Lomé recently hosted a pivotal meeting between Faure Gnassingbé, President of the Council of Togo, and Dr. George Elombi, Chairman of the Board of Directors at Afreximbank. The high-level discussions centered on deepening economic ties between Togo and the pan-African financial institution, with a sharp focus on unlocking investment potential across key industries.
Driving local transformation through strategic sectors
The two leaders examined concrete pathways to accelerate Togo’s industrial transformation, particularly in sectors where the country holds a competitive edge. Among the priorities discussed were the phosphate industry, energy production for industrial zones, and strategies to enhance the value of Africa’s raw materials. These initiatives align with Togo’s broader ambition to position itself as a hub for value-added manufacturing on the continent.
Dr. George Elombi underscored the importance of these exchanges, stating, « Our conversation revolved around wealth creation through the processing of Togo’s natural resources. Phosphate, energy for industrial clusters, and other avenues for transforming African commodities were at the heart of our dialogue. »
African development bank commits to long-term partnership
Afreximbank’s leadership reaffirmed its dedication to supporting Togo’s industrial ambitions by facilitating access to financing and technical expertise. The bank’s role extends beyond mere funding—it aims to act as a catalyst for sustainable economic growth by fostering collaboration between local enterprises and international investors.
A forum that highlights Togo’s economic momentum
The meeting took place during 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 has become a key platform for African policymakers and business leaders to explore trade and investment opportunities, reinforcing Togo’s appeal as a destination for foreign direct investment.
The timing of Dr. Elombi’s visit sends a clear message: Togo is open for business. By prioritizing industrialization and regional economic integration, the country is carving out a strategic role in Africa’s economic future. The discussions in Lomé are not just about short-term gains—they reflect a long-term vision to build a diversified, resilient economy driven by homegrown innovation and collaboration.
