Doing Business 2020: Togo is among top 20 improvers (shortlist)

Economic governance
Monday, 30 September 2019 16:03
Doing Business 2020: Togo is among top 20 improvers (shortlist)

(Togo First) - Togo is one of the top countries to have improved its business climate the most in the past 12 months. Indeed, the country is featured with four other African countries on a shortlist, released by the World Bank, ranking the 20 economies that have improved their business climate most in the past 12 months. 

The list was released yesterday, ahead of the Doing Business 2020 which will be officially launched next October 24th. It should be emphasized that the final list will be disclosed at the time of the Doing Business 2020 launch and will feature only 10 economies. 

Besides Togo, the four other African nations present on the shortlist are Nigeria, Kenya, Djibouti, and Zimbabwe. 

According to the Bretton Woods institution, Togo owes its place in the shortlist to reforms implemented across five areas. Among these is "the elimination of a requirement that limited liability companies have their articles of association drafted by a notary." Also, "Transparency in the construction permitting process was improved after Togo issued a circular mandating that the required documents, pre-approval and fees be made available online. Getting electricity became less costly following a decision by the electricity company to reduce the cost of new connection works. The property transfer registration process was streamlined—the submission of land transfer documents and payment of the registration fee are now completed in one step at the same office. Togo improved access to credit information by expanding the coverage of the credit bureau, Creditinfo Volo, and distribution of data from utility companies.

Let's note that Togo was one of the top 10 reforming countries in the previous Doing Business in which it rose by 19 places. In the long run, the country, according to Sandra Johnson, Presidential Minister-Counsellor, in charge of Business Climate, aims to be among the top 100 countries in terms of ease of doing business. 

Fiacre E. Kakpo

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