Togo: Small and medium-sized enterprises SMEs, drivers of the economy and employment
In Togo, Small and Medium Enterprises (SMEs) play a pivotal role in the country’s economic development.
Representing over 90% of the economic fabric, these enterprises have been central to governmental strategy for decades.
They generate 60% of total employment and contribute 40% to the Gross Domestic Product (GDP).
On average, an SME in Togo creates three jobs, which is crucial in a country where unemployment, particularly among youth, is a major concern.
By providing employment opportunities, SMEs play a vital role in poverty reduction and promoting inclusive development.
The Togolese government has long recognized the importance of SMEs for the national economy.
Various programs and initiatives have been implemented to support these enterprises.
SMEs have a significant impact on local development, stimulating economies outside major urban centers and promoting more balanced and equitable growth.
By creating jobs locally, they help stabilize communities and prevent rural exodus.
Despite their importance, SMEs face several challenges, including limited access to finance, regulatory barriers, and a lack of managerial skills.
However, these challenges can be overcome through increased cooperation between the public and private sectors, as well as through innovative and tailored policies.
Chantal TAWELESSI
