Togo First
Togo cuts deficit, edges toward fiscal stability – World Bank
Togo’s overall budget deficit is expected to shrink from 6.8% of GDP in 2024 to 3.5% in 2025, before stabilising at around 3% between 2026 and 2028, according to the World Bank’s Africa Economic Update 2026.
The budget balance reflects the gap between government revenues and expenditures. A negative figure means the government spends more than it collects. The projected trend points to efforts to curb spending and improve revenue collection.
The improvement is more pronounced in the primary balance, which excludes interest payments on debt and provides a clearer view of fiscal management.
In several countries, including Togo, the primary balance is moving towards equilibrium, World Bank experts said, meaning revenues are increasingly sufficient to cover current spending, excluding debt service.
“The most significant improvements are expected in Ghana, Guinea-Bissau, Sierra Leone, Senegal and Togo,” the World Bank said.
Despite this progress, public debt remains elevated, though still below the 70% threshold set by WAEMU. Togo’s public debt is estimated at 66.2% of GDP in 2024, before falling to 63% in 2025 and to around 61.8% by 2028.
The main challenge is interest payments, which remain high and are limiting the reduction of the overall deficit.
Across the region, these payments account for between 2.9% and 3.2% of GDP, absorbing a large share of public resources and in some cases exceeding spending on health or education.
In the near term, the improvement in public finances is expected to rely on revenue growth outpacing expenditure. However, fiscal sustainability will also depend on the country’s ability to contain debt costs, requiring sustained fiscal discipline while preserving investment needed for growth.
A more volatile global environment and rising inflationary pressures could complicate that outlook.
Ayi Renaud Dossavi
Togo Plans €84 Mln Global Fund Bid to Fight HIV, TB and Malaria for 2027-2029
Togo has launched a national consultation to prepare a single funding application to the Global Fund to fight HIV, tuberculosis and malaria for 2027–2029.
The process, which opened on Tuesday in Lomé, brings together government agencies, technical partners, civil society and health sector stakeholders.
It aims to define common priorities and align interventions with national needs. The approach is designed to optimize resources at a time of budget constraints and declining external funding.
Togo plans to mobilize about €84 million, or roughly 55.1 billion CFA francs, from the Global Fund. The funding is expected to cover the three diseases simultaneously while strengthening the health system.
“These €84 million must fund efforts against AIDS, tuberculosis and malaria,” said Binyandi Akou, general coordinator of the Country Coordinating Mechanism (CCM-Togo). He stressed the need to target interventions given limited resources.
Togo has made progress in combating the three diseases in recent years. HIV prevalence now stands at 1.4%, according to health authorities.
Challenges remain. WHO data show a high global burden, with more than 40 million people living with HIV and nearly 3 million new infections each year.
Authorities are calling for expanded screening, improved access to treatment and stronger patient monitoring, alongside efforts to consolidate existing programmes.
The consultation is expected to produce a common roadmap ahead of the official submission planned for June 2026. It also aims to improve coordination, strengthen governance and ensure the long-term sustainability of interventions.
Ayi Renaud Dossavi
Togo issues tender for agricultural inputs under PROFIT project
Togo's PROFIT project has launched a tender to procure agricultural inputs to strengthen local horticultural value chains.
The initiative, led by Lutheran World Relief with funding from the U.S. Department of Agriculture, is accepting bids from qualified suppliers, including local firms, until April 23, 2026. The tender covers the purchase of NPK 15-15-15 fertilizer and okra seeds, in line with the technical specifications outlined in the bidding documents.
Launched in 2023 for a five-year period, the PROFIT project has a budget of $29.8 million. It targets the cassava, pepper and okra value chains, aiming to improve agricultural productivity, strengthen processing and facilitate market access.
The program plans to reach 25,000 farmers and support the formation of 1,000 cooperatives. It is part of the national agricultural modernization strategy, combining input distribution, technical training and market access support.
