Faure Gnassingbe, president of Republic of Togo (picture presudence Togo)

Togo is facing the weight of the debt as a result of major infrastructure projects and various sectors that have engulfed billions of CFA And it is time to pay the bill to the financial partners and donors.

President Faure Gnassingbe is well aware of this and expressed it Thursday in Lome, during a ceremony dedicated to the efforts devoted in Doing business.

"I have received letters from consumer associations saying that Mr. President, you have said social mandate but you have increased such price or other price. Social mandate yes, but if you manage badly, you cannot do the social because today, the highest position in the budget is the repayment of debt", shows the head of the state.

"I would have preferred education, agriculture or health, but the reality is that I want to repay my debts," he says, adding that "if there is lax in management, we cannot finance the social".

Good management of resources, an imperative!

To reduce the high level of poverty in Africa and Togo in particular, he believes that the foundations for sound resource management must be laid. An approach in which the country is committed through economic and financial reforms.

"It's always painful because the reforms always have a price, someone somewhere is always wronged when we make the reforms, but at the end, it's our country that wins and the wealth is shared", he demonstrates.

Local private sector to take ownership

Beyond the celebration of performance in Doing Business, the challenge remains to maintain the course and the capitalization of achievements. Obviously, Togo with a jump of 40 places, recognized as the first reforming country in Africa, will have to focus on exposing its comparative advantage to attract more investors.

In this case, the National Development Plan (PND) valued at 4622 billion CFA with his share reserved for the private sector (65%) requires more attention to be given to businessmen. The local private sector has a big role to play as it is primarily the first beneficiary of the benefits of the gains.

"At home, we used to say that if the dough served by your mother is not enough, the one that your stepmother will offer you will not suffice either, so if the togolese private sector itself does not find that we are more attractive, how would you like the one who comes from abroad to judge that Togo is a land of investment?", wandered Mr. Faure Gnassingbe.

He cited the open dialogue with the private sector; exchanges with notaries; the architects ; administration, which has resulted in consensus on the essentials, confidence-building and the country's progress.

"Beyond everything, we need to know that we are competing with other countries, what we have achieved today, if we don't stay the course, tomorrow we can go back and if we go back, I believe that the impact will be even more negative", said Gnassingbe with all his might.

Door open to foreign investors!

Alone, the local private sector could not finance development and create jobs, but foreign investors including Asians who are now ready to come and invest in Togo.

"We are lucky to attract investors into our country, it is not the state that creates the jobs, but the private sector through its investments that generates jobs.Our capacity is limited. All we can do, it is to create an environment conducive to business", frowned the President of the Republic.

The roadmap for allowing private investment remains the National Development Plan (NDP). According to the head of state, the option is justified by prudential measures to prevent the country from relapsing into a new debt but to offer all investors the necessary attraction to finance this ambitious plan.

"Official development assistance is becoming increasingly scarce so the only possibility we had was to go to the national private sector first and then abroad," he said

2020 and the assurance of the continuation of reforms

Togo will experience presidential elections next year and, as in many African countries, this is a period of great uncertainty, which could put a strain on the progress made over the last two years.

"It's true, when we say election period in Africa, there are always uncertainties but we hope that the elections will be held early and the rest of the year, we can devote ourselves more to what we wanted growth, development and prosperity for our country, and I don't want to be ashamed next year", added him.

In the hope that the lead will be taken on the reforms in 2020, he believes that Togo will not regress!

 

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