Togo: State Secretariat in charge of financial inclusion starts a set of workshops on financial education for microfinance institutions

Economic governance

Thursday, 03 October 2019 13:53

Togo: State Secretariat in charge of financial inclusion starts a set of workshops on financial education for microfinance institutions

(Togo First) - Yesterday in Lomé, the first stage of a battery of training workshops dedicated to financial inclusion that will be organized over the whole country was launched.

This was done by Prince-Agbodjan, representative of Mazamesso Assih, State Secretary in charge of financial inclusion and the informal sector. On the occasion, he said the training is essential to teach Togolese how to manage financial resources and access loans.

The initiative follows, according to Price-Agbodjan, a finscope study that revealed that "53% of Togolese people say they need financial education" and "71% of them said they had financial issues to honor their commitments."

During the recent training, topics such as budgeting, savings, digital financial education, and others will be covered. The next locations to host the workshop are Tsévié, Kpalimé, Atakpamé, Sokodé, Kara, and Dapaong.

Séna Akoda

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)

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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)

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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)

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GETTING ELECTRICITY (more info)

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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.