I am a 2026 IESE MBA living in Cotonou, and I have spent the past months testing whether the search fund model fits Bénin and Côte d'Ivoire. Three findings from that work: - EUR 100 converted into CFA francs in 2015 was still worth EUR 100 inredactedThe franc has been fixed to the euro since 1999, and France guarantees its convertibility. The same EUR 100 was worth EUR 80.9 in Mexican pesos. - The eight-country currency union grew 6.6% in 2025, against 4.5% for ASEAN-5 and 2.5% for Latin America (IMF). - One search fund acquisition is on record in the union. I put the evidence in a 24-page guide covering the currency, getting money out, politics, growth, who is already investing and exits, with every figure sourced. My question to investors and searchers who have looked at emerging markets: what would stop you from backing a search here? The hardest objections help me most. I am happy to send the full guide by message.redacted