Togo: 2020 practical guide for business officially launched

Economic governance

Friday, 18 December 2020 15:48

Togo: 2020 practical guide for business officially launched

(Togo First) - Yesterday, the 2020 Practical Guide for Business was launched in Lomé. The launching ceremony was attended by various business owners, representatives from different ministries, and the Director-General of Togo Invest.

According to Jean-Paul Agbo-Ahouelete, managing director of Focus Yakou and incidentally co-writer (with the Chamber of trade and industry of Togo - CCIT) of the 200-page document, it “provides investors or economic operators with information on the economic life of our country, as well as clear and precise answers to their concerns.”

Agbo-Ahouelete added that the document’s goal is to promote Togo as an investment destination, in an extremely competitive regional context. In this framework, the guide highlights the various structural reforms related to the business climate. For every investor, “the most important thing is to rapidly access useful, reliable, and precise information concerning the market they are entering.”

Divided into four parts - how to start a business, investment opportunities, factor costs, and practical innovations - the guide “is not a replacement to the advice given by law firms, notaries, and consulting firms nor is it a foresight analysis manual,” the head of Focus Yakou further observed.

During the launching ceremony, two roundtables were held. They were themed “What ambitions for the Adétikopé Industrial Platform, the Kékéli Thermal Power Plant and the Photovoltaic Power Plant in Togo?” and “Covid-19 crisis: opportunities for innovation in business, labor law, and social interactions.”

The two panels were hosted by eminent figures of Togo’s political and economic sphere. Such figures include Adjadi Bakari Shegun, Special Advisor to the President of the Republic for Energy, Ekue Mivedor, DG of Togo Invest, Eric Goulignac, CEO of Heidelbergcement Group’s companies in Togo, Alain Hountondji, CEO of ADKontact and Mr. Tiburce Monnou, a lawyer at the Court.

The panels were an occasion to assess progress made so far relating to the energy sector, the country’s ambitions, and adapting to the current context.

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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.