Togo First
African Solidarity Fund Partners With Denmark to Finance Sustainable Development Projects
• African Solidarity Fund and Danish Export Investment Fund sign framework agreement to co-finance sustainable development projects across Africa
• Partnership targets renewable energy, infrastructure, agriculture, water management, and health projects in 23 ASF member countries, including Togo
• Agreement creates "win-win" structure with Danish expertise meeting African needs while mobilizing international capital for climate challenges
The African Solidarity Fund and the Danish Export and Investment Fund signed a framework agreement in Lomé on September 15, marking a significant step toward financing sustainable development across Africa. The partnership aims to identify and co-finance projects in key sectors, including renewable energy, sustainable infrastructure, resilient agriculture, water management, health, and social enterprises.
Abdourahmane Diallo, Managing Director of the ASF representing 23 member countries, including Togo, signed the protocol with Werner Grub, Managing Director of EIFO. For host nation Togo, the agreement demonstrates its commitment to innovative partnerships supporting structural transformation.
"This opens up tremendous opportunities for our member states," said Stéphane Akaya Tchasso Kpowbie, Secretary General of the Ministry of Economy and Finance, representing his minister at the ceremony.
The alliance will prioritize Danish companies for identified projects while mobilizing direct financing backed by ASF guarantees and EIFO counter-guarantees. The structure aims to rapidly develop pilot operations demonstrating the scheme's impact.
Diallo described the agreement as "a major milestone" in diversifying financial options for ASF member states. Grub highlighted the partnership's mutual benefits, noting how "Danish expertise can address African development priorities" through sustainable innovation.
Technical teams will begin assessing initial projects in the coming weeks as international capital mobilization becomes crucial for addressing the continent's climate and economic challenges.
The ASF, established in 1976 as a multilateral financial institution, focuses on guaranteeing and facilitating financing access to support sustainable economic development across Africa.
Ayi Renaud Dossavi
Togo’s Nominal GDP Crosses Historic 6,000 Billion CFA Franc Milestone
• Togo's GDP crosses historic 6,000 billion CFA franc threshold, reaching 6,458.3 billion in 2024
• Economy grows 6.5% in real terms, outpacing WAEMU average of 5.5% despite volatile quarterly performance
• Growth driven by services (+6.1%), construction boom (+44.7%), and strong performance at Port of Lomé exceeding 30 million tonnes
Togo reached a symbolic economic milestone in 2024 as its nominal gross domestic product exceeded 6,000 billion CFA francs for the first time in history. The National Statistics Committee estimates the indicator hit 6,458.3 billion CFA francs, up from 5,954.2 billion the previous year.
Meanwhile, Real GDP grew 6.5% in volume terms, slightly above 2023's 6.2% rate. This performance placed Togo above the West African Economic and Monetary Union average of 5.5%. However, growth proved volatile with a first-quarter decline of 5.8% offset by a spectacular 17.7% surge in the fourth quarter.
Three sectors drove the expansion. The tertiary sector generated 2,716.9 billion CFA francs in value added, growing 6.1% and contributing 2.7 points to overall growth. Trade jumped 16% to 1,054.7 billion CFA francs. Telecommunications rose 11.4% to 324.4 billion CFA francs. Business services surged 18.5% to 245.8 billion CFA francs.
The secondary sector accelerated sharply, rising 7.1% to 1,338.7 billion CFA francs. Construction led this momentum with a 44.7% leap to 418.4 billion CFA francs. Metallurgy grew 23.1% to 116.2 billion CFA francs. Agrifood expanded 5.2% to 497.5 billion CFA francs.
The primary sector recorded 5.9% growth, representing 1,036.9 billion CFA francs in added value. Performance dipped slightly from 2023 but remained supported by strong agricultural harvests and planned agricultural zones.
Major infrastructure projects proved crucial. The Plateforme Industrielle d'Adétikopé entered full operation with new textile and agrifood units. The Port of Lomé exceeded 30 million tonnes of traffic, consolidating its regional hub status. Digital service upgrades from customs to payments streamlined business operations across sectors.
Fiacre E. Kakpo
Mali Development Bank Eyes Environmental Project Financing in Togo
• Banque de Développement du Mali seeks to finance environmental projects in Togo through new partnerships
• BDM's new Togo General Manager meets Environment Minister to identify potential collaboration opportunities
• Bank is transforming its Togo branch into subsidiary as part of expanded local presence strategy
The Banque de Développement du Mali is positioning itself to finance environmental projects in Togo following discussions between bank leadership and government officials. The initiative reflects the bank's broader strategy to strengthen its Togolese operations.
