Pan-African banking group Ecobank has been named “Best Bank in Africa 2025” by Global Finance magazine, the company said on Tuesday. The recognition came during the 32nd edition of the World’s Best Banks Awards.

Two Ecobank subsidiaries, in Togo and The Gambia, also received awards as the best banks in their respective countries.

A panel of financial analysts, banking consultants, business executives, and rating agencies cited Ecobank Transnational Incorporated’s (ETI) ability to serve customers effectively in complex environments while maintaining strong financial performance and laying the groundwork for sustainable growth.

The jury highlighted Ecobank’s asset growth, profitability, geographic reach, strategic partnerships, expansion into new markets, and product innovation as key factors behind the awards.

Jeremy Awori, Ecobank Group CEO, said the awards reflect the bank’s commitment to customer-centric strategies and a diverse financial product offering tailored to multinational corporations, financial institutions, and regional and international organizations.

“We maximize our impact through key product pillars including treasury management, trade finance, capital markets, lending, investment banking, and wealth and asset management,” Awori said in a statement.

The awards will be formally presented at the Global Finance Awards ceremony scheduled for October 18, 2025, at the National Press Club in Washington, D.C., coinciding with the annual meetings of the International Monetary Fund and the World Bank.

Ecobank, headquartered in Lomé, Togo, has a history of industry recognition. In 2024, its Togo subsidiary was named “Bank of the Year” for the fifth consecutive year by The Banker magazine.

This article was initially published in French by Esaïe Edoh 

Edited in English by Ange Jason Quenum

Togo has officially started renewing its Independent National Electoral Commission (CENI) on June 2, 2025. The National Assembly opened the candidate submission period, which will run until June 13.

The renewal targets five members: three from the extra-parliamentary opposition and two from civil society. Political parties outside the National Assembly and civil society organizations must submit their candidate files to the office of the National Assembly president, according to an official parliamentary statement.

This reshuffle comes ahead of the municipal elections scheduled for July 17, 2025. It also follows a recommendation from political actors gathered in the Permanent Consultation Framework (CPC). They called for revitalizing the CENI to ensure better representation and transparency in the electoral process.

The current CENI leadership, headed by Yago Dabré, has been in office beyond its mandate for several months. According to opposition parties, adding new members is essential for holding credible and peaceful elections.

This article was initially published in French by Esaïe Edoh

Edited in English by Ange Jason Quenum

The Togolese Ministry of Economy and Finance recently warned about a scam spreading on social media. The ministry exposed a fake note dated May 25, 2025, falsely claiming to launch “online investment sessions” linked to a supposed investment level chart.

The ministry categorically denied any involvement in this scam. The authorities labeled the note a deliberate digital fraud designed to deceive citizens, before stressing that they communicate only through official channels, mainly public media outlets.

Georges Barcola, the supervising minister, urged the public to stay alert against these scams. He also warned that the fraudsters face serious legal consequences.

Togo kicked off its 2025 national reforestation campaign on June 1. The government allocated CFA11.18 billion to the initiative, the Ministry of Environment confirmed through Togo Presse.

Under the campaign, the government plans to reforest 34,563 hectares by planting 37.71 million seedlings of different species. On day one, officials reported planting at least 2 million young trees.

This campaign supports Togo’s national goal to plant one billion trees by 2030 and boost forest cover to 25%. The Ministry of Environment leads the program to fight climate change, restore damaged ecosystems, and protect natural resources.

From June 5 to 17, Togo will hold the 4th Environment and Sustainable Development Fortnight (QEDD). The theme, “Pollution and Nuisance: What Solutions Can We Find?” aims to raise public awareness and promote sustainable habits. 

The event will feature activities to educate citizens on pollution, waste management, and climate change challenges.

This article was initially published in French by Esaïe Edoh 

Edited in English by Ola Schad Akinocho

Togo aims to train 50,000 students every year in artificial intelligence, coding, and digital English. The government started a pilot program this year at the University of Lomé, enrolling 1,500 students in the first phase of the project.

Officials say the program will equip young Togolese with essential digital economy skills. It supports inclusion and transforms the country’s workforce.

Cina Lawson, Minister of Digitalization and Digital Economy, calls this “a strategic investment in Togo’s technological sovereignty.”

The program is developed with U.S. startup Kira Learning to offer free training nationwide. It covers AI, Python programming, and digital English.

Andrea Pasinetti, CEO of Kira Learning, praises the partnership as “visionary,” putting Togo at the forefront of digital education in Africa.

The training is fully online. It combines interactive videos, hands-on exercises, and personalized help from an AI tutor. Graduates earn certificates from both Togolese universities and Kira Learning, with an option for international accreditation.

The program welcomes students from science, humanities, and literature.

This article was initially published in French by Ayi Renaud Dossavi

Edited in English by Ange Jason Quenum

About 30 Togolese and Turkish entrepreneurs gathered in Lomé on May 27 for the Turkey-Togo Business Forum. The World Cooperation Industries Forum (WCI Forum) organized the event to boost economic cooperation between the two countries.

Business leaders from sectors like food processing, electrical appliances, construction, agriculture, textiles, industrial materials, and cosmetics discussed investment opportunities in Togo. They explored partnerships to support Togo’s economic diversification efforts.

The organizers aim for this forum to go beyond simple trade talks. They want it to become a strategic platform linking economic and political leaders. Their goal is to attract foreign direct investment (FDI) and strengthen economic ties between Lomé and Ankara.

José Symenouh, President of the Chamber of Commerce and Industry of Togo (CCI-Togo), opened the forum by saying, “Our dynamic private sector, backed by a strategic vision, is ready to forge solid partnerships. Togo is a strategic hub, with a competitive Free Zone and an ever-improving business climate.”

