Togo: Reforms by President Faure Gnassingbé propel the Togolese economy to 6.5% growth in 2024
Togo’s economy is demonstrating remarkable resilience, driven by ambitious reforms spearheaded by President Faure Gnassingbé. After robust growth of 6.2% in 2023, the country’s real GDP expanded by 6.5% in 2024, according to data from the National Statistics Committee. Togo also crossed a symbolic threshold with nominal GDP surpassing 6,000 billion CFA francs for the first time, reaching 6,458 billion. These achievements place Lomé among the top performers of the WAEMU, where average growth stood at 5.5%.
This momentum is largely attributed to an exceptional final quarter in 2024, which recorded a 17.7% increase compared to the previous year. This rebound offset a more difficult start to the year and ensured a solid trajectory for the overall period. Major projects under the 2020–2025 roadmap, notably the Adétikopé Industrial Platform, played a key role in this success by boosting local processing and job creation.
Through this flagship initiative, planned agricultural zones helped increase crop yields, while Lomé Port consolidated its position as a regional logistics hub. The digitalization of administrative and customs services streamlined trade and enhanced the country’s competitiveness. The construction sector emerged as a true engine of growth, recording a 44.7% increase and contributing 1.5 percentage points to GDP growth on its own.
With inflation contained at 2.3%, purchasing power has been preserved, supporting domestic consumption. While some sectors, such as timber and electricity, still face challenges, others, including metallurgy and extractive industries, are performing strongly. Building on these results, the government now aims to transform this sustained growth into inclusive and sustainable development for all Togolese citizens.
