Port of Lomé: Stake of the Togolese government in Togo Terminal rises by 25%

Logistics

Monday, 06 March 2023 14:59

Port of Lomé: Stake of the Togolese government in Togo Terminal rises by 25%

(Togo First) - About a week ago, the Togolese government revealed that its stake in Togo Terminal went from 5% to 30%. This is the fruit of a highly-anticipated deal between Lomé and the terminal’s owner, MSC, ending a four-year-long legal dispute between the two sides.

Commenting on the deal, the Council of Ministers of Togo said it “welcomes this win-win agreement that is proof of a mature partnership between the two actors". In addition, the Council added that it appointed two additional directors to the Terminal’s board.

For the Togolese authorities, the stake increase “paves the way for new investments and new partners” which will contribute to the port of Lomé’s development.

Operated by MSC, the Togo Terminal processes the most significant volume of containers in Togo, after the Lomé Container Terminal (LCT). The latter is also operated by MSC, via its subsidiary, Terminal Investment Limited (TIL).

The Togo Terminal has been active since 2001 and is a major actor in the port of Lomé.

Ayi Renaud Dossavi

REFORMS OVERVIEW

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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 .

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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)

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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)

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