Togo consolidates its progress in terms of business environment with 9 indicators validated out of 10
Global recognition: Togo among the best in Africa
Three years after the suspension of the Doing Business report, Togo is making a remarkable comeback in international rankings thanks to the new World Bank report, entitled Business Ready (B-Ready). This report, published on October 3, 2024, places Togo among the best performing African countries in terms of economic reforms, alongside Rwanda and Mauritius.
A positive assessment: 61 points out of 100 and 9 indicators validated
The B-Ready report, which assesses the progress of 50 leading economies, gives Togo an overall score of 61 points out of 100. The country validated 9 of the 10 key indicators related to the business life cycle, covering areas such as business creation, access to public services, taxation, international trade, and labor. However, the assessment suggests that further efforts are needed regarding market competition, the only indicator where Togo still needs to improve.
Structural reforms that are beneficial
Togo’s progress is the result of a series of ambitious reforms implemented in recent years to improve the business environment. These reforms include incentives to attract investment and strengthen the involvement of the private sector and international partners. Already recognized in the previous Doing Business ranking for its remarkable progress in 2019, Togo continues to capitalize on this reform momentum.
A government commitment to the private sector
Sandra Johnson, Minister and Secretary General of the Presidency of the Republic, as well as Governor of the World Bank for Togo, reaffirmed the government’s commitment to pursuing these reforms. According to her, the objective is to strengthen the attractiveness of the Togolese economy and fully unleash the potential of the private sector.
Conclusion
Togo confirms its position as a reforming and attractive country for business, thanks to structured initiatives that have enabled it to validate 9 out of 10 key indicators in the B-Ready report. This commitment to the continuous improvement of the business environment reflects the country’s desire to stimulate its economy and establish itself as a competitive player on the international scene.