Ayi Renaud Dossavi
Togo rolls out new roadmap to improve policy coordination and spending efficiency
Togo launched work on its 2026–2031 roadmap on Wednesday, April 8, following a two-day seminar chaired by Council President Faure Essozimna Gnassingbé.
The move comes as the country’s public debt has fallen back below the 70% of GDP ceiling set by the West African Economic and Monetary Union (WAEMU/UEMOA), although the budget deficit remains a concern. The International Monetary Fund has pushed back to the end of this year the target of reducing it to 3% of GDP.
The new strategy is built around three pillars: “Protect, Unite and Transform.” Gnassingbé first outlined these themes before Parliament, convened in Congress on Dec. 2, 2025, in his state-of-the-nation address, the first under Togo’s Fifth Republic. He reiterated them in his New Year’s address on Dec. 30, making the three pillars central to his agenda.
The April 7–8 seminar marks a shift to implementation. According to the official communiqué, the government aims to break down sectoral silos and promote cross-ministerial coordination, focusing public spending on high-impact priorities and adopting indicators that are visible in people’s daily lives.
The previous roadmap, which included 42 projects and reforms, achieved a completion rate of 68.79%, according to figures presented at the seminar. Authorities said the outcome was partly due to external shocks, including the Covid-19 pandemic, the war in Ukraine and regional security instability, although analysts have also pointed to coordination and monitoring gaps.
The government had already sought to address those weaknesses when forming the first cabinet of the Fifth Republic in October 2025, notably by creating an expanded portfolio focused on public service efficiency and digital transformation.
The seminar’s conclusions were shared with secretaries-general and chiefs of staff across ministries to ensure implementation.
Limited fiscal space
The launch comes amid ongoing fiscal consolidation after several years of pressure on public finances. Following a deficit of 7.4% of GDP in 2024, it narrowed to around 3.5% in 2025, according to a recent Moody’s analysis, which cited stronger revenue mobilisation and lower one-off spending.
Public debt, which peaked at 72% of GDP in 2024, has fallen back below 70%, reaching 65% at end-June 2025, according to official data presented by Finance Minister Essowè Georges Barcola. The IMF has since classified Togo among countries with strong debt-carrying capacity.
Moody’s expects debt to continue declining, to around 66% of GDP by 2027, provided fiscal discipline is maintained and security pressures in the north do not lead to higher military spending.
On growth, the government forecasts expansion of 6.2% in 2025 and 6.5% in 2026, according to projections set out in the budget adopted in December 2025, above UEMOA’s forecast of 5.7% and ECOWAS’s 4.1% for 2026.
The IMF is more cautious, projecting growth of 5.3% in 2025 and 5.5% in 2026. The World Bank said the outlook depends on easing global uncertainties and continued fiscal consolidation.
Fiacre E. Kakpo
Togo plans 185 bln CFA francs in Q2 borrowing on WAEMU market
Togo's Treasury plans to raise 185 billion CFA francs on the West African Economic and Monetary Union (WAEMU) public securities market in the second quarter of 2026, according to the quarterly issuance calendar published by UMOA-Titres and reviewed by Togo First.
Lomé aims to raise 95 billion CFA francs through Treasury bills (BAT) and 90 billion CFA francs through Treasury bonds (OAT). The total, scheduled for April–June, represents roughly 40% of the country's annual target of 463 billion CFA francs.
Over the same period, the eight WAEMU member states plan to raise a combined 2,907 billion CFA francs. Togo’s share accounts for about 6% of total planned issuance. The country has already launched its programme with an operation on April 3, 2026, raising 33 billion CFA francs. At the regional level, Côte d’Ivoire has the highest target, at 930 billion CFA francs for the quarter.
In the first quarter of 2026, Togo raised 49.5 billion CFA francs through two market operations, exceeding its initial target of 45 billion CFA francs. Of that amount, 44.5 billion CFA francs came from OATs and 5 billion CFA francs from BATs. This represents roughly 10% of the annual funding target.