The CCI-Togo highlighted Togo’s key advantages to Turkish partners. These include the Autonomous Port of Lomé, the only deep-water port in the region that can handle large vessels. They also pointed to Togo’s strong financial ecosystem, supported by major regional institutions like BOAD, BIDC, and the pan-African banking group Ecobank.

This Lomé forum follows an earlier economic meeting held in Aného in November 2024, where operators from both countries made initial contacts. These efforts aim to build a long-term trade relationship between Togo and Turkey.

Muteber Kılıç, Turkish ambassador to Togo, noted that trade between the two countries reached nearly $300 million in 2023.

This article was initially published in French by Esaïe Edoh 

Edited in English by Ange Jason Quenum

The Togolese government struck a new deal with the International Monetary Fund (IMF) following the second review of its economic program under the Extended Credit Facility (ECF). 

After weeks of talks in Lomé and Washington, both sides reached a “staff-level” technical agreement. This deal clears the way for a $58.4 million disbursement (about 44 million Special Drawing Rights), pending final approval from the IMF Executive Board.

Strong Economic Fundamentals

The IMF praised Togo’s economic progress. The country grew by an estimated 5.3% in 2024, led by strong gains in agriculture and services. Inflation dropped sharply to 2.6% in April 2025, down from a post-pandemic high above 7%.

However, the IMF flagged one issue: Togo missed a fiscal performance target. The government explained that unexpected public spending on flood relief and fertilizer subsidies widened the budget deficit and increased debt faster than planned.

Structural Reforms and Governance Improvements Gain Praise

Despite fiscal challenges, the IMF recognized Togo’s progress on reforms. The government improved risk assessment in the state budget and recapitalized the last public bank, bringing it into compliance with WAEMU banking regulations.

On the governance front, the government committed to revising public procurement laws, requiring the disclosure of ultimate beneficiaries in public contracts, and launching a governance diagnostic with the IMF. According to the institution, this process is underway, and results will be made public.

The ECF program totals $390 million over three years. It aims to restore debt sustainability and boost the state’s ability to support inclusive growth. The IMF and Togo are now preparing for the third review, planned for the second half of 2025.

Fiacre E. Kakpo

Togo produced 60,403 tonnes of seed cotton during the 2024-2025 season, down 9.8% from 67,000 tonnes in the previous season. The recent output was also 8.4% shorter than the initial forecast of 66,000 tonnes. The figures were disclosed by the Nouvelle Société Cotonnière du Togo (NSCT) during the sector’s national review meeting in Kara on May 28, 2025.

Industry insiders attribute the drop to irregular rainfall and other hazards in the cotton-growing zones.

Despite the setback, NSCT officials and producers say the numbers show “the resilience of the industry” amid ongoing challenges.

The drop adds pressure on Singapore’s Olam Group, which has controlled Togo’s cotton sector since 2020. Since Olam’s takeover, production has struggled to exceed 60,000 tonnes—except for a brief rebound to 67,000 tonnes in the 2023-2024 season.

During the Kara meeting, producers pledged to revive the sector. Among others, they aim to sow 110,000 hectares and produce 93,000 tonnes of seed cotton in the coming season.

To hit the targets, Lomé will keep incentive prices steady despite economic pressures. It fixed the purchase price of seed cotton at CFA300 per kilogram. It also maintained fertilizer prices (NPKSB and Urea) at CFA14,000 per bag. The NSCT explained, “This decision is aimed at relieving producers in the face of the general rise in input costs on the international market.”

This article was initially published in French by Esaïe Edoh

Edited in English by Ola Schad Akinocho

Togo postponed its municipal elections from July 10 to July 17, 2025. The Ministry of Territorial Administration announced the change on May 29, citing a presidential decree.

The delay, the Ministry explained, was requested by political parties, especially the opposition. They wanted more time to prepare properly.

The Ministry had also extended the deadline for submitting candidacies. It moved from May 29 to midnight on June 1.

The new schedule changes advance voting for defense, security, and paramilitary forces. They will vote on July 14, three days before the general population. This early vote lets them focus on maintaining order and securing the election day.

The electoral campaign will run from midnight on July 1, to 11:59 p.m. on July 15. This period allows parties, independent lists, and candidates to present their plans to voters nationwide.

In a second press release the same day, the Ministry clarified the number of municipal council seats. A May 21 decree had raised the total to 1,667 seats. The Ministry reverted it to the original 1,527 seats, following the 2018 legal provisions.

These municipal elections mark the second local vote since Togo reintroduced communes in 2019 as part of its decentralization efforts.

This article was initially published in French by Esaïe Edoh

Edited in English by Ange Jason Quenum

Togo secured $38.9 million from the African Development Bank (AfDB) to boost its agro-industrial transformation. Lomé signed two financing deals in this framework on May 28 in Abidjan, Côte d’Ivoire. The funds include a $29 million grant from the Green Climate Fund and a $9.9 million loan from the AfDB.

The money will fund Special Agro-Industrial Transformation Zones (ZSTA), which will house climate-resilient agricultural infrastructure.

Commenting on the project, Essowè Georges Barcola, Minister of Economy, said: “This project embodies Togo’s commitment to building sustainable, high-value agriculture while strengthening the resilience of small producers.”

Nnenna Nwabufo, AfDB Vice President, called this the first Green Climate Fund financing aimed at a ZSTA in Africa. She highlighted the focus on agroforestry, low-carbon irrigation, and early warning systems.

Facilities built under the program will cover roughly 10,000 hectares.

This article was initially published in French by Ayi Renaud Dossavi

Edited in English by Ange Jason Quenum