In a regional context marked by subtle monetary tensions, Togolese banks are adopting a cautious approach. As of February 2025, they have accumulated bank reserves of CFA164.9 billion, significantly exceeding the regulatory requirement of CFA66.7 billion. This surplus, amounting to CFA98.2 billion, represents a reserve ratio of 2.47—among the highest in the West African Economic and Monetary Union (WAEMU). The figures were produced by the Union’s Central Bank, the BCEAO.

Protecting Margins and Balance Sheets

The trend spread across the region, with countries like Côte d'Ivoire and Benin having a reserve ratio of 3.46 and 1.82. Niger was the only the country in deficit, with a reserve ratio of 0.94.

This defensive strategy is driven by the anticipation of a more constrained financial environment. Since the BCEAO's return to variable-rate auctions in February 2023, access to liquidity has become less fluid and more costly. 

Officially, the BCEAO’s key rate remains at 3.5%, but banks are borrowing at a ceiling rate of 5.5% from the Central Bank, while the one-week interbank rate exceeds 6%. In response, banks prefer to build excess reserves rather than risk refinancing tensions.

Hoarded Liquidity, Not Immobility

Stricter prudential requirements, including a doubled minimum share capital requirement for banks since December 2023, have also prompted banks to strengthen their capital base. Despite this caution, Togolese banks continue to finance the economy, albeit with discretion. In 2024, new bank loans increased by 10% to CFAF 645 billion, reflecting a buoyant economic context with real GDP growth estimated at 5.3%. Banks are opting for controlled growth to preserve portfolio quality in an uncertain cycle.

This article was initially published in French by Fiacre E. Kakpo

Edited in English by Ola Schad Akinocho

In Togo, a bold initiative is reshaping the tech landscape for women. Togolaises In Science (TIS), a business club focused on empowering women in Science, Technology, Engineering, Mathematics (STEM), officially launched at the Onomo Hotel on March 29, 2025. The network seeks to close the gender gap in science and technology while showcasing female expertise in Togo and its diaspora.

Djamila Kerim founded TIS, which already boasts over 100 members, including researchers, engineers, actuaries, cybersecurity experts, and entrepreneurs. These women are determined to challenge stereotypes. The club plans to serve as a hub for exchange, mentoring, and training, aiming to establish a network of 100 mentors by the end of 2025. By 2030, TIS intends to train 1,000 women in digital skills and boost Togolese women’s representation in STEM by 20%.

The launch event featured a panel discussion addressing barriers that hinder inspiring future generations. As the first chapter of the pan-African Africaines In Tech initiative, TIS relies on partnerships with businesses, NGOs, and institutions to drive its mission forward.

March’s focus on women’s rights in Togo set the stage for this launch. Activities throughout the month celebrated progress in gender equality and emphasized advancing women’s roles in science and technology.

Togo is breaking into Africa's elite technology hubs for investors as 2025 begins. The platform Africa: The Big Deal ranks the West African nation among the top five African countries where startups secured the most funding.

Gozem, a Togo-based scale-up specializing in mobility and financial services, drove this achievement with a $30 million fundraising effort.

Togo's rise stands out amid a continent-wide funding slowdown. African start-ups raised just $460 million in Q1 2025, down from $486 million in the same period last year. Gozem alone captured 6.5% of Africa’s total funding volume. Its February 2025 fundraising, backed by MSC Group and Al Mada Ventures, aims to fuel its expansion across French-speaking Africa.

This success places Togo alongside African powerhouses like Nigeria, Kenya, South Africa, and Egypt in Q1’s rankings.

Ayi Renaud Dossavi

During the first three months of this year, 4,262 new businesses were registered at Togo’s Center for Business Formalities (Centre de Formalités des Entreprises–CFE). Year-on-year, the figure is down by 5%.

Nationals led the charge, accounting for 81% of new business start-ups. Women played a significant role, making up 28.6% of these new ventures. 

January was the busiest month for business start-ups, with 1,498 new entities emerging. This was followed by 1,314 in February and 1,450 in March.

The dynamism is the fruit of various reforms implemented over the past decade to streamline business formalities and foster registration. 

Coming quarters will determine whether the 5% decrease marks a structural slowdown or just a cyclical downturn. For perspective, 14,921 businesses were registered in Togo throughout 2024. More than 10% of them were registered in January.

President Faure Gnassingbé of Togo attended the Global AI Summit on Africa in Kigali, Rwanda. The two-day summit, held on April 3 and 4, convenes political leaders, tech experts, and investors to discuss Africa’s role in the artificial intelligence (AI) economy.

