Africa’s first African Women Entrepreneurship Academy opens in Togo

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Monday, 06 June 2022 18:19

Africa’s first African Women Entrepreneurship Academy opens in Togo

(Togo First) - The first African Women Entrepreneurship Academy was launched in Togo last week, on June 2nd. The program aims to train and boost the capacities of 25 female Togolese entrepreneurs, with an emphasis on social entrepreneurship.

Backed by the US State Department, it will be deployed through the Center for Resources on Social Entrepreneurship (CeRES).

“We are living in a world of excellence and competitiveness never equaled before. And we cannot continue to do things the same way, hoping to have different results and, above all, to have better comparative advantages,” said Ngmebib Bileba, Secretary-General of the Ministry of Social Action, Promotion of Women and Literacy, at the launch of this program.

The program will last two months and will cover the following modules: "Pre-startup phase: from idea to reality", "The feasibility study", "Business plan", "Becoming an entrepreneur", "How to make things happen", and "Access to financing". This package of modules will be followed by a mentoring phase.

"Officially integrating women into the economic fabric of society brings tangible and quantifiable benefits. We all know, today, how much women entrepreneurs, both in the informal and formal sector, contribute to the economic prosperity of Togo and are its engine," said Elizabeth Fitzsimmons, U.S. Ambassador to Togo.

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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.