Economy: Entrepreneurial growth in Togo spurred by President Faure Gnassingbé’s reforms
The Togolese economy continues to show signs of dynamism thanks to the ambitious reforms led by President Faure Gnassingbé and his government. In 2024, 14,919 new businesses were created, according to data from the Center for Business Formalities (CFE). Although this figure marks a slight decline (-13%) compared to 2023, a record year with 15.654 new businesses, it still reflects sustained entrepreneurial vitality, with over 10.000 new businesses registered for the sixth consecutive year.
Togolese citizens are the primary drivers of this momentum, accounting for 83% of the newly created businesses. The government has also been successful in encouraging female entrepreneurship, with a remarkable 3.5% increase in the number of companies founded by women, reaching 4,450 in 2024. This performance illustrates the positive effects of initiatives aimed at simplifying administrative procedures and fostering a business climate that is attractive to all.
These results confirm that the reforms are not limited to administrative changes but are fostering true economic inclusion. By enabling an increasing number of actors, including women and youth, to access entrepreneurship, Togo is positioning itself as a model of inclusive growth in West Africa.
