Togolese gvt’ signs updated charter for MSMEs

Economic governance
Thursday, 25 November 2021 15:28
Togolese gvt’ signs updated charter for MSMEs

(Togo First) - The Togolese government and the private sector officially signed on Tuesday the new charter for micro, small, and medium-sized enterprises (MSMEs). The agreement paves the way for the provision of this updated document to the actors of this sector.

The document was initialed by the minister for financial inclusion and the informal sector, Mazamesso Assih, representing the government, and the respective bosses of the coalition of Togolese small and medium-sized businesses (GTPME/PMI) and the national council of employers, Innocent Démanya Ayivi and Laurent Tamegnon, who represented the private sector.

The charter defines the general framework of incentives established to foster MSMEs’ growth as well as obligations and commitments of actors concerned. Its implementation will "facilitate the formalization of informal businesses," said the minister of informal sector.

The government believes the charter is good news for Togolese businesses as it will help provide non-financial support to MSMEs, especially regarding "land and registration procedures, and also to secure financing". It "will also allow MSMEs to form a strong unit, and consequently access financing mechanisms more easily," according to the minister of communication and media, Prof Akodah Ayewouadan.

The charter takes into account four categories of enterprises, namely nano-enterprises, micro enterprises, small enterprises and medium enterprises. These should have a turnover that ranges between CFA5 million and CFA1 billion.

Esaïe Edoh

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