Togo, a gateway to West Africa.
Over the past decade Togo has experienced strong and sustained economic growth, and today it has one of the best performing economies in the region. This economic recovery has allowed Togo to emerge as a dynamic player in the region and an increasingly attractive opportunity for international investors.
Lomé is home to the regional airline, Asky, the Pan African Bank, Ecobank, and the Port of Lomé which is the deepest port in the region. The Port offers competitive tariffs for transiting cargos within a reasonable time frame. In order to create an enabling environment for businesses, the Government of Togo has adopted significant reforms, such as: the passing of a new investment code, streamlining of procedures to start businesses, enhanced transparency in the extractive industry, and the creation of a new commercial court.
Togo has also embarked on a partnership with the U.S. government’s Milennium Challenge Corporation to launch a threshold assistance program that will significantly transform the telecommunications and agriculture sectors and make them more competitive and open to market forces.
The country’s economy recorded a growth rate of 6% in 2015.
The economy of Togo is dominated by commercial and subsistence agriculture. The production of cash and subsistence crops accounts for 47% of the county’s GDP and employs 65% of the population. The mining sector is one of the most promising economic sectors of Togo, the fourth biggest producer of phosphate. Estimated at 60 million tons, its reserves could be a boost for the industry.
After a period of uncertainties in the 90’s, Togo has, since 2007, revamped its economy and laid down firm foundations for its economic growth,which now ranks among the best economies in the region:
– Restoration of security and stabilityat all levels;
– The construction of growth-generating logistic infrastructure (roads, sea and air ports) and the development of supporting service sectors (bank, telecommunication, and energy)
– Stimulation of key productive sectors of the economy (agriculture)
As a result of these economic recovery activities, Togo has become a dynamic player in the region resulting into significant economic boomsthereby regaining the confidence of international investors (e.g. Bolloré, MSC, Asky, Ecobank headquarters, Etisalat, Contour Global).
This is a clear demonstration that Togo has the capacity and leewayto carry out high level projects within a record breaking time. (e.g. two major investment projects at the port and the construction of a new terminal at the airport all carried out in less than two years).
Today, in a bid to accelerate the country’s development, the Government is committed to maintaining a more attractive business environment for stimulating international investments and enhance the dynamics for investment.
For instance, improving the business climate is absolutely atop priority of the Government. The establishment of a business taskforce, dedicated and well-connected and the implementation of initiatives with palpable impacts (one stop shop for external trade) are all proves of the Government’s commitment to creating a business friendly environment in Togo.
Togo proposes an intrinsically attractive market to investors (with an exemplary stability in the region), a gateway to the region (thanks to its state-of-the-art transport infrastructure) and a quality partnership with the State.
In concrete terms, close to 20 projects across 9 sectors,based on the country’s competitive advantage, offer investors the irresistible edge to get on board the next flight to Togo for business.
Situated midway the Abidjan-Lagos corridor and right at the heart of West Africa, Togo remains a hub for the West African Economic and Monetary Union and a common market for rapid integration.
The country offers many investment opportunities in the following sectors:
- Infrastructure
- Energy
- Agriculture
- Mining
- Tourism
Infrastructure
Development of railway, sea and air ports and road infrastructure to make Togo an economic hub in West Africa.
Energy
Greater part of the power generated in Togo is from thermal plants; but the country has two hydropower dams.
66% of the country’s population live in rural areas and consume less than 10% of power. To ensure an equitable development in the country and to improve on the livelihood of the people, both at the urban and rural areas, the country has focused its new energy policies on renewable sources (solar, wind, biogas and micro-hydro dams). Each of these energy sources has a great potential in terms of generation capacity yet insufficiently harnessed.
Agriculture
Agriculture employs 70% of the workforce and accounts for 38% of the country’s GDP.
Of the 3.4 million ha of useful agricultural lands, food crops are cultivated on close to 1,387,568 ha (representing 41%) as against 154,314 ha for cash crops (representing 4.5%). The total untapped agricultural lands, including fodder and grazing fields, is estimated at 37%, translating into some 1.2 million ha.
As the economic pillar, the growth of this sector is based on productivity and added value.
Mining
Mining currently represents 17% of exports in Togo and accounts for 10% of the Government’s revenue. Togo has natural resources such as iron, manganese, chromite ore, bauxite, nickel, phosphate, limestone, peat, garnet,marble, ornamental stones, clays etc.
Deep water port
With a depth of 14 metres, the Lomé Port is the only deep water port along the West African coast that can accommodate 3rd generation vessels.
Exceptional natural and nautical conditions
The Port basin is bordered by two seawalls of 950 m and 1720 m long which protect the port against silting. Moreover, the port enjoys a low tidal range of 1.20 m and moderate wind. These conditions allow a 24/7 access to the port by all types of vessels.
Free Port
Thanks to its free port status, the handling and transfer of goods in the Port of Lomé are carried out without any customs constraints, thereby helping to save appreciable time in vessels and goods handling operations. The Port has a large free zone area which serves as an industrial hub where factories are located.
Vast Port Area
As a trade hub, the Port of Lomé, with a total surface area of 900 ha, is the pole of attraction for businesses and industries thanks to a vast area for industrial free zone where many factories are sited. These businesses take advantage quality port infrastructure, business friendly regulations as well as tax and customs incentives.
Optimal security of goods and quick cargos handling
The Port of Lomé is the most secured port in West Africa. It is an ISPS (International Ship and Port Facility Security) certified port. One of the advantages of the Port of Lomé is that it is the fastness in administrative formalities which is the result of concerted effort of port and customs officials.