The BDM's new General Manager for Togo, Daffé Moustapha, met with Environment and Forest Resources Minister Foli-Bazi Katari in Lomé last weekend. The two parties reviewed major ongoing environmental projects to identify potential collaboration opportunities.
"We need to work closely with government authorities," Moustapha said. "We're here to explore how we can build partnerships with the ministry and support the major projects under their oversight."
The environmental focus aligns with the BDM's ambition to expand its Togolese presence. The bank has begun transforming its local branch into a subsidiary attached to its parent company in Bamako, Mali. This structural change signals deeper commitment to the Togolese market beyond traditional banking services.
The meetings suggest the BDM aims to tap into Togo's growing environmental sector investments while leveraging government partnerships to identify viable projects for financial support.
Esaïe Edoh
Port of Lomé Launches Major Dredging to Accommodate World's Largest Container Ships
• Port of Lomé launches major dredging to accommodate giant ships over 19,000 TEU and 400 meters long
• Port handled 30.64 million tonnes in 2024 (+1.85%) with strong transshipment role for landlocked Sahel countries
• €500+ million investment program aims to boost annual capacity to 2.7 million TEUs amid regional port competition
The autonomous port of Lomé has begun a new modernization phase with dredging operations at the Lomé Container Terminal. The work is designed to accommodate giant ships exceeding 19,000 TEU and 400 meters in length. DEME and Eiffage Génie Civil Marine are conducting operations to deepen the basin, turning circle and access channel.
The initiative comes as sub-regional port competition intensifies. Abidjan, Tema and Lagos are stepping up investments to capture growing maritime flows. Lomé's competitive edge rests on deep-water access and efficient customs procedures. The port also boasts high productivity of 32.5 crane movements per hour—above African standards.
Lomé is already positioned as a regional transshipment hub for Mediterranean Shipping Company. The port recorded 30.64 million tonnes of overall traffic in 2024, up 1.85% year-on-year. Container handling reached 2 million TEUs, a 5.19% increase. Nearly 20.2 million tonnes represented transshipment traffic.
This reinforces Togo's gateway role for landlocked countries including Burkina Faso, Niger and Mali. The trend has strengthened with the emergence of the AES alliance. Lomé also maintains strategic links to Nigeria, Ghana and Côte d'Ivoire.
The port is pursuing an investment program exceeding €500 million. MSC via Terminal Investment Limited and China Merchants Ports Holding are jointly financing the initiative. The LCT targets annual capacity expansion to 2.7 million TEUs. These efforts aim to consolidate Lomé's position on the sub-regional and continental maritime landscape as shipping lines deploy increasingly large vessels across West African routes.
Ayi Renaud Dossavi
India's New Ambassador Pledges Economic Partnership Boost With Togo
Key Highlights:
• India's new ambassador pledged to strengthen economic ties with Togo during talks with PM Faure Gnassingbé
• India ranks as Togo's second-largest export destination in Q2 2025, cementing its position among top three trading partners
• An India-Togo economic forum scheduled for October aims to boost private sector investment in agriculture and mechanization
India's newly appointed ambassador to Togo outlined plans to strengthen economic ties during talks with Prime Minister Faure Gnassingbé on Thursday, September 11, in Lomé.
"We discussed partnership in several areas including political, economic, export and trade, capacity building, and how India and Togo can work together for the benefit of the Togolese and Indian peoples," Fahmi said.
Ambassador Shri Sayed Razi Haider Fahmi emphasized expanding cooperation across multiple sectors, primarily on economic, trade and training cooperation.
An India-Togo economic forum scheduled for October in Lomé aims to connect private sector players from both countries and stimulate investment in key areas including agriculture and mechanization.
The ambassador's focus on training cooperation suggests India plans to share expertise in technology and agricultural modernization—priorities for Togo's development agenda.
The diplomatic push builds on robust commercial ties. India has emerged as one of Togo's top three trading partners and ranked second among export destinations in the second quarter of 2025.
Esaïe Edoh
Ollo Africa Becomes Togo's First Fintech to Get Regional Banking Approval from BCEAO
West Africa's digital payments sector gained momentum in September when the Central Bank of West African States (BCEAO) approved 10 new payment institutions across the West African Monetary Union (WAMU)—including a groundbreaking first for Togo.
