Becoming the 6th top performer in the world, first reformer in WAEMU and 2nd Top performer in Africa after Rwanda, Togo leaves the 156th place to rank 137th in the Doing Business 2019 report.
What are the reforms made by Togo?
In total, the reforms focused on six indicators between 2017 and 2018.
The business creation facility improved with among other things, the diminution of the minimum capital required; reduction of registration fees; introduction of online platform for the search of the company name.
The transfer of ownership process has also been improved. The time required for the procedure is considerably reduced by the digitization of the majority of land titles in Lome and the creation of an office exclusively dedicated to this procedure.
The country has also facilitated the execution of contracts by adopting a law that regulates aspects of mediation as an alternative dispute settlement mechanism.
Taxes payment becomes easier thanks to the operationalization of the tele-declaration especially the tax on the income of the companies and that of the value-added tax.
The cost of obtaining the building permit is also reduced and the processing of the file is more and more secure.
"This result is the fruit of a collective work from the Head of State to all the actors involved, but it is a stimulant to upgrade because the population expects more from us. We want to move to a two-digit world ranking," said Sandra Ablamba Johnson, Coordinator of the Climate Business Unit.
Among other challenges, strengthen reforms on business creation including the text on the implementation decree confirming the creation online.
The Single Window of Foreign Trade (SEGUCE) is also waiting for the application decree on electronic payment.
For Komi Selom Klassou, the Prime Minister, Togo is constantly proving to the world his desire to do better.
Compared with the MCC, Togo validated 14 criteria out of 20. According to Mo Ibrahim index, the country is one of the 15 reforming countries, especially in Africa.
Recently, the World Tourism Organization also ranked Togo 2nd in the world for its increase of 46.8%.