• Togolese banks granted CFA903 billion in new loans by end-September 2025, up 22% year on year.

• The National Credit Council cited sustained confidence in the economy despite global uncertainty.

• Average lending rates stood at about 7.5%, close to the regional average.

In Togo, banks granted CFA903 billion in new loans by the end of September 2025, according to the National Credit Council (CNC), which met late last week in Lomé. This volume marked a 22% increase compared with lending over the same period in 2024, when banks disbursed about CFA740 billion.

According to the council, chaired by Finance and Budget Minister Essowè Georges Barcola, the increase in bank financing of the economy reflects what authorities view as an encouraging momentum. The council said the trend also showed that financial institutions maintained confidence in the national economy amid solid growth, even as international conditions remained uncertain.

Meanwhile, lending rates charged by Togolese banks remained relatively moderate. In September, banks set average lending rates at about 7.5%, a level close to the sub-regional average.

Despite these performances, the CNC said the banking sector still faced several major challenges. The council highlighted the need to develop innovative financial products and instruments to mobilize diaspora savings, increase financing for micro, small, and medium-sized enterprises, housing, and agriculture, improve the quality of financial services, and continue the digitalization of services while ensuring information system security.

Against this backdrop, the CNC said it expected concrete proposals from leaders of the Professional Association of Banks and Financial Institutions of Togo (APBEF-Togo) and the Professional Association of Decentralized Financial Systems of Togo (APSFD-Togo). The council said these proposals should address the identified challenges and help strengthen financing for the Togolese economy on a sustainable basis.

This article was initially published in French by Esaïe Edoh

Adapted in English by Ange Jason Quenum