At the same time, Togo will continue servicing its debt on the regional market. Repayments for the second quarter of 2026 are expected to reach 208 billion CFA francs. In the first quarter, the country had already met repayment obligations of 195 billion CFA francs.
Esaïe Edoh
Togo strengthens regulatory control over measurement-related services
Togo is strengthening the regulatory framework for metrology and quality activities, as authorities move to enforce stricter compliance across the sector.
The Ministry of Investment Promotion has reminded industry operators of the requirement to obtain accreditation for activities related to the measurement, repair or maintenance of instruments. The announcement was made in an official statement dated March 25, 2026.
The requirement applies to companies servicing measuring instruments used in commercial transactions or technical services.
According to the authorities, these activities are strictly subject to prior accreditation issued by the High Authority for Quality and the Environment, via the Togolese Accreditation Committee. Non-compliant operators are urged to comply.
Metrology, the science of measurement, ensures that instruments deliver accurate and reliable results. For example, it verifies that fuel pumps dispense the correct quantity and that scales provide accurate weights. In the economy, this discipline is essential to ensure fairness in transactions. Inaccurate measurements can harm consumers and undermine business credibility.
The compliance deadline is June 30, 2026. Operators therefore have a few weeks to meet the requirements before penalties under existing regulations take effect.
The government is calling on affected operators to expedite their procedures. “I invite economic operators to comply with the legal and regulatory provisions in force no later than June 30, 2026,” it said, adding that “after this deadline, any operator will be subject to the applicable legal and regulatory sanctions.”
Ayi Renaud Dossavi
Togo’s CETEF plans year-round events to strengthen economic impact
The Togolese Center for Exhibitions and Fairs (CETEF) aims to strengthen its role in the country’s economy and expand its impact. The institution plans to become a “national platform for economic promotion” within three years, Director Alexandre de Souza said during a press meeting in Lomé on Wednesday.
“We want to ensure year-round visibility,” de Souza said. “The site must truly become a national platform for economic promotion.”
The strategy is based on a broader events calendar designed to improve visibility and sustain economic activity throughout the year.
Building on rising attendance
CETEF is building on the recent performance of the Lomé International Fair. In 2025, the event attracted more than 803,000 visitors over 16 days, with 1,150 exhibitors from 26 countries. Beyond attendance, B2B meetings generated 240 commercial leads from 827 sessions, reflecting growing interest in business networking.
For the director, who has held the position since 2023, these results should serve as a basis to strengthen the centre’s position at the sub-regional level. “We must significantly improve our sub-regional positioning,” he said.
The “Togo 2000” centre is also expanding its activities to the regions. “Made-in-Togo” fairs have already been held in Kara, Niamtougou, Notse and Vogan, with new editions planned in Sokodé and Aného in 2026.
“For three years, we have been organising Made-in-Togo fairs in the regions,” de Souza said, noting that the initiative directly supports local businesses, particularly outside the capital.
Upcoming Lomé International Book Fair (FI2L)
The 2026 calendar includes several sector-specific events, including the Lomé International Book Fair (FI2L), organised in partnership with the Togolese Writers’ Association. The event has been revived after being halted by the Covid-19 pandemic. Other events will focus on health and year-end activities.
The sixth edition of the Lomé International Book Fair is scheduled for April 24–25, 2026, according to organisers.
CETEF also plans to share more data on its economic and social impact to raise its profile among public and private stakeholders. The centre aims to consolidate its role as a business hub, capable of facilitating trade, attracting investors and supporting the development of local initiatives in a competitive regional environment.
Established by decree in 1982, CETEF is a public body responsible for trade promotion in Togo. Based in Lomé, near Gnassingbé Eyadéma International Airport, it manages the “Togo 2000” site. The centre primarily organises the Lomé International Fair, a major event that facilitates exchanges between local and international companies and serves as a key platform for economic visibility in the country.
Ayi Renaud Dossavi
Self-financing dominates business creation in Togo, World Bank says
Entrepreneurs in Togo overwhelmingly finance the start of their businesses using their own funds, according to the World Bank’s Africa Economic Update 2026.
