By the end of 2024, the Approval Granting Committee in Togo has endorsed 37 investment projects, amounting to a total of 237 billion FCFA, as reported by the Permanent Secretariat for Monitoring Reform Policies and Financial Programs.
Of these projects, 12 have been approved under the free zone regime, 22 under the investment code regime, and 3 under the specific free zone status for textiles and clothing. According to Togolese authorities, these statistics highlight the country’s economic growth and the increasing interest of investors in Togo’s business landscape.
Breaking down the investment projects, 22 are attributed to foreign investors, representing foreign direct investments (FDI). These projects primarily focus on the construction and public works, agri-food, and agro-industry sectors, accounting for 156 billion FCFA, or 66% of the total validated investments.
The remaining 15 projects are classified as national direct investments (NDI), with funding amounting to 81 billion FCFA, or 34% of the total. These investments are predominantly in the agri-food, agro-industry, and plastics sectors.
This surge in investment activity underscores the growing appeal of Togo, which is reaping the benefits of a favorable economic environment resulting from reforms aimed at enhancing the business climate. This enhanced attractiveness is reflected in Togo’s score of 61 out of 100 in the inaugural World Bank B-Ready 2024 report, which evaluates the business environments of 50 economies worldwide. Notably, Togo experienced a remarkable 85% increase in FDI from 191 billion to 352.5 billion FCFA in 2020.
Ultimately, the execution of the projects approved in 2024 is expected to generate 4,548 permanent jobs in Togo, according to official projections.
