ABOUT TOGO

Amongst all the countries in the African continent, Togo, officially the Togolese Republic, is a West African nation renowned for its palm-lined beaches and hilly interior. It’s one of Africa’s smaller countries by area. The capital of Togo is Lomé, which is its largest and most populated city, serving as a vital port and commercial hub. According to the report of the World Bank, Togo is classified as a Low-Income Nation, actively pursuing economic reforms to accelerate growth and reduce poverty. The currency of Togo is the West African CFA franc (XOF), and the value of 1 Indian Rupee is approximately 0.138 XOF (or 1 XOF is approximately 7.25 INR) as of today’s exchange rates (June 2025). The population of Togo is estimated to be around 9.5 million in 2024. Its neighbouring countries are Ghana to the west, Burkina Faso to the north, and Benin to the east, with a short coastline on the Gulf of Guinea to the south. The official language of the country is French, and various indigenous languages like Ewe and Kabiye are widely spoken. The majority of the Togolese population practices Christianity and Islam, with traditional African beliefs also prevalent. Currently, Togo has one major international airport, Lomé–Tokoin International Airport (Gnassingbé Eyadéma International Airport – LFW), which offers convenient air connectivity to various parts of the world. As Togo borders the Gulf of Guinea, it has a significant commercial seaport in Lomé, which is a strategically important deep-water port serving as a crucial transit hub for trade for Togo and its landlocked neighbours.

The corporate income tax rate in Togo is generally 29% for most companies. Small and medium-sized enterprises (SMEs) with lower turnovers might benefit from specific tax regimes or simplified taxation. Opesh Group of companies will be helping you in completing the Due Diligence process which includes financial planning, registration process, business options, and if required, even helping you find a rental property for your office.

Establishing a business in Togo has to be done with utmost care, keeping in mind the laws of the country. As a member of OHADA (Organization for the Harmonization of Business Law in Africa), Togo adheres to a harmonized legal framework for business activities, which simplifies the process for foreign investors. A foreign investor who is planning to start his business in Togo can form many different company types in the country, such as a Limited Liability Company (SARL), Public Limited Company (SA), or a Branch Office. A Limited Liability Company (SARL) formed and registered in Togo generally allows foreign investors to own 100% of the company.

In case an investor is planning to establish an SARL in Togo or a corporation business setup, Opesh Group will be helping you in taking the right decision for setting up your business in Togo and we will also guide you about how to follow the procedure while formulating your company in Togo.

Types of Business which can be started in Togo:

• Logistics & Trade (Port of Lomé): The Port of Lomé is a deep-water port and a major regional hub. Opportunities are vast in port management, cargo handling, warehousing, shipping services, transit logistics for landlocked countries, and multimodal transport.
• Agriculture & Agro-processing: Agriculture is a key sector. Opportunities exist in cultivating cash crops (cocoa, coffee, cotton), food crops (maize, cassava, rice), improving farming techniques, and importantly, agro-processing to add value for local consumption and export.
• Mining: Togo is a significant producer of phosphates, a key mineral for fertilizers. Opportunities exist in phosphate mining, processing, and potentially in other minerals like limestone, marble, and iron ore as exploration continues.
• Infrastructure & Construction: Driven by national development plans, there’s a continuous need for investment in roads, energy infrastructure, urban development, housing, and port expansion. This creates strong opportunities for construction and engineering firms.
• Energy (Renewables): With a growing energy demand and a focus on sustainability, Togo has potential for solar energy development, especially given its abundant sunshine. Opportunities exist in solar power projects and off-grid solutions.
• Telecommunications & Digital Services: A rapidly expanding sector with increasing internet and mobile penetration. Opportunities include expanding network infrastructure, digital payment solutions, e-commerce platforms, and IT services.
• Tourism: Togo offers cultural attractions, beautiful beaches, and national parks. While smaller than its neighbours, opportunities exist in developing boutique hotels, eco-tourism ventures, and cultural tours.
• Manufacturing: Opportunities are primarily in light industries focused on import substitution and processing local raw materials, such as textiles, food processing, and simple consumer goods for the domestic and regional markets.

Advantages of Starting Business in Togo:

• Strategic Port Location: The Port of Lomé is a key deep-water port in West Africa, providing direct access to the sea for landlocked neighbours and serving as a major regional trade hub.
• Political Stability: Togo has enjoyed relative political stability, providing a more predictable environment for investors compared to some other West African nations.
• Membership in OHADA: Adherence to OHADA business laws ensures a harmonized and reliable legal framework for commercial activities, simplifying cross-border business.
• Improving Business Climate: The government is actively implementing reforms to attract foreign direct investment and improve the ease of doing business.
• Access to Regional Markets: As a member of ECOWAS and UEMOA, Togo provides access to a large regional market with a combined population of over 300 million people.
• Focus on Logistics & Trade: The national development plan prioritizes making Togo a logistics and services hub, creating a supportive environment for related businesses.

Business Opportunities for Indians in Togo:

There are excellent business opportunities in Togo for new investors who are planning to start their business abroad. Togo is actively seeking foreign investment, particularly in sectors that leverage its strategic port and agricultural potential. Indian investors, with their strong expertise in manufacturing, agriculture, infrastructure, and pharmaceuticals, can find significant opportunities in agro-processing, port-related services, basic manufacturing, and trading. The growing bilateral trade between India and Togo further indicates a conducive environment.

Imports & Exports:

Many goods are imported and exported from Togo. Imports and exports business is an ever-growing business in any country; however, you need to do proper R&D before investing in that product which you can import or export. You need to check whether that product is suitable for your target market and how much revenue you will be able to generate from that market.

Major items which are exported from Togo to India:

• Phosphates
• Cotton
• Cocoa beans
• Coffee
• Some re-exports (e.g., machinery, vehicles)

Major items which are imported in Togo from India:

• Refined petroleum products
• Pharmaceutical products
• Rice and other food products
• Textiles
• Machinery and equipment
• Vehicles (especially two-wheelers and commercial vehicles)
• Iron and steel products

Manufacturing:

Opportunities in manufacturing are primarily in light industries, leveraging local raw materials. This includes agro-processing (e.g., cotton ginning, coffee processing), basic consumer goods for the domestic and regional markets, and possibly textiles.

Mining:

The mining sector in Togo is dominated by phosphates, for which Togo is a significant global producer. Opportunities exist in the extraction and processing of phosphates for fertilizers, as well as potential for other minerals like limestone and clinker for cement production.

Major Indian companies which are currently working in Togo:

While specific large Indian conglomerates might not have extensive manufacturing setups, Indian businesses have a presence, particularly in:

• Pharmaceuticals: Several Indian pharmaceutical companies are active in supplying medicines and healthcare products.

• Trade: Indian traders play a significant role in the import and distribution of various goods, including textiles, food items, and consumer electronics.

• Infrastructure/Construction: Indian companies have shown interest or participated in projects, especially those related to port development or road construction.

• Agro-processing: Some Indian investors are exploring opportunities in cotton or other agricultural value chains.

• GDP = $8.5 billion (2023 est.)

• GDP Growth = 6.4% (2023 est.)

• Ease of doing business rank = 97 (2020)

• GDP per Capita = $896 (2023 est.)

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