Banking

Monday 25 April, 2022
Togo: Government announces a new strategy to make local microfinance sector more performant
Banking

Togo: Government announces a new strategy to make local microfinance sector more performant

Last Thursday, during the council of ministers held in the Savanes region, the ministry of finance presented a “new strategy”…
Thursday 7 April, 2022
Orabank Togo to launch a new product to protect importers and exporters against foreign exchange fluctuations
Banking

Orabank Togo to launch a new product to protect importers and exporters against foreign exchange fluctuations

To shield economic operators (importers and exporters) against fluctuating foreign exchange rates, Orabank Togo recently launched a new product called…
Thursday 7 April, 2022
Togo: In 2021, private banks loaned CFA1,425 billion to the private sector, up 9% y/y
Banking

Togo: In 2021, private banks loaned CFA1,425 billion to the private sector, up 9% y/y

Last week, during the National Credit Council (CNC), Togo’s minister of finance and economy, Sani Yaya, affirmed that bank lending…
Thursday 31 March, 2022
Ecobank reports 174% increase in pre-tax profit in 2021
Banking

Ecobank reports 174% increase in pre-tax profit in 2021

Ecobank, the Lomé-based pan-African banking group, has announced a pre-tax profit of $478 million for 2021, an increase of $304 million, or…
Thursday 3 March, 2022
Oragroup gets €15M from Eco.business to finance sustainable agribusinesses
Banking

Oragroup gets €15M from Eco.business to finance sustainable agribusinesses

The Lomé-based pan-African banking group Oragroup has secured €15 million from Eco.business, a European fund. According to a joint statement that…
Wednesday 16 February, 2022
BOAD gets half the amount it needs to double its capital
Banking

BOAD gets half the amount it needs to double its capital

The West African Development Bank (BOAD), has completed the first stage of its capital increase, raising CFA837 billion, with the…
Wednesday 9 February, 2022
Togo adopts draft bill to help SMEs thrive by easily resorting to invoice factoring
Banking

Togo adopts draft bill to help SMEs thrive by easily resorting to invoice factoring

Invoice factoring could soon become more accessible to businesses in Togo. Indeed, the country’s council of ministers adopted last Monday…
Friday 28 January, 2022
GuarantCo provides Orabank Togo CFA14.55B guarantee to finance telecom and road projects
Banking

GuarantCo provides Orabank Togo CFA14.55B guarantee to finance telecom and road projects

GuarantCo has granted Orabank-Togo a CFA14.55 billion guarantee to finance road and telecom development projects in Togo. This is the…
Wednesday 12 January, 2022
Togo: Covid-19 pushed up the number of new e-money accounts by 20.85% in 2020, y/y
Banking

Togo: Covid-19 pushed up the number of new e-money accounts by 20.85% in 2020, y/y

More than 5.7 million new e-money accounts were created in Togo in 2020, up 20.85% compared to 4.71 million accounts…
Tuesday 14 December, 2021
US magazine The Banker names Ecobank best bank of the year in Togo, for the second consecutive year
Banking

US magazine The Banker names Ecobank best bank of the year in Togo, for the second consecutive year

Ecobank Togo, a subsidiary of the eponymous pan-African banking group, was named best bank of the year by The Banker,…
Tuesday 14 December, 2021
BTCI’s privatization is official, it is now IB Bank Togo
Banking

BTCI’s privatization is official, it is now IB Bank Togo

BTCI, a fully public Togolese bank, has been officially privatized. It is now part of IB Holding, which is owned…
Thursday 25 November, 2021
AfDB provides a BOAD €150M loan facility to support the private sector in WAEMU
Banking

AfDB provides a BOAD €150M loan facility to support the private sector in WAEMU

The West African Development Bank (BOAD) will soon get a €150 million (CFA98 billion) credit facility from the African Development Bank…
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