Togo: Nearly 12,000 Businesses Registered in January-September 2024 (CFE)

Economic governance
Monday, 21 October 2024 13:17
Togo: Nearly 12,000 Businesses Registered in January-September 2024 (CFE)

(Togo First) - Over the first nine months of 2024, 11,979 new businesses were registered in Togo. The data comes from the Centre for Business Formalities (CFE) where the businesses were registered. The figure is 2% more than that recorded over the same period the previous year–11,733.

Out of the almost 12,000 newly registered businesses from January to September, 9,940 were established by Togolese; foreigners established 2,039. Around 30% of the total, 3,566, were created by women. 

Quarterly, 4,017 new businesses were registered in Q3 2024, against 3,450 in Q3 2024.

The improved figure is attributable to Lomé’s pro-entrepreneurship reforms. Indeed, the government has ramped up efforts to bolster the business climate, including reducing the time and cost of setting up a business and digitizing formalization procedures.

Esaïe Edoh

 

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