Togo: IFC investments set to pass $80 million by June 2024 (forecast)

Tuesday, 19 March 2024 04:32
Togo: IFC investments set to pass $80 million by June 2024 (forecast)

(Togo First) - The International Finance Corporation (IFC) projects that its investments in Togo will exceed $80 million by June 2024. 

In a recent meeting with Togo’s Prime Minister, Victoire Tomegah-Dogbe, the IFC Director for West Africa, Olivier Buyoya, disclosed the forecast. They met last Thursday, March 14.

“We opened our office here in Lomé four years ago. We are very proud to say that this fiscal year, which ends in June 2024, we expect our funding portfolio to exceed $80 million,” Buyoya said. 

“Three years ago, we were around $5 million in investments,” he added.

Coming soon: A workshop to bolster local businesses

During the meeting, the IFC executive also unveiled that the Corporation planned to hold a regional workshop for local IFC-backed businesses. 

"We have set up a program to support national champions. These are the Togolese companies that today struggle daily to create and maintain jobs. Our program will not only provide them with dedicated financing but also help them develop their projects," said Olivier Buyoya. Before adding: "We have communicated to Madam Prime Minister that we have chosen Lomé for the first workshop on this program at the regional level."

In Togo, the IFC invests in various sectors, such as internet connectivity (Axian and Togocom), energy (Zener), and mobility (Gozem).

Ayi Renaud Dossavi

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