Research and consulting in Togo
IOA has conducted research and consulting on a wide range of topics regarding the West African nation Togo. Economic growth of nearly 5% in 2021 is evidence, according to IOA economists, of solid economic fundamentals that include continuing foreign investment, consumer spending, as well as manufacturing and mineral extraction that provide export revenue. As one of the world’s largest phosphate producers, Togo’s mining sector is balanced by agricultural product processing, cement-making and indigenous handicraft that is cherished by global buyers.
Although the energy-challenged country imports all its fuel, it puts this to good use, and refined petroleum products are Togo’s top export. Agricultural exports are diverse: cassava, cocoa, coffee, corn, cotton and yams. As a regional transportation hub, Togo also attracts money launderers and drug traffickers, creating one of the country’s few security concerns.
Key opportunities in Togo:
- The mining industry is sustained by phosphate extraction and some other minerals
- Agricultural products are key exports, and Lomé hosts a major regional port
- A diverse economy is buttressed by economic freedom, which is higher than most African countries
Key concerns/risks in Togo:
- A geographic imbalance is caused by development centred on the south, with the north relatively neglected
- Petty crime often directed at foreigners has impeded tourism sector development
- Deforestation is the top environmental crisis as indigenous forests have all but disappeared from slash-and-burn agriculture and wood burned for domestic purposes