Togo adopts law implementing WAEMU anti-counterfeiting rules

Economic governance

Wednesday, 11 March 2026 12:43

Togo adopts law implementing WAEMU anti-counterfeiting rules

(Togo First) - Togo's National Assembly on Tuesday adopted a bill aimed at combating counterfeiting and other offences involving currency in member states of the West African Monetary Union (WAMU), during a plenary session in Lomé.

Lawmakers approved the text at first reading during the fourth plenary sitting of the first extraordinary session of the year. The session was chaired by National Assembly President Komi Sélom Klassou and attended by Finance and Budget Minister Essowè Georges Barcola.

The measure implements a uniform law adopted by the WAEMU Council of Ministers to strengthen protection of the common currency against counterfeiting and falsification.

The bill defines offences and penalties related to currency counterfeiting. It covers the manufacture of banknotes outside authorised conditions, the full or partial reproduction of currency without authorisation, the possession or circulation of counterfeit banknotes, and the defacement of legal tender.

The law also specifies the powers of the Central Bank of West African States (BCEAO), the regional issuing bank, notably in centralising seized currency and coordinating the fight against counterfeiting.

According to authorities, the reform aims to strengthen the legal framework protecting the Union’s monetary system and maintain confidence in financial transactions.

During the same session, lawmakers also adopted a bill regulating microfinance in Togo.

“The adoption of these laws demonstrates cooperation between the government and the National Assembly in building a modern and transparent financial and monetary framework for the benefit of the financial community and the population,” Finance Minister Essowè Georges Barcola said.

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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)

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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.