INDICATORS

Indicators have been on the rise over the past five years

According to the Ibrahim Index of Governance in Africa (IIAG), after Côte d’Ivoire, Togo is the country that has implemented the most reforms on the continent, over the past five (2012-2016) to ten (2007-2016) years. This ranking is attributed to the many reforms undertaken by President Faure Gnassingbé since he came into power in 2005. As fighting corruption is one of the government’s key objective, it has put in place the High Authority for the Prevention and Fight against Corruption and Related Offenses.

Also, according to Doing Business (DB), the country’s business climate has recorded some improvements since 2008. Indeed, in this index, Togo moved from the 162nd position, in 2011, to the 156th position in 2017.

According to the Ibrahim Index of Governance in Africa, after Côte d’Ivoire, Togo is the country that has implemented the most reforms on the continent, over the past five (2012-2016) to ten (2007-2016) years.

 

Attesting of the government’s will to maintain this trend is the Business Climate Cell which was put in place to advise the administration in this regard and implement measures with a significant impact, such as the single desk for external trade and the single desk for companies creation.

To support the economy, Togolese government has initiated a battery of reforms aiming to ease business creation. Among others, minimum capital required for LLC creation was erased; same for registration fees and the compulsory economic operator card. The government has also initiated deep structural reforms, such as adopting a new investment code and setting a tribunal of commerce. Having many mining assets, Togo is part of the Initiative for Transparency in Extractive Industries (ITEI).

Moreover, the country has achieved some progress in regards to the privatization of some activities that were weighing on State budget. These include sectors like insurance, banking, hospitality, power supply, telecommunications and container handling.

Finally, the nation’s human development index grew from 0.44 in 2006 to 0.49 in 2015.

 

Main governance indicators

 (Source World Bank, govindicators.org)

Voice and Accountability

 Control of corruption

Government Efectivenes

Rule of Law

 

 

A key positon in West Africa

Located on the Abidjan-Lagos coastal axis, at the heart of West Africa, Togo is the crossroad of the West African Economic and Monetary Union and the common market growing within. The country offers many investment opportunities, namely in sectors such as infrastructures, energy, agriculture, mining, telecommunications and tourism.

Developments indicators

Since 2007, Togo’s government is trying to restart the economy and lay foundations for a more inclusive growth. These efforts made the country one of the most important actors in the region, with one of the highest growth rates across over the past five years.

The Bretton Woods institution forecast a 5.4% growth in 2020, while AfDB expects the figure to stand at 5.3%.

 

The trend should continue by 2020, according to the African Development Bank (AfDB) and the World Bank. The Bretton Woods institution forecast a 5.4% growth in 2020, while AfDB expects the figure to stand at 5.3%. These positive projections reassure international investors like Bolloré, MSC, Asky, Ecobank, Etisalat, Contour Global, among others.

So far, Lomé is home to the headquarters of regional airlines Asky, pan-African bank Ecobank and to the autonomous port of Lomé, which is the only port along the West African coast where it is possible to travel to many capitals in a day. In regard to the latter, government is working to augment its capacity. Actually, two major investments were made in the port, and a new airport terminal was built, in less than two years, thus reflecting the government’s will to make Lomé an attractive hub in the region. 

 

GDP per capita records 3% annual growth over 6 years

Over the past five years (2012-2016), Togo’s economy recorded an average annual growth rate of 5%; with average growth rate of population at 3% per annum, and 3% average annual growth for GDP per capita, also.

The economy is dominated by commercial and subsistence farming. According to OECD, subsistence (maize, cassava, yam, sorghum, millet, rice, beans, peanuts, etc.) and export (cotton, coffee, cocoa, etc.) oriented outputs make up to 40.7% of GDP. The sector employs 65% of active population.

Mining is one of the most promising sectors in Togo, as it is the fourth largest phosphate producer worldwide, with reserves estimated at 60 million tons, even though not much exploited. As for the secondary sector, it benefits from the performance of extractive and manufacturing industries.

Tertiary sector for its part enjoys a continuous rise of commercial exchanges at Lomé’s port and also of the boost in airport activities at the International Airport of Lomé.

 
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