Togo’s Anti-Corruption Laws and Regulations: A Step Closer to a Business-Friendly Environment
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In its relentless pursuit of a more business-friendly environment, Togo has made significant strides in recent years, according to the latest Doing Business ranking. The West African nation has jumped significantly on various indices, including Starting a Business, Enforcing Contracts, Trading Across Borders, Construction Permit, Getting Electricity, Registering Property, Public Procurement, and Paying Taxes and Duties.
A Focus on Reforms
Togo’s reforms have enabled the country to climb to the 15th position globally in terms of starting a business, making it Africa’s top performer in this area. The country has introduced special chambers of commerce for small debts, creation of commercial courts, and digitization of processes to facilitate business setup.
Enforcing Contracts
Togo’s Enforcing Contracts indicator has shown a significant improvement, thanks to reforms such as:
- Creation of specialized chambers of commerce
- Distinct clerks for civil and commercial cases
- Establishment of commercial courts in Lomé and Kara
- A maximum period of 100 days to settle commercial disputes
Trading Across Borders
Togo’s efforts to digitize and reduce delays in import and export procedures have yielded impressive results, with the country climbing up the ranks on this indicator.
Construction Permit
With its recent reforms, Togo aims to maintain its upward trajectory in the construction permit index. The country has introduced measures to streamline processes and improve transparency.
Getting Electricity
Over the past two years, Togo’s ranking under the Getting Electricity and Water indicator has consistently improved due to various reforms aimed at making it easier for businesses to access power and water.
Registering Property
Togo has made significant strides in this area, with its ranking improving by leaps and bounds. The country is now seeking to surpass Rwanda as the top performer on this index in Africa.
Public Procurement
Togo’s public procurement framework is being modernized through:
- Professionalization
- Digitization
- Legislative regulations
Reforms have been implemented to benefit the private sector, which is a key focus of the National Development Plan.
Paying Taxes and Duties
To improve its business environment, Togo has introduced reforms related to tax payment and duties. The country has:
- Replaced some taxes
- Canceled others through exemptions
- Relied on digitization to achieve its objective of offering an attractive tax framework for investors and economic operators.
Conclusion
These anti-corruption laws and regulations are expected to further boost investor confidence in Togo’s business environment, paving the way for sustainable growth and development.