The event’s theme was Artificial Intelligence and Africa's Demographic Dividend. It was co-organized by the Centre for the Fourth Industrial Revolution and the World Economic Forum (WEF). Discussions focused on how AI can transform employment, data governance, and entrepreneurship across the continent.

Togo’s participation signals its intent to leverage AI as a transformative tool. “The presence of the Head of State in Kigali reflects Togo's strong commitment to anticipating the future and fully integrating artificial intelligence into an inclusive, responsible approach geared towards youth employment,” the Togolese Ministry of Finance stated.

The country has already launched projects like Novissi, a pandemic-era program that used data to distribute targeted aid. Other initiatives include Data Lab, House of AI, and a national AI strategy nearing completion.

These efforts align with Togo’s ambition to become a sub-regional digital hub by fostering innovation and growing its digital economy.

On April 2, 2025, U.S. President Donald Trump announced a new wave of customs duties targeting imports from several African countries, including Togo. Togo will face a basic tariff of 10% on all its exports, effective on April 5, 2025.

This measure will particularly impact Togo's agricultural exports, such as coffee, cocoa, shea butter, and soya beans, which are crucial under the African Growth and Opportunity Act (AGOA). The increased tariffs could slow the growth of Togolese exports to the U.S. market, which have risen significantly from $20 million in 2021 to over $90 million in 2023 and $97 million in 2024, according to UN data.

Togo's textile industry, which recently began shipping garments to the U.S. from the Plateforme Industrielle d'Adétikopé (PIA), is also likely to be affected.

While Togo faces a 10% tariff, Lesotho is hit with a 50% rate, making it the worst-affected country on the continent.

This announcement comes as the future of AGOA remains uncertain, with its expiration set for September 2025. African countries are pushing for a 10-year extension, but Trump's tariffs could complicate this effort.

In response, Togo might strengthen ties with China, which has abolished customs duties on 98% of products from Togo and eight other African countries (Central African Republic, Chad, Djibouti, Eritrea, Guinea, Mozambique, Rwanda, and Sudan) since September 2022.

This article was initially published in French by Esaïe Edoh

Edited in English by Ange Jason Quenum

Togo produced 2,515,000 tonnes of tubers in 2024, against 2,406,614 tonnes in 2023. The Ministry of Agriculture reported this data in the Citizens’ Budget, highlighting a steady upward trend since 2022, when production rose by 7.5% to 2,238,529 tonnes.

The Plateaux and Centrale regions produced the most, 768,864 tonnes and 519,708 tonnes, respectively.

The increased output coincides with Lomé’s 2024-2028 plan to develop the root and tuber sector. Under this plan, the government seeks to raise CFA2.34 billion to fund development actions.

The Ministry of Agriculture and the Interprofessional Council for the Root and Tuber Plant Sector (CIFPRT) developed the four-year strategy. It was validated in 2023.

This article was initially published in French by Esaïe Edoh

Edited in English by Ola Schad Akinocho

Togo’s first Senate concluded its inaugural session on 2 April 2025, by electing its officers. Barry Moussa Barqué, a prominent figure in Togolese politics, secured the position of president of the Senate for a six-year term.

Barqué will lead the bureau, which counts nine members. After yesterday’s session, senators adopted their rules of procedure, laying the groundwork for future legislative activities.

The 61 senators—41 elected and 20 appointed by President Faure Essozimna Gnassingbé—are holding their first ordinary session today, April 3.

The leadership team includes Barry Moussa Barqué as President; Mrs. Kouvahey Amoko Holadem as 1st Vice-Chairman; Diogo Koudjolou as 2nd Vice-Chairman; Olympio Adeblewo Kossi as 3rd Vice-Chairman; Mally Komlan as 1st Quaestor; Mrs. Banybah Afiwavi Vicenzia as 2nd Quaestor; Mrs. Abougnima K. Molgah as 1st Parliamentary Secretary; Tchassona Traoré Mouhamed as 2nd Parliamentary Secretary; and Amelete Bawoumondom as 3rd Parliamentary Secretary.

Lomé, the capital of Togo, will host the first Space Forum Africa from April 7 to 9. African Geospace and TRL Space are organizing this international event to promote space cooperation.

The forum will center discussions on climate regulation, smart agriculture, disaster prevention, and modernizing public policies through space technologies. Organizers aim to position Africa as a key player in global space governance, bringing together decision-makers, researchers, entrepreneurs, donors, and investors.

The event also seeks to build stronger partnerships between African nations and global stakeholders to establish a sovereign and sustainable space industry. Richard Folly, founder of African Geospace, views space as a powerful tool for Africa’s economic development. He believes hosting the forum in Lomé offers Togo a strategic opportunity for technological transformation.

This article was initially published in French by Ayi Renaud Dossavi

Edited in English by Ange Jason Quenum