Togo: Insurance sector recorded good performances in 2017

Finance

Wednesday, 26 September 2018 15:35

Togo: Insurance sector recorded good performances in 2017

(Togo First) - In 2017, the insurance sector fared well in Togo, according to Claude Daté Gbikpi, chairman of Togo’s Insurers Committee (CAT).

The executive who was expressing himself during celebration of the second edition of CAT days indicated that turnovers of firms operating in the Fire, Accidents, Risks, General and Transport insurances or Non-Life, reached CFA34 billion, against CFA29.7 billion in 2016, thus up 15%.

Same goes for firms operating in the Life sector. Their activity recorded a 6% growth generating CFA27 billion, at the end of 2017.

However, CFA27 billion was paid by insurers in 2017 to cover disasters, Gbikpi added.

Octave A. Bruce

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 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.

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PUBLIC PROCUREMENT (more info)

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