The International Monetary Fund (IMF) considers Togo as an emerging model of economic stability. The Fund’s Executive Director for sub-Saharan Africa, Ouattara Wautabouna, said so last week during a meeting with Togolese President, Faure Gnassingbé. The two men met in Lomé on November 20, 2024. 

On the occasion, Wautabouna emphasized that Togo's economic performance reflects exemplary management, with macroeconomic indicators showing positive results. He pointed out that the nation has sustained robust economic growth above 5% while maintaining an inflation rate of around 3%. “Togo is a good pupil at the level of the International Monetary Fund, simply because the economic performance indicators are in the green,” Wautabouna said.

These remarks align with findings from an IMF mission in Togo last month. The mission, led by Hans Weisfeld, commended Togo's progress in implementing reforms under the 42-month program supported by the Extended Credit Facility (ECF). 

The IMF delegation also expressed satisfaction with the Togolese government's economic and financial reforms, noting that they are proceeding as expected. This progress sets the stage for a forthcoming disbursement of $58.7 million (approximately SDR 44 million) under the IMF arrangement.

Wautabouna's observations underscore international acknowledgment of Togo's efforts to maintain economic and financial stability while fostering sustainable growth. Recent ratings from Moody's and Standard and Poor's (S&P) have also reflected optimism regarding the Togolese economy's prospects.

Esaïe Edoh 

Africa Global Logistics (AGL), formerly Bolloré Transport & Logistics, has launched its "Accelerate" program in Abidjan, Côte d’Ivoire. The program targets African startups operating in the logistics sector. Six startups have been selected for the inaugural cohort. One of them is Lomé-based Eazy Chain, founded by Wilfried Dabire. The five others are PAPS and ALAL from Senegal, APPLOAD from Mozambique, and TAMBOUR and ALIA from Côte d'Ivoire. 

The incubation program will help selected startups engage with mentors, explore innovative logistics solutions, and participate in project sprints to refine their offerings. The initiative is hosted at AGL's Yiri Innovation Center in Abidjan. It will last six months and incorporate diagnostics, pilot projects, and comprehensive follow-up to foster participants’ rapid growth.

"Through the [Accelerate] program, we will benefit from AGL's strategic resources and high-level coaching to realize this vision and sustainably transform the African maritime sector," said Eazy Chain founder, Wilfried Dabire.

According to Asta-Rosa Cissé, Regional Director of AGL Côte d'Ivoire and Burkina Faso, the program is designed to accelerate the development of startups across Africa while enhancing their contributions to the digital transformation of the logistics industry.

Leveraging an Attractive Business Climate in Togo

Eazy Chain operates nationally under the brand "Togo Cargo" and aims to leverage this program to expand in Africa and abroad. "We chose to set up shop in Togo because of the ease of doing business, the security, and Lomé's strategic position as a regional hub," Dabire added.

The Eazy CHain CEO added: “Our flagship project is a feeder vessel service, designed to transform shipping in the region. This service will link the deep-water port of Lomé to the port of Praia in Cape Verde, with calls at strategic ports in the region. It will efficiently connect secondary ports to the main hubs, thus reducing logistics costs, transit times, and load breaks."

Over the next six months, Dabire’s firm will capitalize on the expertise of Africa Global Logistics (AGL), a significant player in the logistics sector with operations in 47 countries across Africa. The startup will mainly focus on enhancing its ship consignment capabilities, port management, and goods transit. This will improve its services and competitiveness in the sub-region.

Ayi Renaud Dossavi

The Electric Energy Company of Togo (CEET) will launch a satisfaction survey on December 1, 2024. The utility will evaluate the quality of its services and products among subscribers. The survey will last two months and cover all six regions of the country. 

“The operation consists of collecting subscribers’ opinions and measuring their satisfaction or dissatisfaction level regarding the quality of products and services provided by CEET,” the company stated in a press release.

The CEET hired Afriksurvey, a Senegalese firm, to conduct the survey. The deployed Afriksurvey staff will be “identifiable by vests and personalized badges,” the CEET informed.

The survey’s results will help the CEET better understand customer expectations and potentially enhance its services in Togo.

Ayi Renaud Dossavi

Togo has once more confirmed its eligibility for the Millennium Challenge Corporation (MCC) Compact program, a key funding initiative from the United States, by validating 16 out of 20 indicators for the MCC 2025. Togo had validated 14 indicators in 2023 and 2024, respectively.

This year, Togo successfully validated 7 of the 8 indicators related to "economic freedom." The country maintained its performance in "governing justly," confirming 5 out of 6 indicators, consistent with prior assessments. In the category of "investing in human capital," Togo validated 4 out of 6 indicators.

