The correct answer is option 2. Here`s how the countries` old names match their new names:

A. Benin - was formerly known as Dahomey (5). Dahomey was a West African kingdom that was located in the area of the current country of Benin.

B. Belize - was formerly known as British Honduras (4). British Honduras is the old name of Belize, which came into effect after the country gained independence from Britain.

C. Botswana - was formerly known as Bechuanaland (3). Bechuanaland was a British protectorate that became the independent Republic of Botswana in 1966.

D. Malawi - was formerly known as Nyasaland (1). Nyasaland was a British protectorate in Africa, which became Malawi in 1964 when it gained independence.

Options 1, 3 and 4 do not accurately align the old and new country names, making them incorrect.