Ollo Africa, a Lomé-based fintech, became the first Togolese company to secure this coveted authorization, joining an exclusive group of operators permitted to offer digital financial services throughout the eight-nation UEMOA economic zone.
Targeting the Unbanked Through Group Savings
The startup is launching Ohana Africa, an application designed to modernize traditional group savings by bringing these informal financial networks into the formal banking system. The platform promises thousands of Togolese secure, transparent access to digital savings and payments—services often beyond reach in underserved communities.
Ollo Africa's ambitions extend far beyond its home market. Management aims to rapidly scale to one million users in Togo before expanding across the region, leveraging partnerships with established financial institutions like Ecobank to fuel growth.
"Togo has already established itself as a leader in financial inclusion in Africa, and this approval reinforces the country's efforts to build a more inclusive economy," said Mawuna Koutonin, Ollo Africa's managing director. "This authorization enables us to create a more inclusive and accessible financial ecosystem for underserved communities, with the guarantee of banking supervision."
Central Bank Embraces Innovation
The BCEAO's latest approval round signals a broader strategic shift toward gradually opening regional markets to new players and innovative financial tools. This policy aims to stimulate innovation in a sector experiencing surging demand while maintaining strict oversight of financial soundness and transparency.
Ayi Renaud Dossavi
Togo's Economy Surges in Late 2024 After Rocky Start
Togo's economy delivered a dramatic turnaround in the final months of 2024, capping a volatile year with explosive growth that masked earlier struggles.
The West African nation's gross domestic product soared 17.7% in the fourth quarter compared to the same period in 2023, according to newly released estimates from the Institut national de la statistique et des études économiques et démographiques (INSEED). This surge helped push annual growth to 6.5%, up from 6.2% in 2023.
A Tale of Two Halves
The year began ominously. Togo's economy contracted 5.8% in the first quarter, reflecting persistent sectoral tensions and underlying economic fragility. But momentum shifted dramatically as 2024 progressed: growth rebounded to 9.3% in the second quarter, moderated to 3.8% in the third, then exploded in the final three months.
Three Pillars Drive the Boom
The recovery drew strength from across Togo's economy. Agriculture led the primary sector to 10.8% growth, buoyed by strong harvests and government support through planned agricultural zones (ZAAP), subsidized fertilizers, and mechanization initiatives.
The secondary sector proved even more dynamic, expanding 18.2%. Construction dominated this surge, fueled by major public and private projects and activity at the Plateforme industrielle d'Adétikopé (PIA). Extractive industries added momentum with growth exceeding 25% for the year.
Services—the economy's backbone—delivered the strongest performance with 19.4% growth in the final quarter. Trade flourished during year-end festivities and intensified import-export activity. Digital and communication services maintained steady expansion at 11.4% annually, while business services jumped 18.5%.
Notable Weak Spots
Not every sector shared in the prosperity. Electricity and gas production and distribution plummeted 42% in 2024, representing the year's most significant setback. The hospitality sector also struggled, with accommodation and catering falling 8.6%. Public administration's contribution declined 8.9%.
Government Strategy Bears Fruit
Officials credit the turnaround to reforms outlined in the Government Roadmap 2020-2025, which targets economic diversification, logistics strengthening, and infrastructure modernization. Key initiatives include support for agri-food small and medium enterprises, service digitization, and upgrades to the port of Lomé—a critical regional hub.
The results suggest Togo's strategy of building a more resilient, diversified economy may be gaining traction, though the sharp quarterly variations highlight ongoing volatility in this small but strategically positioned nation.
Fiacre E. Kakpo
Togo Postpones Mayoral Elections Again, Citing Logistical Concerns
KEY HIGHLIGHTS:
• Second delay pushes elections from Sept 10-12 to Sept 17-19, ensuring participation of all 1,527 councilors
• Decentralization milestone launches new municipal term across 117 communes in ongoing power transfer since 2019
• Democratic scrutiny attracts close monitoring from political stakeholders and international development partner
Togo has postponed its mayoral elections for the second time in less than a month, pushing the vote from September 10-12 to September 17-19 as authorities seek to ensure full participation of all elected municipal councilors.
The Ministry of Territorial Administration announced the delay, citing the need to improve logistical organization and guarantee that all 1,527 municipal councilors elected in July can participate in selecting mayors and their deputies across the country's 117 communes.
