Togo: Sociopolitical crisis causes companies’ results to drop (CCIT)

Economic governance
Friday, 13 April 2018 17:35
Togo: Sociopolitical crisis causes companies’ results to drop (CCIT)

(Togo First) - This is one of the conclusions of an investigation, ordered by the Chamber of Trade and Industry of Togo (CCIT), on the impact of sociopolitical crisis that has been occurring in the country since August 19, last year, on the economy.   

Sample population for the study comprised 912 companies operating all over the nation: SMEs and SMIs with less than 10 employees and big firms with at least 250 employees.

According to the report, 71.93% of firms surveyed said their turnover fell, while 82.77% said their performances decreased since the crisis began. Meanwhile, 74.34% of the companies declared they are presently in a bad financial situation. For most of the firms, the slump in turnover ranges between 25 and 50%.

CCIT’s initiative, to conduct the study, aimed at drawing the attention of the crisis’ protagonists (government-opposition) on the consequences that the situation could have for the economy if it lasts. Germain Meba, President CCIT, in fact said that leaders from the two opposing sides would benefit from reaching an amicable solution, since “none of them would be able to lead a country with a suffocating private sector and an economy on its knees”.      

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