Overview of Reforms in Togo
Togo is making strides to improve its business environment. In 2020, the country ranked fifteenth worldwide and first in Africa for starting a business. This ranking reflects Togo’s commitment to ongoing reforms.
Enforcing Contracts
In recent years, Togo has greatly improved its ranking in enforcing contracts. Just a few years ago, it was among the lowest. Now, with targeted reforms, Togo has made significant progress in this area.
Contract Execution Improvements
- Creation of specialized chambers for small debts
- Establishment of commercial courts in Lomé and Kara
- Distinct clerks for civil and commercial cases
- Access for lawyers to the FORSETI COMMERCIAL platform
- A maximum of 100 days to settle a commercial dispute
Trading Across Borders
Togo’s efforts to digitize and streamline import and export processes have paid off. The country has risen in the global ranking for trading across borders by reducing delays and implementing various reforms.
Construction Permits
Togo’s position improved from 133rd to 127th in the construction permit index. The government introduced reforms to further enhance this ranking.
Access to Electricity
In the past two years, Togo has consistently improved its ranking for accessing electricity. Ongoing reforms aim to make it easier for businesses to get power and water.
Property Registration
Togo has made significant strides in registering property since 2018. The country seeks to surpass Rwanda, currently the best in Africa for property registration.
Public Procurement
Ongoing reforms aim to modernize Togo’s public procurement framework, benefiting the private sector. Digitization and professionalization are key focuses in these updates.
Paying Taxes and Duties
Togo has revamped its tax system to create a more attractive environment for investors. The government has replaced some taxes and introduced exemptions, primarily through digitization.
These reforms are essential for Togo’s development. They not only improve the business climate but also foster economic growth. As the country continues this journey, it sets an example for others in the region.
For a deeper look at these reforms, you can explore the World Bank Doing Business report for annual insights.
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