Togo, a gateway to West Africa.
Since 2007, the country has seriously worked its ways onto the path of sustained economic growth; which currently is one of the most performing economies in the region. This economic recovery has repositioned Togo as a dynamic player in the region resulting into significant economic boomshence gaining the confidence of international investors.
Lomé is home to the regional airline, Asky, the Pan African Bank, Ecobank, and the Port of Lomé which is the only port along the coast by which one could get to many capital cities just within a day. The Port offers competitive tariffs for transiting cargos within a reasonable time frame. In order to create an enabling environment for businesses, the Government of Togo has adopted reforms namely: the passing of a new investment code, eased the practice of doing business, joined the initiative for transparency in the extractive industry, and has established a new commercial court.
The country’s economy recorded a growth rate of 6% in 2015.
The economy of Togo is dominated by commercial and subsistence agriculture. The production of cash and subsistence crops accounts for 47% of the county’s GDP and employs 65% of the population. The mining sector is one of the most promising economic sectors of Togo, the fourth biggest producer of phosphate. Estimated at 60 million tons, its reserves could be a boost for the industry.
After a period of uncertainties in the 90’s, Togo has, since 2007, revamped its economy and laid down firm foundations for its economic growth,which now ranks among the best economies in the region:
– Restoration of security and stabilityat all levels;
– The construction of growth-generating logistic infrastructure (roads, sea and air ports) and the development of supporting service sectors (bank, telecommunication, and energy)
– Stimulation of key productive sectors of the economy (agriculture)
As a result of these economic recovery activities, Togo has become a dynamic player in the region resulting into significant economic boomsthereby regaining the confidence of international investors (e.g. Bolloré, MSC, Asky, Ecobank headquarters, Etisalat, Contour Global).
This is a clear demonstration that Togo has the capacity and leewayto carry out high level projects within a record breaking time. (e.g. two major investment projects at the port and the construction of a new terminal at the airport all carried out in less than two years).
Today, in a bid to accelerate the country’s development, the Government is committed to maintaining a more attractive business environment for stimulating international investments and enhance the dynamics for investment.
For instance, improving the business climate is absolutely atop priority of the Government. The establishment of a business taskforce, dedicated and well-connected and the implementation of initiatives with palpable impacts (one stop shop for external trade) are all proves of the Government’s commitment to creating a business friendly environment in Togo.
Togo proposes an intrinsically attractive market to investors (with an exemplary stability in the region), a gateway to the region (thanks to its state-of-the-art transport infrastructure) and a quality partnership with the State.
In concrete terms, close to 20 projects across 9 sectors,based on the country’s competitive advantage, offer investors the irresistible edge to get on board the next flight to Togo for business.
Situated midway the Abidjan-Lagos corridor and right at the heart of West Africa, Togo remains a hub for the West African Economic and Monetary Union and a common market for rapid integration.
The country offers many investment opportunities in the following sectors:
- Infrastructure
- Energy
- Agriculture
- Mining
- Tourism
Infrastructure
Development of railway, sea and air ports and road infrastructure to make Togo an economic hub in West Africa.
Energy
Greater part of the power generated in Togo is from thermal plants; but the country has two hydropower dams.
66% of the country’s population live in rural areas and consume less than 10% of power. To ensure an equitable development in the country and to improve on the livelihood of the people, both at the urban and rural areas, the country has focused its new energy policies on renewable sources (solar, wind, biogas and micro-hydro dams). Each of these energy sources has a great potential in terms of generation capacity yet insufficiently harnessed.
Agriculture
Agriculture employs 70% of the workforce and accounts for 38% of the country’s GDP.
Of the 3.4 million ha of useful agricultural lands, food crops are cultivated on close to 1,387,568 ha (representing 41%) as against 154,314 ha for cash crops (representing 4.5%). The total untapped agricultural lands, including fodder and grazing fields, is estimated at 37%, translating into some 1.2 million ha.
As the economic pillar, the growth of this sector is based on productivity and added value.
Mining
Mining currently represents 17% of exports in Togo and accounts for 10% of the Government’s revenue. Togo has natural resources such as iron, manganese, chromite ore, bauxite, nickel, phosphate, limestone, peat, garnet,marble, ornamental stones, clays etc.
Deep water port
With a depth of 14 metres, the Lomé Port is the only deep water port along the West African coast that can accommodate 3rd generation vessels.
Exceptional natural and nautical conditions
The Port basin is bordered by two seawalls of 950 m and 1720 m long which protect the port against silting. Moreover, the port enjoys a low tidal range of 1.20 m and moderate wind. These conditions allow a 24/7 access to the port by all types of vessels.
Free Port
Thanks to its free port status, the handling and transfer of goods in the Port of Lomé are carried out without any customs constraints, thereby helping to save appreciable time in vessels and goods handling operations. The Port has a large free zone area which serves as an industrial hub where factories are located.
Vast Port Area
As a trade hub, the Port of Lomé, with a total surface area of 900 ha, is the pole of attraction for businesses and industries thanks to a vast area for industrial free zone where many factories are sited. These businesses take advantage quality port infrastructure, business friendly regulations as well as tax and customs incentives.
Optimal security of goods and quick cargos handling
The Port of Lomé is the most secured port in West Africa. It is an ISPS (International Ship and Port Facility Security) certified port. One of the advantages of the Port of Lomé is that it is the fastness in administrative formalities which is the result of concerted effort of port and customs officials.
