African States must take on four major roles to support the growth of the continent’s finance industry - President Gnassingbe
Tuesday, 29 November 2022 19:01 
(Togo First) - Faure Gnassingbe, the Togolese President, claims that the African States have four main tasks as part of their contribution to the development of the continent’s finance industry. He said so on November 28, while launching the second edition of the Africa Financial Industry Summit hosted in his country.
The first task is to build an attractive business climate. In this area, the leader believes “there is still more to be done”, even if much progress has been made regarding taxes, legal stability, and administrative bottlenecks.
The second task befalling the State is to foster information-sharing. “Not only information on the business environment, but information of businesses themselves”. He then gave the example of Togo which produced its 2025 roadmap, based on a coherent list of projects.
The State must play its role of referee.That is, according to Gnassingbe, the third mission that will ensure that an investment is sustainable and responsible. "It is necessary to be able to take into account the elements that affect pollution, and the loss of diversity, among others. And there, obviously, the public power finds its role of referee between the positive results of the investment in terms of profit and employment on the one hand, and, on the other hand, the environmental constraints," Gnassingbet explained.
The last task of the State is to organize innovation. While it benefits all actors of the financial sector, the public sector, first and foremost, is the ally of the most innovative of these actors and they are many examples illustrating this, the President noted.
The State must, therefore, support actors of the finance industry, because, “our common success depends on this collaboration between public powers and the financial sector.”
Esaïe Edoh
