Togo's private sector calls for reforms

Representatives from Togo's private sector are advocating for reforms to support business production and growth. They gathered on October 22 at the Hotel 2 Février in Lomé for the third edition of the Universities organized by the Association of Major Togolese Enterprises (AGET).

Focus on competitiveness and national champions

The event centered on competitiveness, with the theme "The time of boldness, building national champions, a strategic choice for Togo" guiding the discussions. AGET president Charles Gaffan stressed the need to move from intentions to actions, arguing that the future is built through action, not passivity or good intentions.

Government approach to taxation and investment

Akou Mawussé Adetou-Afidenyigba, director of the cabinet of the Ministry of Finance and Budget, outlined the government's approach to expanding the tax base in a fair and effective manner. She supported a digital and incentive-based tax system that benefits all citizens.

Energy and investment priorities highlighted

Jonas Daou, director of Zener, an energy company, emphasized that economic growth must be accompanied by investments and companies capable of scaling up. He called for a tax agreement that favors productive investment, particularly through simplified rules and targeted incentives.

Three key areas for discussion

The panels of the Universities were structured around three main topics: energy sovereignty, alternative financing to bank credit, and the decentralization of industrial activity. The discussions highlighted the importance of controlling energy costs and developing risk capital and regional markets.

Economic impact of AGET members

According to recent estimates, AGET members generate more than 1700 billion CFA francs in annual turnover, contribute 150 billion CFA francs to the state budget, and employ over 15,000 people. In 2023, the International Finance Corporation and AGET announced a partnership to help small and medium-sized enterprises access financing, markets, and skills.