The Togolese telecoms market has long suffered from underdevelopment and insufficient funding that has thwarted any significant modernisation. In 2017, the Togolese government decided on the establishment of TOGOCOM, a structure that will include the company TOGO TELECOM Search TOGO TELECOM and the mobile operator Togo Cellular. According to the government, the project to reorganize the TOGO TELECOM aimed at improving the quality of customer services; the extension of the broadband internet coverage to the entire population and a significant drop in prices.
A subsidiary was also created in order to promote long-term investments as well as the construction and operation of fixed and mobile infrastructures. This company was temporarily called “Togo ServiceCom” and offered convergent and innovative offers.
Togo has enjoyed a period of steady economic growth fueled by political stability and a concerted effort by the government to modernize the country’s commercial infrastructure, but discontent with President Faure GNASSINGBE has led to a rapid rise in protests, creating downside risks. The country completed an ambitious large-scale infrastructure improvement program, including new principal roads, a new airport terminal, and a new sea-port. The economy depends heavily on both commercial and subsistence agriculture, which provides employment for around 60% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton and other agricultural products generate about 20% of export earnings with cotton being the most important cash crop. Togo is among the world’s largest producers of phosphate and seeks to develop its carbonate phosphate reserves, which provide more than 20% of export earnings.
The government’s decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Togo’s 2017 economic growth probably remained steady at 5.0%, largely driven by infusions of foreign aid, infrastructure investment in the port and mineral sectors, and improvements in the business climate. Foreign direct investment inflows have slowed in recent years.