Togo strengthens investment ties with Afreximbank through phosphate and energy projects

Lomé witnessed a pivotal meeting last week as President Faure Gnassingbé welcomed Dr. George Elombi, Chairman of Afreximbank, to discuss deepening economic collaboration between Togo and the pan-African financial institution. The high-level discussions centered on unlocking new investment avenues across critical sectors, with a particular focus on industrial transformation and sustainable resource utilization.

Phosphate and energy take center stage in industrialization drive

The two leaders examined strategies to accelerate Togo’s industrial growth, highlighting the country’s phosphate reserves as a key economic driver. Conversations also explored ways to enhance energy production for industrial zones, ensuring reliable power supply for expanding manufacturing hubs. Dr. Elombi emphasized the importance of value addition in local raw materials, noting that African economies must move beyond mere extraction to sustainable wealth creation.

« Our dialogue focused on transforming Togo’s natural resources into higher-value products. Phosphate processing, energy self-sufficiency for industrial parks, and regional cooperation in raw material enhancement were among the priority topics,» Dr. Elombi stated during the meeting.

Togo’s growing appeal to international investors

The timing of Dr. Elombi’s visit coincided with the third edition of the Biashara Afrika business forum, co-organized by the Togolese government and the African Continental Free Trade Area (AfCFTA). This gathering underscored Togo’s rising profile as a prime destination for foreign capital and technical partnerships, particularly in sectors where local processing can create jobs and boost GDP growth.

Togolese authorities have made industrial transformation a cornerstone of their economic strategy, positioning the country as a gateway for investors seeking to capitalize on Africa’s vast natural resources. The government’s proactive policies aim to attract funding and expertise to develop downstream industries, thereby reducing reliance on raw material exports and fostering a more diversified economy.

Afreximbank’s renewed commitment to supporting Togo’s industrial ambitions was a highlight of the discussions. Dr. Elombi reiterated the bank’s readiness to mobilize financial resources and technical know-how to back high-impact projects that align with the country’s development goals.

Regional integration and AfCFTA’s role in economic growth

The Biashara Afrika forum served as a platform for stakeholders to explore cross-border trade opportunities and leverage the AfCFTA framework. With Togo’s strategic location and improving infrastructure, the country is increasingly seen as a hub for regional value chains, particularly in mining, agro-processing, and renewable energy.

For Togo, the partnership with Afreximbank represents more than just financial backing—it’s a strategic alliance to drive inclusive economic growth. By prioritizing local value addition and industrialization, the country aims to create sustainable livelihoods while contributing to Africa’s broader economic integration.