Property Transfer in Togo: Improvements recorded between 2018 and 2021

Economic governance

Tuesday, 22 February 2022 17:17

Property Transfer in Togo: Improvements recorded between 2018 and 2021

(Togo First) - Togo processed 1,125 property transfer requests in 2021, up from 252 in 2018. According to the country’s Business Climate Cell (CCA) which released the figures on Feb 21, 2022, this represents a jump of over 300%.

The CCA attributes the performance mainly to the digitization of 99.32% of land titles in the country, making it easier to research data related to the titles. Other reasons include the establishment of a property transfer office, and fixing transfer fees to CFA35,000 instead of taking 4% of the transaction’s amount as done previously.

As of the end of April 2020, the property transfer process took a maximum of six hours to be completed. The following month, 90 transfer requests were processed, within 3 hours on average; this is against 60 per month for the whole quarter going from January to March the same year, and an average processing time of 8 days per request.

In parallel, the number of mortgages registered was up as well, by 39%, climbing from 670 in 2020 to 933 in 2021. This is consequent to steps taken by the government to speed up related procedures; such as reducing the processing time to 4 days on average from 15, between the two years. Measures were also introduced to make bank loans more accessible to private operators.

All reforms undertaken by Togo regarding property transfer enabled the country to soar in the Doing Business rankings - in 2020 and 2021- before the index was taken down. These reforms also bolstered FDIs in the country to over CFA352 billion in 2020, from CFA191 billion in 2019, according to the United Nations Conference on Trade and Development (UNCTAD).

Esaïe Edoh

ECOWAS Agriculture Fund Boosts Food Security Interventions Across West Africa

Togo and France Seek to Deepen Bilateral Cooperation in Economy and Diplomacy

Lomé Recently Welcomed MSC Diletta, Biggest Container Ship to Dock in West Africa, Ever

lome-recently-welcomed-msc-diletta-biggest-container-ship-to-dock-in-west-africa-ever

Téléperformance Opens CFA7.5 Billion Call Center in Lomé, Togo

teleperformance-opens-cfa7-5-billion-call-center-in-lome-togo

Vivace Group Opens CFA8 Billion Construction Equipment Factory at PIA

Togo: Public Debt Reached Almost 70% of GDP in 2024

Togo Bets on Youth to Revitalize Agriculture with New FAO-Backed Program

Togo: Grassroots Development Agency Hands Over Socio-Economic Infrastructure Across Three Regions

Togo: Datcha’s Old Textile Factory Comes Back to Life with CFA6B Investment

WAMU Securities: Togo Raises CFA22 Billion in Latest Operation

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.