Togo: FAGACE Expands Collaboration with Local Financial Institutions

Finance

Wednesday, 21 May 2025 12:02

Togo: FAGACE Expands Collaboration with Local Financial Institutions

(Togo First) - The African Guarantee and Economic Cooperation Fund (FAGACE) concluded a working visit to Lomé on May 16. The visit aimed to boost cooperation with financial institutions in Togo, officials said.

The visit occured during Meet-Up Finances Togo, a week-long series of technical and strategic meetings focused on financing local economies.

During the mission, FAGACE signed or renewed partnership agreements with several banks, as well as management and intermediation companies (SGI) active in Togo. The agreements aim to improve access to finance for small and medium-sized enterprises (SMEs) and development projects with significant economic impact.

With SGI-Togo, FAGACE aims to promote access to the regional bond market for companies while mitigating investor risks. The fund also began discussions with local banks, including BDM-Togo, UTB, BOA-Togo, and Coris Bank Togo, to better address the financing needs of businesses, particularly SMEs.

FAGACE expects the new partnerships to boost its impact across the region. The Fund wants to help build a more inclusive and resilient financial ecosystem that matches the priorities of its member states.

Active in 14 African countries, FAGACE provides guarantees to financial institutions to facilitate SME credit access. It also supports the economic and social policies of its member states.

This article was initially published in French by Esaïe Edoh

Edited in English by Ange Jason Quenum

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)

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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 .

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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)

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PUBLIC PROCUREMENT (more info)

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