Togo Posts Strong 6.5% Growth in 2024, Nominal GDP Tops CFA 6,000 Billion

Public Management

Tuesday, 16 September 2025 15:56

Togo Posts Strong 6.5% Growth in 2024, Nominal GDP Tops CFA 6,000 Billion

Togo’s economy expanded 6.5% in 2024, up from 6.2% a year earlier, with nominal GDP topping CFA 6,000 billion for the first time.
Growth was driven by infrastructure projects, agriculture and construction, notably the Adétikopé industrial platform and a 44.7% surge in the building sector.
Some industries struggled — electricity, wood and building materials posted steep declines — while the IMF warned of budget pressures from rising security spending.

Togo’s economy held its momentum in 2024, with real GDP growth estimated at 6.5%, according to new figures from the National Statistics Committee.

The pace builds on 2023’s 6.2% expansion and marks a milestone: nominal GDP crossed the CFA 6,000 billion threshold for the first time, reaching 6,458 billion, up from 5,954 billion a year earlier. This performance places Lomé ahead of many peers in the West African Economic and Monetary Union, where average growth was 5.5%.

Growth was fueled by a sharp rebound at the end of the year. The economy surged 17.7% in the fourth quarter compared with the same period in 2023, offsetting a 5.8% contraction in the first quarter.

Much of the dynamism stems from public investment under the 2020–2025 roadmap. Infrastructure projects are central, notably the Adétikopé industrial platform, which became fully operational in 2024. The site now hosts over 15 industrial units, ranging from soybean processing to textiles and assembly plants. It has created nearly 2,000 direct jobs, with 7,000 expected by the end of 2025.

Linked agricultural zones (ZAAP) boosted food production, pushing primary sector growth to 5.9%. At the same time, the Port of Lomé handled a record 30.6 million tonnes of traffic, including more than 2 million containerized TEUs, reinforcing its role as a regional hub.

Digitization of customs, payments, and administrative services has also lifted productivity in the tertiary sector. Construction stood out most, expanding 44.7% and contributing 1.5 percentage points to overall GDP growth.

Still, not all industries have advanced. Textiles shrank 9.1% in 2023 before edging back in 2024. Wood fell 22%, while electricity generation dropped 42.1%. Building materials output plunged 60%. The IMF has warned that these structural weaknesses, alongside rising security costs in the north, pose risks to the outlook.

By contrast, the food industry grew 5.2%, metallurgy 23.1%, and extractives 25.5%. Inflation eased to 2.3% from 2.9% in 2023, preserving household purchasing power and sustaining demand.

Authorities now face the challenge of turning this momentum into durable, broad-based development.

Fiacre E. Kakpo

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)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

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 .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

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.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.