Over two months, Togo’s government has launched no less than ten reforms to facilitate business creation by youth and women in the country. These reforms include: removal of registration fees and stamps duties, liberalization of social capital, exemption of business tax for young entrepreneurs, reduction of legal ads costs to CFA1,000 from CFA5,000, tax incentives etc.

Also, 20% of public procurements will be set aside for young firms that will freely trained on tendering procedures.

Steering these reforms is the business climate cell (CCA) which was officially launched last week. According to Sandra Johnson, national coordinator of the cell, the CCA is “a strategic instrument, placed under the authority of the President of the Republic, with the mission to coordinate ministries’ efforts.”

“The primary objective of this array of measures is to encourage young companies to get formalized to benefit from facilities offered, especially financing mechanisms set by Sate jointly with financial institutions,” she said.

Read here full interview with Sandra Johnson. 

The Council of Minister of the week of last Jan. 22, adopted, for this same purpose, a draft law on the new tax code. Falling under the latter is a gradual reduction of corporate tax to 25%, and suppression of many other taxes.

Still to contribute to this development, the economic news website Togo First was launched by Ecofin Agency with CCA as sponsor.