Togo: KfW has injected more than CFA100 billion into local projects so far

Economic governance

Monday, 14 March 2022 15:58

Togo: KfW has injected more than CFA100 billion into local projects so far

(Togo First) - The German Development Bank, KfW, has invested more than 102 billion CFA so far in Togo. The money was poured into seven projects spread in the following sectors: health, energy, decentralization, rural roads, technical and vocational education.

This was disclosed in the latest review of projects financed by the German Financial Cooperation in Togo, which was held virtually on March 10, as reported by the Togolese Presidency. The meeting was chaired by Ablamba Ahoéfavi Johnson (photo), Minister, Secretary-General of the Presidency of the Togolese Republic, in the presence of the Director of the Togo office of KFW, Sonja Wassermann.

“At the end of the meeting, both parties expressed their satisfaction with the positive results recorded and welcomed the dynamism of cooperation,” the government said.

For Togo, the review mainly helped it take stock of the implementation of the recommendations of the previous review (organized in November 2021), and the status of each project. It also was the occasion to align the country’s actions with the German partner “with the new dynamics of programming, implementation and monitoring and evaluation of public investments induced by the Government Roadmap 2020-2025,” the same source said.

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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.