Among the newly validated indicators are natural resource protection, which received a score of 52 points, and the immunization rate, scoring 78.5 points. However, four indicators remain below the required thresholds. Political rights scored only 15 points, falling short of the minimum threshold of 17. Fiscal policy was also lacking, with a score of -6.6 compared to the expected median of -4.4. Health expenditure and child health scored 0.55 and 54.9 respectively, against medians of 1.11 and 60.5.

With these results, Togo retains its status as an eligible country for the Threshold program. At the same time, it continues striving to finalize its Compact agreement by the end of 2024.

Esaïe Edoh 

In Togo, e-money transactions reached a total value of 711 billion FCFA in 2023. The Central Bank of West African States (BCEAO) disclosed the figure in report titled "Tableau de bord de la monétique régionale dans l'UEMOA à fin 2023". According to the document, released last August, the amount reported corresponds to about 7.95 million transactions.

In detail, withdrawals dominated the e-money landscape last year. They totaled CFA632 billion, or 88% of all transactions, value-wise. Withdrawals are made through cash dispensers (ATMs) and other electronic means. In comparison, bank card transactions were valued at around CFA570 billion five years ago in 2018.

In contrast, e-payments, made via bank cards, e-wallets, or payment platforms, amounted to CFA78 billion in 2023, or 10.9% of the total, value-wise. Cash advance transactions, which refer to cash advances obtained through bank cards, represented the smallest share, totaling just CFA362 million this year, or less than 1% of the overall volume.

Relative to card usage, nearly 430,000 cards (428,233) were circulating in Togo in 2023, accounting for 5.35% of all cards within the West African Economic and Monetary Union (WAEMU).

Ayi Renaud Dossavi

The High Authority for Environmental Quality (HAUQE) of Togo is holding a training workshop to bolster quality standards of agrifood products circulating in the country. The event started on November 19 and will last four days. It gathered 20 national experts who will be equipped with the necessary tools to help Togolese industries meet international quality standards.

“This certification training aims to guarantee the quality of products made in Togo. With the operationalization of the national quality infrastructure, our country must imperatively certify a certain number of products, particularly in the agri-food sector,”  said Lare Arzouma Botre, president of HAUQE.

During the workshop, experts will learn to implement international standards, including the HACCP system, which focuses on identifying and preventing potential hazards in the production chain. 

Quality consultant Nabila Okoulou-Kantchati noted more European and ECOWAS countries–and the US–have been demanding proof of product quality. Certification is thus becoming essential to get Togolese products across borders.

It is worth noting that the HAUQ recently launched certification programs for 31 food products made in Togo.

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Sokodé, a Togolese city located about 350 km north of the capital, will host the second edition of the International Horse Festival from January 8 to 10, 2025. The festival celebrates the rich equestrian tradition of the Tchaoudjo prefecture. The next edition is expected to attract nearly 500 riders from Togo and neighboring countries, organizers told the press last weekend.

The three-day festival will feature several key activities, including an equestrian evening and a horse race. There will also be competitions where riders from various backgrounds compete for prizes awarded to the top five participants.

Festival promoter Ouro-Adoï Farrida emphasized that this event highlights a key aspect of Togo's cultural identity. “The prefecture of Tchaoudjo is historically recognized as a place of horsemen, and it is essential to support the actors of this tradition,” he said.

Beyond horse demonstrations, the festival will include a public conference titled "The Future of the Rider," featuring local and foreign riders, researchers, and experts. This forum will focus on preserving and passing down equestrian culture in a modern context where traditional practices have been losing ground.

Esaïe Edoh

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Togo is building a new cancer treatment center focused on radiotherapy and nuclear medicine in Lomé. Prime Minister Victoire Tomégah-Dogbé laid the foundation stone for the facility on November 15, 2024. She was with the Minister of Health, Prof. Tchin Darré, and the President of the National Assembly, Sevon-Tépé Kodjo Adédzé.

Located at the Camp du 1er BIR in the Agoè-Nyivé 1 municipality, the new center will span 1,600 square meters. It will be equipped with advanced technologies to provide modern treatments for patients. Backed by AME International, an Austrian partner, the project aims to make cancer treatment more accessible and reduce mortality rates in Togo.

"This center will remain a gift for today that will forever determine the hope of tomorrow," said Prof. Tchin Darré, emphasizing the commitment to building a stronger Togo in the fight against cancer. This will be Togo’s second cancer treatment center. The first, the Centre international de cancérologie de Lomé, opened in 2022.

Data from 2022 indicates that Togo officially records over 7,000 cases annually, including nearly 900 pediatric cases. The number of cases has risen in recent years.

Ayi Renaud Dossavi