Togo First
Exclusive Interview with Ethiopis Tafara, IFC Vice President for Africa
Recently appointed as Vice President of the International Finance Corporation (IFC) for Africa, Ethiopis Tafara visited Lomé for the “Africa Leads” forum, which brought together stakeholders from World Bank Group-funded projects in West and Central Africa. In this exclusive interview with Togo First, he reflects on the impact of IFC’s presence in Togo, the institution’s strategy to support local businesses, key upcoming priorities for West Africa, and IFC’s positioning amidst recent global geopolitical shifts.
Togo First: The IFC opened an office in Togo five years ago. In your opinion, what are the three most notable impacts of this official presence?
Ethiopis Tafara: I would start with the significant increase in investments in Togo over the past five years. Back then, our program was quite limited. Since then, we have invested or mobilized about $186 million—a record amount. This represents a major shift, with a focus on key sectors such as energy and telecommunications.
We invested, for example, in the Lomé container terminal, our initial entry point. Since then, we’ve also supported Togocom and Star Garments, a large-scale clothing manufacturer for export markets—comparable to what exists in Bangladesh. We’ve also worked to improve energy access, including an investment in Zener, which helped build propane and butane storage terminals.
We focus on sectors where Togo has a comparative advantage. Supporting SMEs is critical, as they generate the majority of jobs. Financing them is essential. Similarly, energy, transport, and logistics are key priorities—we’ve also invested in Gozem, which is doing an excellent job in urban mobility.
Business Climate and SMEs
Togo First: What have you learned from the Togolese experience, particularly regarding the business environment, and how does it shape your broader strategy?
Tafara: The main takeaway is the importance of an enabling investment environment. This is fundamental to mobilizing investments and developing the private sector, which in turn creates jobs. This principle applies across all the countries where we operate. That’s why we work closely with the World Bank, which directly supports governments with the reforms needed to attract investors.
Togo First: You’ve supported firms like Yatt & Co, Label d’Or, and Gozem. How do you tailor your strategy to Togo’s private sector, especially in agribusiness, energy, or logistics?
Tafara: I’m often asked whether we only support large companies. In fact, we invest in both large and small enterprises. What matters is impact. We seek out “local champions” that we can support and scale into role models for the domestic market—and sometimes regional ones, like Gozem. At the beginning, they didn’t fully meet our standards. We helped them structure their operations—environmental management, social risk—and we’re considering even greater support in the future.
We also work on large infrastructure projects—ports, roads, energy. The key is maintaining balance. We not only provide loans but also take equity stakes in companies that offer solutions to urgent development challenges.
Togo First: What about SME support?
Tafara: Our organization is not always structured to directly serve the vast SME segment that exists in many of the countries we operate in. We can't support each one individually. Instead, we rely on intermediaries—local banks and financial institutions that already manage portfolios of SMEs. This portfolio approach reduces risk and allows us to reach far more SMEs efficiently and indirectly.
Togo First: Green financing is increasingly crucial for our country. How do you identify projects to support?
Tafara: We work with developers in solar, wind, and hydro power—the cleanest energy sources. More broadly, all our projects must meet strict environmental and social standards. We evaluate their resource use, environmental impact, and more. In that sense, almost everything we do is “green.”
We also support electric mobility (e-mobility), which is well-suited to urban environments and environmentally friendly.
Future Outlook and Geopolitical Shifts
Togo First: Are there any flagship projects in the pipeline, here or in West Africa, particularly in innovative financing?
Tafara: Yes. I’m currently focusing on three priorities: equity financing, which is riskier but much more transformative; local currency financing, because borrowing in foreign currencies is often too risky for businesses earning in local currency; and energy, which is fundamental to development.
We are also working to increase the continent’s self-sufficiency: producing locally what we currently import—like medicine and food.
Togo First: Togo has now consistent ties with countries like China, as business and investment partners. How does IFC - that typically could be seen as a Western institution - position itself in this South-South dynamic?
Tafara: South-South cooperation is a good thing. Emerging markets should build stronger economic ties among themselves. Asian countries, and even leading African economies, are investing in our markets. That’s a positive development.
Our mission—to reduce poverty and create jobs—remains unchanged, regardless of geopolitical tensions. That’s what has kept us relevant for 80 years.
Togo First: With rising isolationism in the U.S., do you fear funding cuts, like those recently seen at the WHO or the AfDB?
Tafara: IFC does not depend on direct donor contributions. Our balance sheet is strong, allowing us to meet our clients’ financing needs. And none of our shareholders oppose job creation—it fosters stability and reduces migration. Our mission remains “timeless.”
Togo First: Any final thoughts?
