Togo: 88% of business turnover is generated by only 6% of companies declared in the country

Economy
Wednesday, 22 September 2021 16:42
Togo: 88% of business turnover is generated by only 6% of companies declared in the country

(Togo First) - Only 6% of companies registered in Togo earn more than CFA500 million. However, they account for 88% of the total turnover declared in the country.

The figures were disclosed by the Chamber of Commerce and Industry of Togo (CCIT) on Sept. 21. These are the preliminary results of a study the Chamber conducted, with the support of INSEED - the national statistics institute.

Most of the companies that generate the most money in the country are part of the Big Enterprises Association of Togo (AGET). They mostly include subsidiaries of multinationals like NSIA-Insurances, Orabank, Scan-Togo, Atlantique Telecom Togo (Moov), Canal +, Cfao Technologies, Ecobank, Eiffage, Contour Global, and Maersk. But there are also Togolese actors like Zener (formerly Sodigaz). 

The study also found that over 90% of Togolese companies are modest-sized and 113,607 out of the 123,48 registered earn less than CFA60 million annually. These SMEs make up the bulk of the productive fabric in Togo.

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