Businesswomen in West Africa lose 38% of their profits and 34% of their monthly revenues (World Bank)

Economic governance

Thursday, 25 April 2019 10:41

Businesswomen in West Africa lose 38% of their profits and 34% of their monthly revenues (World Bank)

(Togo First) - Businesswomen in West Africa lose 38% of their profits and 34% of their monthly turnover, compared to their male counterparts. This was revealed in a recent study by the World Bank discussed at the first-ever regional financing initiative in support of businesswomen, in Côte d’Ivoire.

The situation is due to some challenges and barriers preventing women from fully participating in the economy. These include for example “access to financing, markets, technology and support or capacity-strengthening programmes.”

During the regional initiative a joint call-to-action targeting public and private actors was issued so that significant reforms and measures are rapidly taken to pull down barriers hindering the emergence of businesswomen.

In addition, governments were urged to initiate political and regulatory reforms to improve these women’s access to financial services, public markets and infrastructures related to the digital economy. Also, the meeting’s participants asked for roadblocks impairing the activity and mobility of businesswomen as well as equal ownership rights to be quickly removed.

In this framework, Togo plans to have, by 2020, 28% of women-entrepreneurs and provide access to credit to 44% of its women population.

Séna Akoda

Cooperation: Togolese Top Officials meet with Commonwealth Enterprise and Investment Council

Togo: Government Launches Energy Training Program Targeting 500 Young Men and Women

Togo to Launch Malaria Chemoprevention Campaign in Plateaux Region in 2024

Lomé Meeting Tackles Airport Safety: ASECNA's Integrated Logistics Support Review and Training

lome-meeting-tackles-airport-safety-asecna-s-integrated-logistics-support-review-and-training

Togo: University of Lomé Hosts Second Edition of Innovation Crunch Time

togo-university-of-lome-hosts-second-edition-of-innovation-crunch-time

ExpandPF Project Evaluates Healthcare Facilities in Togo for Reproductive Health Support

COOPEC-Blitta: Balance Sheet Totals CFA1.3 billion in 2023, up 12% YoY

Togo: CNSS Announces Mandatory Life Check for Pensioners and Annuitants in May-June 2024

Anti-Terrorism: President Gnassingbé Calls for the Reorganization of Military Cooperation in West Africa

anti-terrorism-president-gnassingbe-calls-for-the-reorganization-of-military-cooperation-in-west-africahttps-www-togofirst-com-fr-securite-2304-13894-lutte-contre-le-terrorisme-faure-gnassingbe-plaide-pour-une-nouvelle-organisation-de-cooperation

Togo: New ECOWAS Committee Launches to Bolster Healthcare Delivery

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.