WAEMU: Togo is the 3rd country to earn the most from privatization in the Union

Finance
Wednesday, 29 September 2021 16:30
WAEMU: Togo is the 3rd country to earn the most from privatization in the Union

(Togo First) - Togo is the third country in the WAEMU to have earned the most from privatizing its companies - $104 million or CFA58 billion (for 78 firms). According to Kapi Consult, which disclosed the information, Togo comes behind Côte d'Ivoire and Senegal.

The first two raised $423 million and $217 million by privatizing 82 and 75 companies, respectively. Right behind Togo is Mali, with $100 million generated through 88 privatization operations.

A few days ago, the Togolese State announced that it has sold its stake in Banque Togolaise du Commerce et de l'Industrie (BTCI) to IB Holding. This means it is now the sole shareholder in only 16 companies, including the autonomous port of Lomé, the Société Nouvelle des Phosphates du Togo (SNPT), and hotels such as Kara, Sarakawa, and Roch Hôtel.

The State also holds shares in 26 other firms, including SOTRAL (Société de Transports de Lomé), of which it holds 96%, T-oil gas stations (79%), la Société togolaise de stockage de Lomé (STSL), Société aéroportuaire de Lomé (SALT) which manages the airport of Lomé (60%).

Union togolaise des banques (UTB), one of the companies fully-owned by the State, is also being privatized. 

Esaïe Edoh

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