coopec-kara-reports-11-64-growth-in-loan-portfolio-for-2023
Economy - The Kara Savings and Credit Cooperative (COOPEC-Kara) shared its 2023 performance report recently, revealing a loan portfolio of 2.8 billion FCFA, an...
Energy - The Togolese Storage Company (STE), responsible for storing and distributing petroleum products, recently inaugurated a photovoltaic plant on its...
Finance - Lomé will host the 3rd edition of the International Forum on Digital Intermediation and Innovation (FONI) on May 16th and 17th at the 2 Février Hotel. The...
Finance - Recent data from the BCEAO reveals that the microfinance sector in West Africa, particularly in Togo, experienced growth by the end of December 2023,...
ITC - Moov Africa Togo (MAT) and Togo Cellulaire (TGC) were the WAEMU’s top two mobile internet service providers in 2023. The Togolese telecom watchdog, ARCEP,...
Politics - Togo's new constitution was enacted on Monday, May 6, 2024, by President Faure Gnassingbé. This change stems from a constitutional amendment adopted by...
Public finance - Togo recently launched a news simultaneous issue on the WAEMU securities market, seeking to raise CFA30 billion. Set to close on May 10, the operation...
Infrastructure - There are 126 licensed architects and 58 architecture firms in Togo at the moment. The National Order of Architects of Togo (ONAT) revealed this...
Politics - Togo's National Independent Electoral Commission (CENI) announced the provisional results of the April 29, 2024 legislative elections, revealing a...
Banking - The BCEAO injected CFA511 billion at a 5.5% rate into Togolese banks this week as part of its routine liquidity operations. A total of CFA7,400 billion...
Banking - It is a first for the Togo-based holding. It achieved the record amidst challenging monetary conditions in key markets like Nigeria and Ghana. According...
Social - In 2023, the number of French volunteers in Togo reached a record high of 2,113. This included 1,988 short-term missions, 72 civil service assignments,...
Politics - Rumors of low voter turnout in Togo's April 29 elections quickly spread on social media. The day following the elections, Dago Yabré, President of the...
Economic governance - Togo has entered a new phase of collaboration with global firms KPMG and McKinsey for implementing the Compact program. These renowned firms were selected...
Economic governance - International Workers' Day in Togo was marked by a meeting between the Minister of Public Service, Gilbert Bawara, and representatives of the Coordination...
Politics - Observer missions from the African Union (AU), ECOWAS, and CEN-SAD praised the smooth and transparent conduct of Togo's legislative and regional elections...
Energy - Last year, the Tinga Fund achieved 20,971 grid connections in Togo. This is about half, 52.42%, of the number the project had set eyes for 2023. The...
Energy - The Tinga Fund, after successful trials in various parts of Togo, is now being introduced in the Maritime region. On Friday, April 26th, the Minister...
Formation - Tony Elumelu Foundation: Togolese women entrepreneurs have until May 5 to apply to the Women Entrepreneurship for Africa Program In Togo, young women...
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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.

 

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