Africa > West Africa > Togo > Togo Outlook for 2015-17

Togo: Togo Outlook for 2015-17

2015/10/05

The country (Togo) is situated in Western Africa, bordering the Bight of Benin, between Ghana and Benin. It has borders with Benin for 644km, Burkina Faso for 126km and Ghana for 877km.

The climate is tropical, hot and humid in south and semiarid in the north. Togolese (singular and plural) speak French (official and the language of commerce), Ewe and Mina (the major African languages in the south), Kabye (sometimes spelled Kabiye) and Dagomba (the major African languages in the north).

Outlook for 2015-17

GDP grew by an estimated 5.5% in 2014, and is projected to grow by 5.7% in 2015 and 5.9% in 2016, thanks to investment in economic infrastructure and agricultural reforms. The new Scantogo-Mines industrial complex will begin large-scale limestone mining in 2015 to produce clinker and cement locally.

With a production capacity of 5 000 tonnes of clinker a day, the project will put an end to the sector’s poor performance (-9.8% in 2014), with production increasing by 69.4% in 2015 and a further 46.3% in 2016. Nevertheless, in general and potential increase of additional than 5% in the short and medium term could be hampered by overshadowing of the issues in the 2015 presidential elections by debate on whether the number of terms of office should be limited.

The World Bank statement, Doing Business 2015, lists Togo as one of the 10 world economies that have most improved their business environment, having moved 15 places up the businessenvironments ranking to 149th in the world. The tax office (Office togolais des recettes) has introduced several reforms in its operations, inclunding the obligation for officials to declare their assets; the possibility for taxpayers to lodge complaints using a Freephone number or by e-mail; and the obligation to pay tax through banks. The national is omnipresent throughout the electricity price chain, with national-owned enterprises enjoying heavily subsidised prices. These (XOF 148 [CFA Franc BCEAO]/kWh) are below cost but still too high to attract private investment . Since independence, Togo has at no time published a budget review law. B

ills were proposed for 2007, 2010, 2011, 2012 and 2013, but have not from presently on been debated in parliament due to a shortage of the skills required for this kind of government control exercise. On 31 December 2013, Togo had 92 microfinance institutions (MFIs) with outstanding loans of XOF 117 billion. Some 43% of the Togolese people are MFI beneficiaries, compared with 16% for all nations in the West African Economic and Monetary Union (WAEMU).

The proportion of each region’s people living in urban areas increases with proximity to the Maritime region, where the capital of Lomé is located. The Savanes region has a 5% urban people, the Kara region 8%, the Centrale region 7%, the Plateaux region 12% and the Maritime region 68%. The vast majority of people living in poverty reside in rural areas (78.9%). In 2014, the Maritime region, which covers only 11% of the country, collected 98% of tax revenue, employed 82% of doctors and consumed 86% of the country’s electricity. Togo is the only WAEMU country that has not from presently on decentralised. Decentralisation will begin in earnest in 2016 and will be decisive in conference the challenges of spatial inclusion.

Ease of Doing Business in Togo

Ease of Doing Business in Togo-globserver

Outlook for 2015-17

  • Increase, driven by agriculture and the development of transport infrastructure, was an estimated 5.5% in 2014 and is projected to reach 5.7% in 2015.
  • The inland revenue introduced the payment of taxes through banks in 2014 to facilitate business and tackle corruption.
  • Government decentralisation by 2016 is essential to reduce regional inequalities and disparities.
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