Togo: National Lottery contributed CFA6.04 billion to the national budget in 2022

Public finance

Tuesday, 02 January 2024 17:53

Togo: National Lottery contributed CFA6.04 billion to the national budget in 2022

(Togo First) - The Togolese National Lottery (LONATO) contributed CFA6.04 billion to the national budget in 2022. This was recently disclosed by the country’s tax office, OTR.

The figure, generated via corporate income tax, contrasts with CFA5.5 billion and CFA4.6 billion in 2021 and 2020, respectively (thus marking a 9% and 30% increase).

According to the OTR, the LONATO's contribution at the end of October 2023 stood at CFA5.4 billion. Pointing out that the contribution for 2023 could exceed that of 2022, the Tax Office attributed the increase to "profound changes" made by the LONATO from July 1, 2023. Indeed, the LONATO now carries out 12 draws per week, compared with 4 previously.

Established in 1966, the LONATO is a 100% State-owned company. It is also one of Togo’s public firms that generates the most sales. By 2021, it had generated CFA96.6 billion against CFA87.8 billion in 2020, and CFA83.4 billion in 2019.

Esaïe Edoh

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