Togo ranked 33rd world’s largest clean energy promoter (Bloomberg)

Energy

Thursday, 29 November 2018 19:10

Togo ranked 33rd world’s largest clean energy promoter (Bloomberg)

(Togo First) - Togo was ranked 33rd on the 2018 Climatescope released by Bloomberg New Energy Finance (BNEF). This is the first time the West African nation is featured in the global clean energy promotion rankings.

In Africa, Togo closes the Top 10. In the WAEMU, only Senegal, 13^th worldwide and second in Africa, is better ranked. In ECOWAS, Senegal and Nigeria (14^th worldwide and 3^rd in Africa) are ahead of Togo. Meanwhile Rwanda, 5^th worldwide is the number one in Africa. Globally, China tops the rankings.

According to Bloomberg, Togo’s performance results from the fact that, last July, the country adopted its “first law promoting clean energy development,… aiming to bring renewables share in the national energy mix to 50, by 2030, against 15% now”. The new law reduced import duties, custom tariffs and fosters foreign investments, the BNEF lauds.

Other factors that got Togo on the ranking include its new electrification strategy, pave the way for encouraging perspectives in the clean energy sector, the organization said. “The government recently released a roadmap to achieve 100% of electrification rate by the same year (2030), from an average of 37% in 2017. This plan consists in adding 108 MW of solar and hydroelectric capacity to the grids, 315 mini-grids and distributing 550,000 solar kits, all under public-private partnerships”.

While this is an ambitious goal, it is the government’s will to be autonomous, in terms of power production, which will spur clean energy’s development. Climatescope is a yearly study that covers 4 major areas including renewable energy attractiveness, clean energy investments, climate financing, low-carbon energy value chain as well as greenhouse gas management.

The ranking is designed to keep investors, project developers, and regulators updated on policy frameworks across the country. It also helps direct Investment decisions.

Fiacre E. Kakpo

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.