Togolese Republic

Togo Economic Outlook

Real GDP growth declined to 5.5% in 2022 from 6.0% in 2021 due to the security crisis in the far north of the country and Russia’s invasion of Ukraine. Inflation rose from 4.6% in 2021 to 7.8% in 2022, driven by higher food and energy prices. The fiscal deficit widened from 4.7% of GDP in 2021 to 8.4% in 2022 due to purchasing power support measures (subsidies and tax exemptions for basic products) as well as additional security spending.

Key Facts

Flag:

Capital:

Lomé

Population 2023:

8.8 million

Date of membership:

3 July 1964

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Bank intervention strategy

Priority area 1 - Development of inclusive growth poles and social inclusion policies; and (ii) Strengthening of financial and sector governance.

In Priority area 1, the Bank's support contributes to develop agricultural value chains (supported subsequently by growth-enhancing infrastructure investments) and strengthen socio-economic inclusion.
In Priority area 2, the Bank works to remove institutional barriers to growth by strengthening domestic resource mobilisation through land registry development and operationalisation of the Land Tenure Code

Togo, Support Project for Youth Employability and Integration in Growth Sectors (PAEIJ-SP)

Togo : Support of the Social Component Rural Electrification Programme Cizo (PRAVOST)

Sani Yaya, Togolese Minister of Finance on the need for appropriate climate policies for development in Africa

Landlocked traders and shoppers find new riches, thanks to improved Lomé-Ouagadougou road

Truck drivers notice drastic improvements to Lome-Ouagadougou corridor

Lome - Cinkanse - Ouagadougou CU9 Corridor

News and Events

Adjoa Agbomassi, vegetable seller and PAIFFV beneficiary

16-May-2024

Charting Economic Progress: African Development Bank’s initiatives spur structural transformation and job opportunities in Togo

(L-R) Dr. Fatih Birol, Executive Director, International Energy Agency; Sierra Leone President Julius Maada Bio; United Republic of Tanzania President Dr. Samia Suluhu Hassan; Togolese Republic President Faure Gnassingbé; Norway Prime Minister Jonas Gahr Støre; Executive Vice President of European Green Deal, Interinstitutional Relations and Foresight Maroš Šefčovič; African Development Bank Group President Dr. Akinwumi A. Adesina

15-May-2024

African Development Bank commits $2 billion as it leads the way at landmark summit for access to clean cooking in Africa

(left to right): Bendjin Kpeglo, Managing Director of AGF West Africa; Wilfried Abiola, the African Development Bank’s Country Manager for Togo; Akuwa Dogbé Azoma, National Director for Togo at the Central Bank of West African States (BCEAO); Koffi Gani, Principal Private Secretary for the Togolese Minister for Social Action, the Advancement of Women and Literacy; Melissa Basque-Roux, Acting Coordinator of the AFAWA initiative; Jules Ngakam, CEO of the AGF Group.

08-Apr-2024

AFAWA Finance Series Togo: African Development Bank and African Guarantee Fund unite to strengthen female entrepreneurs' access to finance

Adjoa Agbomassi, in front of her fresh produce in Aného.

12-Mar-2024

Empowering vulnerable women: African Development Bank financing bolsters economic inclusion in Togo

A Truck desludging at the faecal sludge treatment plant, San Pedro, Cote d’Ivoire

01-Mar-2024

Bill & Melinda Gates Foundation commits $6 million to the African Water Facility for Africa Urban Sanitation Investment Initiative

From left, AUC Acting Director for Diaspora Affairs Ms. Betty Mupenda Wangozi, AfDB lead program coordinator Abibu Tamu and IOM Ethiopia’s Director for the Special Liaison Office Mariama Mohamed Cisse at the Addis Ababa signing ceremony for a $3.9 million grant to tap the African diaspora’s skills and capital.

02-Dec-2023