The elections were originally scheduled for September 2-4 before being moved to this week. Public authorities emphasized their commitment to creating conditions for a transparent, inclusive process that complies with current legislation.
The mayoral appointments will officially launch the new municipal term, installing local executives who will play crucial roles in implementing development policies, managing resources, and advancing decentralization priorities throughout the country.
The electoral process carries particular significance as part of Togo's broader decentralization effort, which has been transferring powers from the central government to local authorities since 2019. This gradual shift represents a cornerstone of the nation's territorial governance strategy.
Both political stakeholders and development partners are closely monitoring the smooth conduct of these internal elections, recognizing their importance for strengthening democratic governance at the local level.
African Trade Fair: 20 Togolese SMEs Attend in Algeria
KEY HIGHLIGHTS:
• $44 billion investments and deals projected by fair’s conclusion
• Competitive advantage sectors include agro-industry, logistics, textiles with German-EU program support
• Continental integration builds on 2018 AfCFTA agreement offering smaller economies broader market access
Twenty (20) Togolese micro, small, and medium enterprises have been showcasing their products at the fourth Intra-African Trade Fair since September 4. This year, the fair, hosted in Algiers, Algeria, welcomed over 2,000 exhibitors and 30,000 delegates.
The event, themed "Gateway to new opportunities," represents a strategic platform for Togolese businesses to gain visibility in Africa's rapidly expanding market, where trade agreements and investments are projected to exceed $44 billion by the fair's conclusion.
Togo's participation, backed by the Ministry of Commerce, Handicrafts and Local Consumption, aims to connect national entrepreneurs with commercial networks across the continent. Most participating Togolese companies, which focus on processing and marketing local products, receive support from German Cooperation and the European Union through the ProComp program and the Alliance for Product Quality in Africa (AfPQ-AfCFTA), implemented by GIZ.
The Algiers fair, organized by Afreximbank in collaboration with the African Union and the AfCFTA Secretariat, builds on momentum from the 2018 Kigali agreement that established the African Continental Free Trade Area—a landmark accord designed to boost intra-African commerce.
For Togo, the stakes extend beyond immediate networking and business partnerships. The nation seeks to promote products and services in sectors where it holds competitive advantages, particularly agro-industry, logistics, textiles, and handicrafts.
Esaïe Edoh
Togo Joins Africa-Caribbean Push for Reparations at Addis Ababa Summit
KEY HIGHLIGHTS:
• Reparations leadership as Togo spearheads AU classification of slavery and colonization as crimes against humanity
• Economic diversification targets Caribbean trade expansion, renewable energy investment, and enhanced global profile
• South-South cooperation leverages shared African diaspora history for contemporary political and economic partnerships
Togo participated in the second Africa-CARICOM summit on Sunday, Sept 7, with Foreign Minister Robert Dussey representing the nation at talks focused on strengthening ties between Africa and the Caribbean Community through a shared pursuit of restorative justice.
The summit, held under the theme "Transcontinental partnership for restorative justice for Africans and people of African descent through reparations," aimed to deepen political, economic, and cultural connections between the two regions.
Speaking at the event on behalf of Council President Faure Gnassingbé, Dussey highlighted the African Union's landmark classification of slavery, deportation, and colonization as crimes against humanity and genocide against African peoples. The Togolese diplomat emphasized his country's leading role in this initiative, calling it a major turning point that officially recognizes centuries of injustice.
"This decision reflects a paradigm shift, in response to the aspirations of the African and Caribbean peoples," Dussey declared, underscoring its restorative and historic significance for both regions.
Beyond reparations, discussions encompassed security, peace, trade, climate change, education, and health issues, with particular attention to the African diaspora in the Caribbean. For Togo, the summit represents more than symbolic solidarity—the nation seeks to expand trade with dynamic island economies, attract investment in strategic sectors including agro-industry and renewable energy, and enhance its profile as a committed player in pan-African and international forums.
CARICOM, established in 1973, comprises 15 member states forming a market actively seeking new growth drivers. For Lomé, this partnership offers an opportunity to diversify external relationships amid intensifying geopolitical rivalries and growing emphasis on South-South cooperation.
The summit underscores Africa's evolving diplomatic strategy, leveraging shared historical experiences to build contemporary economic and political alliances with diaspora communities worldwide.