Togo: Which companies are owned by the State ?

Monday, 23 November 2020 10:11
Togo: Which companies are owned by the State ?

(Togo First) - In Togo, the State’s shares in public and semi-public companies were valued at CFA103 billion in 2019. 

Despite exiting the shareholding of many companies, the State is the sole owner of 16 companies and is a co-shareholder in 26 mixed companies. 

For example, the PAL, which runs the autonomous port of Lomé, is fully owned by the State. The same goes for the CEET (power utility), the SNPT (the national company for phosphates), as well as companies supplying and managing drinking water in the country. 

Togo Invest, SNPT, and the Sarakawa hotel complex are the three companies fully owned by the State, with the highest paid-up capital (respectively CFA10.5 billion, CFA15 billion and CFA10.9 billion). 

Another company that is 100%-owned by the State is Union Togolaise de Banque (UTB). It is however being privatized. 

At the end of 2019, out of the 28 mixed economy companies in which the State held shares, it was a majority shareholder in six. 

The firms are namely SOTRAL, a public transport company (the Togolese State holds 96% of its shares), T-oil (79%), Société Togolaise de Stockage de Lomé or STSL, the SALT which manages Lomé’s airport, the BTCI (70% of its shares belong to the State) which is being privatized, and the Nouvelle Société Cotonnière du Togo (NSCT) which is going to be transferred to Olam. 

It is worth noting that TogoTelecom and Togo cellulaire, two State companies, merged into a mixed economy company. The product of the merger, Togocom, is shared between the State (49%) and Agou Holding (51%). 

Fiacre E. Kakpo

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