Tafara: Africa is at a turning point. By 2050, a quarter of the global workforce will be African. This demographic dividend is a major opportunity—provided we can create productive jobs. That means investing in agricultural value chains, and also in tourism, which remains underutilized despite the continent’s enormous potential.
Interview by Ayi Renaud Dossavi
Togo to Digitize 100% SOTRAL Bus Ticket Sales by 2026
The Ministry of Transport in Togo announced that starting early 2026, all SOTRAL bus tickets will be sold digitally. The ministry has been developing this digital ticketing system for several months as part of government reforms.
The digital ticketing follows a two-month pilot on student routes at the end of last year. After this trial, the Ministry and the operator Yas Togo are expanding the system to cover the entire SOTRAL network. Their goal is to boost the efficiency and quality of public urban transport.
The system will use a USSD code allowing passengers to buy tickets digitally, making public transport more accessible. This project complements the ongoing modernization of public transport in Togo and the renewal of SOTRAL’s bus fleet, which started in 2022 with an investment exceeding CFA15 billion.
SOTRAL launched in September 2008 with a test line from BIA to Adidogomé. It has since become Lomé’s main urban bus operator. The company runs about 500 trips daily and transports nearly 26,000 passengers daily.
Esaïe Edoh
Togo: Chamber of Commerce to Hold Open Days Nationwide, Starting May 16
On May 16, the Togolese Chamber of Commerce and Industry (CCI-Togo) will hold an Open Day across all regions and in Lomé. This will be a first for the Chamber.
The goal is to make the CCIT’s services more accessible to the public and to inform entrepreneurs, traders, and investors about the Chamber’s roles and missions.
The event creates a platform for direct dialogue between the Chamber and private sector leaders.
Visitors will have the opportunity to connect with CCI experts and learn about the challenges in Togo’s economic environment.
Currently led by José Kwassi Symenouh, the CCI-Togo seeks to strengthen its role as the private sector’s link to public authorities. Another ambition is to drive innovation and economic resilience in Togo.
Economic Commission for Africa to Boost Cooperation with Togo, with Focus on Four Areas
The United Nations Economic Commission for Africa (UNECA) wants to deepen cooperation with Togo across four critical economic fronts. On May 12, 2025, in Lomé, UNECA Executive Secretary Clavier Gazette met with Togolese leader Faure Gnassingbé. They met on the sidelines of the first African conference on public debt, in the Togolese capital.
UNECA will focus its support on four priorities: implementing the African Continental Free Trade Area (AfCFTA), improving national statistics, especially by recalibrating Togo’s gross domestic product (GDP), strengthening technological capacity in tax administration to raise the tax-to-GDP ratio, and enhancing the efficiency of government action.
UNECA believes these areas will drive Togo’s economic development and help the country reach its growth targets.
UNECA Executive Secretary Clavier Gazette praised Togo’s recent reforms, lauding the government’s efforts to improve the business climate and attract new investors. Gazette also congratulated Lomé for hosting Africa’s first conference on public debt.
This article Esaïe Edoh
Togo Seeks Project Manager for Public Procurement Digitization Project
The Togolese government plans to digitize public procurement to modernize economic governance. The Ministry of Public Service Reform has launched a tender to recruit a project manager for the electronic public procurement (e-GP) system, the Public Procurement Regulatory Authority (ARCOP) announced.
This effort is part of the Public Administration Modernisation Programme for Service Delivery (PMADS), funded by the World Bank’s International Development Association (IDA).
The digital system aims to create a more transparent, efficient, and fully digitized public procurement framework. The hired project manager will plan activities, coordinate technical and institutional efforts, oversee IT development, and support all stakeholders during the transition. Responsibilities include developing a roadmap, working closely with ARCOP and Agence Togo Digital, and organizing training for public buyers and suppliers.
The project will focus on system bankability, procedure quality, and risk management. The government says this digital system will help Togo meet international standards, boost transparency in public spending, and enhance local business competitiveness.
Candidates must apply by 22 May 2025.
This article was initially published in French by Ayi Renaud Dossavi
Edited in English by Ange Jason Quenum
Togo: The Maritime Single Window Collects CFA6.2 Billion in First Year
Togo’s maritime sector collected CFA6.2 billion through the Maritime Non-Tax Revenue Single Window or Guichet unique des redevances et recettes non fiscales du secteur maritime (GRM) in its first year of activity, from October 2023 to November 2024. The Permanent Secretariat for Monitoring Reform Policies and Financial Programs reported the figure in a recent evaluation.
The mobilization was fostered by the digitization of key procedures. These include applications for secure vessel shelter, transshipment operations at sea, vessel exit after transshipment, armed guard on board, and armed escort. The digitization process also covers the issuance of fishing licenses, technical feasibility certificates for aquaculture projects, and authorizations for laying submarine cables.
