Doing Business 2020: Togo is the 15th place where starting a business is easiest worldwide

Economic governance
Friday, 25 October 2019 11:51
Doing Business 2020: Togo is the 15th place where starting a business is easiest worldwide

(Togo First) - Over the past year, Togo has made remarkable progress regarding reforms easing business creation.

Indeed, according to the 2020 Doing Business report, the country "made starting a business easier by abolishing the requirement to notarize company documents and by reducing the time to register a company."

From the 84th position in the 2019 Doing Business, Togo soared to the 15th place where starting a business is the easiest around the world. The country scored 95.1 points in the latest DB report (against 88.7 points in the previous edition).

In detail, three steps, lasting two and a half days on average, are necessary for any person desiring to start a business in Togo. Compared to the rest of the sub-Saharan Africa region where this process takes about 21.5 days (9.2 days in the OECD zone), Togo is a "bright spot." Also, the cost of creating limited liability companies (LLCs) in the West African nation is XOF25,000 (about $40).

Ayi Renaud Dossavi

togofirst mobile

 
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