BOAD approves 6 bln CFA loan to modernize Label d'Or shea operations in Togo

Agriculture

Monday, 30 March 2026 08:40

BOAD approves 6 bln CFA loan to modernize Label d'Or shea operations in Togo

(Togo First) - The West African Development Bank (BOAD) has approved a 6 billion CFA franc loan for Label d'Or SA, a Togolese company specializing in the processing of organic shea nuts. The decision was taken at the bank’s board meeting held March 25–26 in Dakar. The financing will be used to modernize the company’s industrial facilities and expand production capacity, benefiting 33 women involved in the value chain.

Located in Gbatopé in the Zio prefecture and inaugurated in February 2023, the Label d'Or plant was built at a cost of 1.8 billion CFA francs, co-financed by the company and USAID. The facility can process 30 metric tons of nuts per day, equivalent to about 4,300 metric tons of shea butter annually, with a target turnover of 7 million euros per year.

Label d'Or also receives support from the International Finance Corporation (IFC), the private-sector arm of the World Bank Group. The IFC has signed a technical assistance agreement covering financial management, ESG compliance and access to financing. The BOAD loan forms part of a broader effort to move the company up the value chain.

The company has yet to reach full capacity. To operate at maximum output, it must secure up to 10,000 metric tons of shea nuts over a short period, requiring significant financing. Competition for supply and export certification requirements also weigh on competitiveness.

Togo is one of Africa’s leading producers of shea nuts, with annual output of 20,000 to 25,000 metric tons, but most production is still exported in raw form. Label d'Or aims to strengthen the country’s position in certified processing, targeting U.S. and European markets where demand for organic shea butter remains strong in the cosmetics and food industries.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.