Have you ever wondered what are the top companies in Togo, a small West African country with a population of about 6.7 million? What are the sectors that drive the economy of this nation, which is ranked among the lowest in the Human Development Index?
How do these companies cope with the challenges of political instability, poverty, and environmental degradation? In this article, we will explore the top companies in Togo for 2023, based on their revenues, market share, social impact, and innovation.
You will also get to know the most common job in Togo? Whether you are an investor, a researcher, a customer, or a curious reader, you will find something interesting and useful in this article.
Top companies in Togo 2023
Some of the notable companies and startups in Togo are:
1. Bethel Kebab:
This company specializes in producing and selling vegetable meat, offering the taste and texture of beef in various forms such as skewers and fresh meat. Their products cater to individuals with cardiovascular diseases, diabetics, the elderly, vegetarians, vegans, and health-conscious consumers.
2. Bagoubadi Gnansa:
An agro-pastoral center that focuses on breeding chickens, guinea fowls, sheep, goats, and beef on the animal side. On the agricultural side, they grow crops like manioc, pineapple, corn, and oil palm.
Delivroum operates as an on-demand delivery platform, connecting food and non-food merchants with customers in Lomé and its surrounding areas. They also have plans to establish digital kitchens for in-house food production.
Specializing in the multiplication and packaging of local organic seeds, TROPI-TECHNO is dedicated to promoting agricultural equipment and technologies. They offer support, advice, training in organic production, and certification.
This fintech company provides mobile payment solutions for both merchants and customers. Additionally, they offer financial inclusion services to the unbanked population.
These are just a few examples of the prominent companies and startups making an impact in Togo in 2023.
What is the most common job in Togo?
The most common job in Togo is agriculture, which employs most of the nation’s population. However, many people still live below the poverty line and face challenges such as food insecurity and environmental degradation.
Some of the other major sectors in Togo are cotton, phosphate, coffee, and cocoa production, which are the main exports of the country. Togo also has reserves of marble and limestone, which are mined for various purposes.
The best paying jobs in Togo are mostly related to finance, investment, risk management, and economics. These jobs require high levels of education, skills, and experience, and are usually found in the capital city of Lomé or other urban areas.
Is Togo a good place for business?
Togo’s business environment is a mix of opportunities and challenges. It’s a small West African nation with a diverse economy, a growing population of around 8.49 million, and valuable natural resources like phosphates, cotton, coffee, cocoa, marble, and limestone. Togo’s efforts in economic reform and infrastructure development have attracted foreign investment and trade due to its strategic location on the Atlantic Ocean.
However, it faces significant hurdles. Togo ranks among the world’s poorest countries with a GDP per capita of USD 2,260 and high poverty rates. Income inequality, gender disparities, food insecurity, and environmental issues persist. The country also scores low on ease of doing business and corruption perceptions indices, highlighting regulatory complexity and corruption risks. Political stability is a concern due to long-standing ruling party dominance and periodic protests.
Entering Togo’s market can be both promising and complex. Thorough market research, cultural understanding, and professional advice are crucial for success
List of successful companies in Togo
Here are some sectors where you might find successful companies in Togo:
- Agriculture and Agribusiness: Togo’s economy relies heavily on agriculture. Successful companies may be involved in crop cultivation, livestock farming, or agro-processing.
- Banking and Finance: The financial sector in Togo includes established banks, microfinance institutions, and insurance companies.
- Telecommunications: Telecom companies play a crucial role in providing connectivity and mobile services to the population.
- Manufacturing: Manufacturing companies may produce a wide range of products, including textiles, food and beverages, and consumer goods.
- Mining and Natural Resources: Togo has mineral resources, and companies engaged in mining and resource exploration can be successful in this sector.
- Retail and Trade: Retail businesses, including supermarkets and local markets, contribute significantly to the economy.
- Transport and Logistics: Companies involved in transportation, shipping, and logistics are vital for both domestic and international trade.
- Technology and Startups: The technology and startup ecosystem is growing in Togo, with companies focusing on various tech-related services.
- Construction and Real Estate: With urbanization and infrastructure development, construction and real estate companies can thrive.
- Energy: Companies involved in renewable energy projects or traditional energy production may find success
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Businesses making waves in Togo this year
Togo was unable to replicate the strong economic growth of 2019 due to the COVID-19 pandemic, but it continued to pursue reforms aimed at encouraging economic development and a better business environment. Some of the businesses that are making waves in Togo this year are:
The banking conglomerate that operates in 36 African countries and has over 11 million customers. Ecobank launched a digital bank in January 2021, which offers mobile banking services, e-wallets, and QR codes for payments.
2. ASKY Airlines:
The consumer airline that serves 23 destinations in West and Central Africa with a fleet of 8 aircraft. ASKY Airlines resumed its flights in July 2020 after a four-month suspension due to the pandemic, and it has implemented strict health and safety measures for its passengers and crew.
3. Atlantic Bank Group:
The financial services holding group that offers banking, insurance, and microfinance products in 12 African countries . Atlantic Bank Group partnered with Mastercard in February 2021 to launch a new digital payment solution that enables customers to make contactless transactions using their smartphones.
4. Communauté Électrique du Bénin:
The utility company that provides electricity to Togo and Benin, with a total installed capacity of 228 MW. Communauté Électrique du Bénin received a $60 million loan from the African Development Bank in March 2021 to improve its power supply and distribution network, and to increase its renewable energy sources.
These are some examples of the businesses that are contributing to Togo’s economic recovery and growth.
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