‘Development, multilateralism, youth employment and renewable energy’: What next for Togo?
Togo’s President, His Excellency Faure Gnassingbé, has been in the United Arab Emirates this week meeting with Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi, to discuss future cooperation between their two nations.
After the official launch of Togo’s National Development Plan 2018-2022 (PND 2018-2022), the President has been quick to publicly begin securing funds for his Government’s ambitious development projects.
The PND 2018-2022 aims to achieve ‘a structural transformation of the economy, for robust, sustainable, resilient, and inclusive growth that generates decent jobs for all and fosters social well-being’. Such an ambitious vision calls for equally ambitious targets: GDP growth of 7.6%, 500,000 new jobs and close to $8 billion of funding.
According to the Government’s plan, two thirds of this budget (over $5 billion) will need to come from the private sector. Among the projects open for PPPs are the construction of a modern conference centre, an agri-food processing project and rural electrification.
Facing political tension at home, the President is keen to place young people and entrepreneurship at the heart of a unifying vision for Togo. The $15 million secured this week from the Khalifa Fund for Togolese SMEs is a start, but much more will be needed if the Government’s ambitious social and economic development projects are to become a reality.
Invest Africa are delighted to be welcoming H.E Faure Gnassingbé to give our keynote address at The Annual Debate on 5 June 2019 in London. We are looking forward to hearing from His Excellency on the subject of Togo’s National Development Plan 2018-2022 and the next exciting steps for the country.