Business Ready 2024: Togo takes first place in West Africa

Togo has been ranked first in West Africa in the World Bank's Business Ready report, which assesses performance in terms of business and investment climate.According to the World Bank, Business Ready now replaces Doing Business and offers a more transparent and balanced approach to assessing the business and investment climate.This mechanism assesses the economic environment of companies and is structured around three pillars, namely the regulatory framework, public services and operational efficiency.More specifically, the *Business Ready* assessment covers ten key indicators related to the business life cycle, namely: business creation, business location, public utilities, workforce, financial services, international trade, taxation, dispute resolution, market competition and business insolvency. For these "remarkable performances", Togo ranked first in West Africa and third in sub-Saharan Africa.Lomé has particularly distinguished itself on issues relating to economic governance, notably in the *Do ing Business* reports, the Country Policy and Institutional Assessment for Africa (CPIA), and the *Women, Business and the Law* report.At the level of the 'regulatory framework' pillar, Togo stands out by occupying 2nd place out of 14 countries, behind Rwanda.According to ATOP, these "brilliant results" reflect the effectiveness of the reforms carried out in recent years by President Faure Essozimna Gnassingbé and his government.The executive remains resolutely committed to maintaining the course of reforms to ensure the attractiveness of the economy and fully unleash the potential of the private sector in Togo, the same source continued.Source: Burkina Information Agency

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