The report shows that 94% of entrepreneurs rely on personal resources or support from family and close contacts. Of these, 73% use their own savings to launch their activities, while 21% depend on family or relatives.
Formal financing remains limited. Only 5% of entrepreneurs access funding from banks, microfinance institutions, public programs or other formal credit facilities. Informal sources account for 1%, while other sources are negligible.
This pattern reflects persistent barriers to credit access. The World Bank notes that most self-employed workers rely primarily on personal savings or support from family and friends to finance their startup capital.
High borrowing costs and collateral requirements that are poorly suited to small businesses remain key constraints.
Similar trends across the sub-region
Togo reflects a broader regional pattern. In Senegal, 74% of entrepreneurs rely on their own resources, compared with 76% in Guinea-Bissau and 79% in Nigeria. The figures stand at 79% in Benin, 81% in Côte d’Ivoire and 85% in Mali.
Across these countries, family support remains the second main source of funding, while formal channels are still underused. The data points to an economic structure dominated by informal enterprises. The report notes that non-agricultural employment is largely driven by informal family businesses serving local markets.
This structure limits integration into formal value chains and restricts access to structured financing.
Recent efforts
The World Bank data covers 2021 and may not reflect more recent developments. Togo has since stepped up efforts to expand financial inclusion. The inclusion rate reached 89.04% in 2024, up from 87.7% a year earlier, placing the country among the most advanced in the WAEMU.
This progress is partly driven by the National Fund for Inclusive Finance (FNFI), which said it had granted more than 1.9 million loans worth a total of about 116 to 117 billion CFA francs by end-2025.
Authorities are also promoting microfinance, mobile money and digital services to broaden access to financial services, particularly in rural areas. Other mechanisms, including the ANPGF and the MIFA, aim to reduce lending risks and support SME financing.
Ayi Renaud Dossavi
Togo fisheries output seen at 33,977 tons in 2026, down 6%
Togo’s fisheries output is projected to reach 33,977 metric tons by end-2026, according to the Finance Ministry’s 2026 budget.
The Maritime and Plateaux regions are expected to account for 32,550 tons, or 96% of national output. The ministry attributed the large share to favorable natural conditions, including the Mono River in Plateaux and sea access in Maritime, as well as existing infrastructure, including a fishing port.
The projection represents a decline of more than 6% from the 36,251 tons recorded in 2025. No official explanation has been provided for the expected drop.
The government plans to continue implementing its five-year fisheries development plan through 2028. The program aims to improve technical capacity and sector organization.
Measures include training for sector stakeholders, support for fisheries research, and backing for the interprofessional fishery council (Conseil interprofessionnel de la filière poisson). Launched in 2024, the plan has an estimated total cost of 20 billion CFA francs.
Annual fish demand in Togo exceeds 100,000 tons, with domestic production covering only about 30% of national needs.
Esaïe Edoh
DR Congo lobbies Togo to back its candidate in OIF leadership race
The Democratic Republic of Congo has asked for Togo’s support for its candidate for the next Secretary-General of the International Organisation of La Francophonie (OIF), ahead of a November election.
The request was formally made in Lomé on Wednesday, April 8, 2026, to Faure Gnassingbé, President of the Council of Ministers of Togo.
Kinshasa is urging Togo to back Congolese candidate Juliana Amato Lumumba against Rwanda’s Louise Mushikiwabo. “We are therefore seeking the support of Togo, a close partner with which we have longstanding ties,” said Crispin Mbadu Phanzu, Congo’s minister of Foreign Affairs, International Cooperation and Francophonie.
Juliana Amato Lumumba, who was part of the delegation, outlined her vision for a more inclusive Francophonie to Gnassingbé. She also presented the projects Congo intends to champion to strengthen the organisation’s influence.
The OIF Secretary-General is elected to a four-year term by member states’ heads of state and government.