Togo: Sandra Johnson in Morocco for World Bank-IMF annual meetings

Economy

Friday, 13 October 2023 15:12

Togo: Sandra Johnson in Morocco for World Bank-IMF annual meetings

(Togo First) - Togo is taking part in the ongoing annual meetings of the World Bank Group and the International Monetary Fund (IMF) in Marrakech, Morocco. The Togolese delegation is led by Sandra Ablamba Johnson, Minister Secretary General of the Presidency of the Republic and Country Governor of the World Bank.

The delegation is meeting with bilateral partners to find ways to boost employment, gender equality, and climate action in Togo, as well as discuss how the World Bank could intervene in times of crisis or emergency.

Last Monday, Johnson and her team met with Sergio Pimenta, Vice-President of the International Finance Corporation (IFC). "This bilateral meeting between the Togolese delegation and the IFC offered an opportunity to examine in detail current initiatives, notably the financing of social sectors such as health and housing," Sandra Johnson said.

The delegation also talked with the World Bank's Vice-President for West and Central Africa, Ousmane Diagana, who praised Togo for its "recent exceptional performance".

“At the meeting, the World Bank Group warmly congratulated our country on its recent outstanding performance. More specifically for the fiscal year 2023, our nation has distinguished itself by occupying: first place in disbursement rate at Group level and first position in terms of CPIA progression rate,” Sandra Johnson declared.

Esaïe Edoh

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.