Togo: Export of transport services earned the country CFA111 billion in 2021, up by 6% YoY

Transport

Tuesday, 22 November 2022 14:07

Togo: Export of transport services earned the country CFA111 billion in 2021, up by 6% YoY

(Togo First) - Togo earned CFA111.1 billion from exporting transport services (by land, sea, and air) in 2021, or 6% more than it did in 2020 (CFA104 billion). The WAEMU’s Central Bank, the BCEAO, recently released a report where the figure was disclosed.

According to the Bank, Togo and Côte d’Ivoire, in the WAEMU, are the biggest winners in this segment. Mostly, revenues generated by land and sea transport are the highest. This is explained by port activities, service offered to shipowners, and supply to landlocked countries of the region.

"Indeed, services provided to foreign shipowners and land transport are the main source of revenue from transport services for the Union's member countries," wrote the BCEAO’s experts in their report – a document that covers the Union’s exports in 2021.

Togo and Côte d’Ivoire took advantage of the borders’ reopening. The latter fluidified trade within the WAEMU and led to a 3.6% increase in transport revenues.

"Transport revenues increased by 3.6% to CFA520.9 billion against CFA502.7 billion in 2020, due to the reopening of borders which was spurred by a mitigation of the effects of the health crisis,” the report notes.

While revenues from exporting transport services grew in 2021, the share of this segment in overall exported services was lower than the previous year. From 23.1% in 2020, this share stood at 20.8% in 2021. However, Togo and Côte d’Ivoire were still the top providers of transport services over the period concerned.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.