Togo is the top African country, in terms of new FDI projects secured in 2019

Monday, 13 January 2020 10:33
Togo is the top African country, in terms of new FDI projects secured in 2019

(Togo First) - Over the first 11 months of 2019, Togo was Africa’s leading country, in terms of attracted foreign investments. This was reported by FDI Intelligence, which is a specialist division from the Financial Times providing industry-leading insight and analysis on crossborder expansion, greenfield inward investment and foreign direct investment trends.

From January to November last year, Togo secured 11 new investment projects, against only two (2) over the same period in 2018. This is the highest growth rate relative to the number of greenfield projects, in all of Africa. Before that, the continent’s peak was seven projects, secured in 2013. 

According to FDI Intelligence, Togo has attracted 6.7 times more investments than expected of an economy of its size. It is ahead of Rwanda and Senegal, respectively second and third. 

Lauding the achievement, President Faure Gnassingbé declared: “This news consolidates our conviction that we are on the right track regarding the many reforms we have put in place to ensure prosperity and inclusive growth in our country.”

Most of the projects secured by Togo were yielded by a double partnership reached with the Dangote Group at the beginning of November last year. Under the deal, a phosphate treatment plant (at a cost of $2 billion) and a cement factory ($60 million) will be built in the country. 

Another major investment is that of Amea Power which plans to build a $33.5 million solar power plant in Blitta. 

Togo, let’s recall, is among the top reformers of Africa and third worldwide, according to the 2020 Doing Business report. The country received last year, its first international finance rating, and secured its first loan on the international market. 

Octave A. Bruce

togofirst mobile

Should we encourage young togolese toward agriculture?
  • 57 Votes
  • 25 Votes
  • 20 Votes
    Don't have opinion
← Back
Total 102 Votes

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.