Togo appoints Ekoué Djro Glokpor as new BCEAO national director

During its second ordinary session of 2026, the National Credit Council (CNC) of Togo officially installed Ekoué Djro Glokpor as the new National Director of the Banque Centrale des États de l’Afrique de l’Ouest (BCEAO). The ceremony, held on June 18 in Lomé, unfolded against a backdrop of mixed financial signals: booming digital banking adoption, declining business loans, and a heavy concentration of credit toward large corporations.

Glokpor takes over from Akuwa Dogbe Azoma, following a distinguished career at the BCEAO’s Dakar headquarters. There, he held key leadership roles, including Director of Accounting, Director General of Organization and Information Systems, and Advisor to the Governor. The appointment was welcomed by Badanam Patoki, Togo’s Minister of Economy and Strategic Monitoring, who chaired the council session in place of the Finance Minister, Essowè Georges Barcola.

« This responsibility is both an honor and a commitment I fully embrace, » Glokpor stated. « I am fully aware of the challenges ahead. »

Persistent imbalances in credit allocation

The meeting reviewed economic and monetary conditions as of March 2026, revealing a mixed landscape. While digital banking usage rose to 32.2%, average lending rates eased to 7.5%, and bank and microfinance savings grew, business credit declined by 15%. Lenders shifted focus toward regional financial markets, while microfinance institutions expanded their portfolios by 30%.

Credit distribution remains skewed: 70% of new financing flows to a handful of large enterprises. Agriculture received only 1.5% of bank loans, and housing 1.1%, according to Patoki. He urged banks to utilize risk-sharing tools such as the Mécanisme incitatif de financement agricole (MIFA), Fonds africain de garantie et de coopération économique (FAGACE), and Fonds de solidarité africain (FSA).

The gross non-performing loan ratio stood at 13.4%—well above the 5% target set for 2027. The CNC called on banks to strengthen recovery strategies.

Boosting digital payment adoption

The council also approved an action plan to accelerate digital payment adoption across Togo. Implementation timelines and funding allocations were not disclosed.

As National Director of the BCEAO, Glokpor will serve as the central bank’s primary liaison with Togo’s public authorities, the Ministry of Economy and Finance, and commercial banks operating in the country. The West African Economic and Monetary Union (UEMOA), to which Togo belongs, shares the CFA franc, issued by the BCEAO and managed from its Dakar headquarters.