Investing in Togo
This small, sub-Saharan economy suffers from anemic economic growth and depends heavily on both commercial and subsistence agriculture, which provides employment for 65% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton generate about 40% of export earnings with cotton being the most important cash crop. Togo is the world's fourth-largest producer of phosphate. The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Togo is on track with its IMF Extended Credit Facility and reached a HIPC debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Economic growth prospects remain marginal due to declining cotton production and underinvestment in phosphate mining.
Banque Internationale Pour l'Afrique au Togo - http://www.biat.tg/
Ecobank - http://www.ecobank.com/
Republic of Togo (Lomé) - http://www.republicoftogo.com/
Countries that border Togo: Ghana | Burkina Faso | Benin
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