Togo is in the process of creating a permanent consultation framework that connects economic stakeholders with the Ministry of Commerce. This initiative was introduced to various economic actors in Lomé on Tuesday, February 25, 2025.
Once implemented, this framework will convene economic operators and ministry representatives at scheduled intervals to anticipate price changes and prevent sudden price hikes typically experienced during high consumption periods, such as the holiday season, Ramadan, or the beginning of the school year.
“We will no longer need to wait for these times to witness price surges before organizing a consultation meeting,” emphasized Comlan Yakpey, Secretary General of the Ministry of Commerce.
The primary objective of this body will be to maintain price stability, ensure product availability in the market, monitor price trends, and enhance transaction transparency. It will also be responsible for suggesting suitable measures to safeguard consumers from speculation and unchecked price increases.
In addition to basic goods, special focus will be directed towards the construction and public works (BTP) sector, where there have been frequent price fluctuations in cement.
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According to the Minister in charge of trade, this framework, which will be established through a ministerial decree, aims to foster ongoing and constructive dialogue between authorities and economic operators. It serves as a tool to assist them in their commitments to the nation’s economic development, ensuring better consumer protection.
This initiative continues the established framework for dialogue between the government and the private sector, designed to promote a more stable and predictable economic environment, as stated by the official.
