Togo: Leasing transactions leaped from CFA0.6B to CFA11B in 2019-2021

Finance
Thursday, 07 April 2022 12:34
Togo: Leasing transactions leaped from CFA0.6B to CFA11B in 2019-2021

(Togo First) - From 2019 to the end of 2021, the value of leasing transactions in Togo has soared from CFA600 million to CFA11 billion.

“(...) New leasing operations have swollen to 11 billion in 2021, compared to 0.6 billion in 2019, the year that Togo adopted the law on leasing,” said Sani Yaya, Togo's Minister of Economy and Finance, in his speech at the first National Credit Council (CNC) of this year, with financial actors in Togo.

The growth can be mostly associated with African Lease Togo (ALT), which started offering leasing and factoring services in the country early in 2021.

Leasing is a type of financial operation that enables the financing of equipment with no prior contribution. For people who do not want to take a loan from the bank, it is a very practical alternative.

ALT values its portfolio of operations at around CFA10 billion. According to the ministry of economy and finance, the firm, leasing activities make up more than 90% of this portfolio. 

Before the Covid outbreak, in 2019, the Togolese subsidiary of African Lease Group estimated that Togo’s leasing market was worth CFA116 billion, referring to data attributed to the Directorate of Transport of Togo.

Ayi Renaud Dossavi

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