Togo has markedly improved its business climate, achieving 15th worldwide and 1st in Africa for Starting a Business in the 2020 Doing Business report. The nation has enacted significant reforms in enforcing contracts, trading, construction permits, electric utility access, property registration, public procurement, and taxation to enhance its attractiveness to investors.
In recent years, Togo has achieved notable progress in improving its business environment, reflected in its positioning as the fifteenth country globally and first in Africa in the 2020 Doing Business Starting a Business index. The nation has implemented significant reforms aimed at enhancing various aspects of business operations, underscoring its commitment to reformative dynamics. Under the Enforcing Contracts indicator, Togo has transformed its previous low ranking, owing to systematic efforts to ameliorate the business climate. The establishment of special chambers of commerce for small debts and the introduction of distinct clerks for civil and commercial cases, alongside the creation of commercial courts in major cities, are illustrative of these changes. A maximum resolution period of 100 days for commercial disputes has further streamlined contract execution processes. Moreover, Togo has enhanced its Trading Across Borders ranking through the digitization and timing reduction of import and export procedures. The country has transitioned from 133rd to 127th place in construction permits, with additional reforms anticipated to bolster this achievement in subsequent evaluations. The last two years have seen a consistent rise in Togo’s ratings for Getting Electricity, attributed to various reforms facilitating business access to essential utilities. Notably, the most significant advancement since 2018 has been in Property Registration, as Togo aspires to surpass Rwanda, the continent’s leading performer. In Public Procurement, Togo is modernizing its framework through professionalization and digitization initiatives. Additionally, measures to improve the tax landscape—including the replacement or cancellation of certain taxes and the implementation of exemptions—aim to attract investors by providing a favorable tax environment, supported by an emphasis on digital processes.
Togo’s business environment has undergone significant reforms over the past few years aimed at enhancing its competitiveness and appeal to investors. The World Bank’s Doing Business report serves as a benchmark for these improvements, detailing various indicators that assess the ease of doing business in different nations. Togo’s ranking across several categories has dramatically improved due to its commitment to reform and modernization of business practices, making it an emerging success story in Africa.
In summary, Togo’s dedication to reforming its business environment has yielded exceptional results, significantly improving its standing in multiple Doing Business indicators. The government’s initiatives across various sectors, including contract enforcement, trading, utility access, property registration, public procurement, and taxation, are evident in the positive advancements noted in recent rankings. These strategic reforms not only position Togo favorably on the global stage but also create an attractive landscape for domestic and international investors.
Original Source: www.togofirst.com
