Mixed General Assembly (AGM). Two activities in one: an Extraordinary General Meeting (EGM) followed by an Ordinary General Meeting (OGM).
For the occasion, the blue room of the Cotonou Congress Palace was packed to the brim. It could not contain the flow of highly motivated shareholders eager to participate in the AGM and learn more about the company’s performance in which they heavily invested.
This AGM was marked by several highlights, including the constitution of the bureau leading the session. This team was masterfully chaired by the Chairwoman of the Board of Directors, Ms. Sarah Kpenou. This was followed by the quorum check, and then the holding of the EGM, and the OGM, all punctuated by a series of questions and answers.
A new legal form
The Combined General Meeting observed that new shareholders joined LNB’s capital, while just less than a year ago, the Beninese state was the only shareholder of the company, and the Council of Ministers was the main decision-making body. This observation implies the transformation of the company from a Single-Member Corporation (SMC) to a Multi-Member Corporation (MMC).
Taking note of the new legal form taken by the company following its introduction to the stock market, LNB’s owners decided to increase the number of board members from 5 to 9. The four new members joining the board of directors were selected based on specific criteria, notably: having subscribed to at least ten percent (10%) of LNB’s capital during the Public Offering (PO) and to ensure representation of minority shareholders through the individual who made the largest subscription to this operation.
A golden hen
LNB is currently one of the most high-performing companies in Benin. And the General Director, Gaston ZOSSOU, once again confirmed this to the brand new shareholders of the company. According to him, from 2016 to date, the company’s turnover has practically multiplied by 100, increasing from less than one billion (about 600 million) to over 100 billion.
Thus reassuring shareholders who still have a hint of doubt, he stated: “tomorrow will be better”, dispelling in the process, through pointed, detailed and altogether convincing explanations, all concerns.
And LNB hasn’t finished spreading joy. Like a golden hen, it seems like it was created just to distribute happiness around it. With it, without a shadow of a doubt, prosperity is truly shared. As proof, the Chairwoman of the Board of Directors, Ms. Sarah Kpenou officially announced that 80% of the company’s net result will be distributed to shareholders through a dividend of 290FCFA gross per share. Thus, from a net result of over 7 billion, just over 5 billion will be allocated for the payment of dividends to the shareholders by September at the latest.