The Prime Minister, Victoire Tomégah-Dogbé, received, on March 13, 2023, at the Primature, the West Africa regional director of the International Finance Corporation (IFC) in French Société Financière Internationale (IFC) of the World Bank (BM), Mr. Olivier Buyoya. Discussions focused on the partnership between Togo and this institution, especially with regard to support for SMEs/SMIs.
On leaving the hearing, Mr. Olivier Buyoya explained that he had discussed with the head of government the activities of the International Finance Corporation (IFC) in Togo, its roadmap and above all its ambitions to support the government’s efforts and make of the private sector one of the engines of growth in Togo. The IFC, he said, today has diverse and varied activities and a pipeline of investments in various sectors of the economy such as agribusiness, digital or access to financing for SMEs. “And these are sectors that fit well with the strengths of the Togolese economy “, he underlined. The discussions, he confided, also focused on a point that is close to the heart of the Prime Minister, and which is the support of SMEs / SMIs in the various value chains. ” I did say support, not just access to financing. We have really covered the obstacles faced by SMEs/SMIs and one of these obstacles is access to financing, but there is also access to markets, access to knowledge and to the instruments that would allow them to developpp”. Mr. Buyoya said he informed the head of government of an initiative recently launched by the IFC called ” Support initiative for national champions » and which will allow us to have close support for companies held by local Togolese capital and thus enable them to develop. “The IFC today, beyond its traditional role of supporting investors of a certain size, is positioning itself to make special efforts to support the promoters of local projects in several sectors of activity. We discussed the approach and agreed to meet at the end of the year to take stock of some of the progress that has been made “, he confided. Mr. Buyoya took the opportunity to recall that his structure does not work with an envelope system, but rather seeks to support companies that are bankable today, or that can be bankable tomorrow and that we can support . Even more, the IFC emphasizes companies owned by women and detects those that have potential and thus provides them with the elements that will allow them to identify and exploit this potential. “Today, there is no limit envelope, but rather it is a question of working together with the government, the association of large Togolese companies, the various umbrella organizations to identify those who have potential, to support them , finance them in the service of the Togolese economy “, he said. Several factors favor Togo, he noted, in terms of investment and support for SMEs / SMIs. Indeed, it is one of the most stable countries in the region, with a strategic positioning favored by its modern airport structure, a very strong political will and a historical relationship of the country with the World Bank group.
Melissa BATABA
