Fintech: EziPay lands in Togo, making it easier to transfer money to neighboring countries
REFORM OVERVIEW
START A BUSINESS (more information)
In the fifteenth position, worldwide, and first in Africa, below To start a business index of the Doing Business ranking for 2020, Togo maintains its reformative dynamics with several reforms….
ENFORCEMENT OF CONTRACTS (more information)
Compared to a few years ago when it was one of the lowest ranked under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve the business climate, was able to jump significantly on the index in recent years… .
CONTRACT PERFORMANCE (more information)
Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases are now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was set to settle a commercial dispute.
TRADE ACROSS BORDERS (more information)
Compared to previous years,Togo has significantly improved its ranking below“Trade across borders” indicator by adopting several reforms that mainly focus on digitization and reduction of delays, for import and export procedures related to imports and exports.
Compared to previous yearsTogo has significantly improved its ranking on “Trade across borders” index by adopting several reforms that mainly focus on digitization and reduction of delays, for import and export procedures related to imports and exports.
BUILDING PERMIT (more information)
Having moved from 133rd to 127th in the 2020 Doing Business Building Permits Index, Togo aims to repeat this feat in the upcoming edition of the global ranking. To this end, it has introduced several reforms this year.
GET ELECTRICITY (more information)
Over the past two years, Togo’s ranking under Doing Business’ Get Electricity and Water indicator has risen consistently. Due to this performance of several reforms aimed at making it easier for businesses to access electricity and water, Lomé plans to introduce even more reforms this year to maintain the improvements.
REGISTER A PROPERTY (more information)
Of all the “Doing Business” indicators, property registration is where Togo has improved the most since 2018. In fact, after spending years in the lowest part of this ranking, the country is now trying to beat Rwanda, which is the best performer on this index in Africa. To do so, Lomé has introduced many reforms, with the latest batch implemented this year.
PUBLIC PROCUREMENT (more information)
From professionalization to digitization, through legislation, Togo’s public procurement framework is continuously being modernized. Several reforms have been carried out to improve the sector greatly to the benefit of the private sector, which is the focus of the national development plan.
PAYMENT OF TAXES AND CUSTOMS (more information)
To improve the business environment, Togo introduced some important reforms related to the payment of taxes and fees. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one goal: to offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities invested in digitalisation.