Beyond revenue collection, the GRM tracked all port operations. During the period, operators transshipped 510,805,873 barrels of hydrocarbons in Togolese waters.
The GRM forms part of Togo’s broader reforms to boost logistics competitiveness by modernizing the port and digitizing processes. It functions like theSingle Window for Foreign Trade or Guichet unique pour le commerce extérieur (Seguce), active since 2014. However, the GRM has three major goals: providing operators a single, digital payment point; ensuring effective fee and fine collection; and facilitating port performance monitoring.
Esaïe Edoh
Togo launches the High Intensity Labor Project in the Savanes region
In partnership with the International Labor Organization (ILO), the Togolese government launched the High Intensity Labor (HIMO) project on May 12, 2025, in Lomé. The initiative creates temporary jobs for vulnerable populations. It aims to boost employment and strengthen social cohesion amid a fragile security situation.
Over the next 12 months, the program will carry out labor-intensive community work. Workers will maintain rural tracks, plant trees, engage in public works, and receive practical training. The target groups include young people, women, and displaced persons.
This approach delivers immediate income and promotes lasting professional integration. “The HIMO project is intended to be a concrete response, adapted to local realities, to restore hope in communities, create a local economic fabric, and strengthen resilience in the face of everyday difficulties,” said Jacques Alandja, Cabinet Director of the Ministry of Labor.
The initiative is part of the Emergency Program for the Savanes region (PURS), which supports vulnerable populations in northern Togo.
Togo: Trade Ministry Trains New Agents on Product Tracking
The Togolese Ministry of Trade and Local Consumption is training its new agents in product traceability. Since May 13, 2025, about 60 newly hired civil servants have undergone intensive training on secure product marking and regulatory control tools. This is to better deal more efficiently with the circulation of non-compliant products and protect consumers.
The workshop ends today, May 15. Organized with technical support from SICPA S.A, it fits into the Ministry’s capacity-building efforts, following guidelines set by Minister Rose Kayi Mivedor-Sambiani.
Commenting on the initiative, Atekpe Makiliwè, Director of Internal Trade and Competition, said: “Trainee civil servants need to be seriously seasoned in certain modules.”
The program combines theoretical lessons on the Automated Marking Solution (SAM), which Togo currently uses, with practical field exercises. Agents should learn to identify products requiring marking, verify security sticker validity, and use detection tools in markets and supermarkets.
The training will help improve product controls, ensure reliable distribution chains, and promote healthy competition.
Lomé Hosts Sub-Regional Workshop on Sustainable Timber Trade Regulation
Experts from Togo, Benin, Côte d'Ivoire, Ghana, Liberia, and Mali are holding a meeting on timber trade regulation and the protection of endangered forest species. The workshop kicked off in Lomé, Togo’s capital, on Tuesday, May 13.
The International Tropical Timber Organization (ITTO) and the Office de Développement et d'Exploitation des Forêts (ODEF) are behind the roundtable. Their goal is to improve the issuance of non-detriment findings (NDFs), a critical step for sustainable tropical timber exports.
Dr. Pyabalo Alaba, Managing Director of ODEF, stressed the importance of defining sustainability before exploitation. He said, "Before we start, we need to know what is sustainable to exploit. This workshop is crucial to harmonizing our practices." The ultimate objective is to balance trade with conservation.
Foli-Bazi Katari, Togo’s Minister for the Environment, opened the meeting and praised national achievements. He highlighted securing 14 protected areas, developing 171 community forests, and drafting a law on managing protected areas. These efforts aim to leverage conservation for local development.
BOAD Invested over CFA1 Trillion in Togo since 1976
The West African Development Bank (BOAD) has pumped CFA1,037.5 billion into Togo since 1976. The bank announced this milestone on April 27, 2025, as Togo marked its 65th year of independence.
BOAD says these investments show its long-term commitment to Togo, a member of the West African Economic and Monetary Union (WAEMU). The bank has funded projects in agriculture, energy, environment, roads, and public real estate.
BOAD includes these efforts in its broader plan to drive sustainable growth in all member countries. In early 2025, under the “Djoliba” strategic plan, BOAD gave Togo CFA40 billion to cover urgent energy costs, including unpaid electricity bills. The bank also provided CFA20 billion for building and running Lomé’s ministerial city, a project managed by Société de Construction de la Cité Ministérielle (SOCOCIM SAU).
BOAD, founded in 1973 and active since 1976, has become a key financial engine for WAEMU states. Over the years, the bank has expanded its mission to address climate resilience, social inclusion, and public investment governance.
This article was initially published in French byEsaïe Edoh
Edited in English by Ange Jason Quenum