Germany has allocated €25 million towards extremism prevention in Togo, Benin, and Guinea-Bissau, underscoring its commitment to regional stability. Simultaneously, Togo has achieved remarkable improvements in its business climate, ranking first in Africa for starting a business and implementing diverse reforms across various economic indicators.
Germany has committed €25 million towards preventing extremism in Togo, Benin, and Guinea-Bissau. This allocation demonstrates Germany’s dedication to supporting stability and development in these nations, which face significant challenges related to radicalization and social unrest. By directing funds to initiatives aimed at fostering community resilience and countering extremist ideologies, Germany seeks to mitigate risks posed by terrorism and enhance regional security. The collaboration between Germany and these West African countries reflects a broader strategy to address security issues that transcend national borders, ultimately promoting peace and sustainability in the region. Togo, in particular, has been making noteworthy strides in improving its business climate as evidenced by its ranking on the World Bank’s Doing Business index. Holding the fifteenth position globally and first in Africa for the ‘Starting a Business’ index in 2020, Togo continues to implement numerous reforms aimed at bolstering its economy. These reforms are not limited to just starting a business; they encompass various aspects of economic activity including contract enforcement, trading across borders, obtaining construction permits, accessing electricity and water, registering property, public procurement, and paying taxes. Togo’s progress in enforcing contracts illustrates significant gains compared to previous years, with special chambers established to expedite small debt cases and new commercial courts in Lomé and Kara focused on swift dispute resolution. Moreover, the country has digitally transformed import and export procedures to improve efficiency and reduce delays significantly while enhancing its position on the ‘Trading across Borders’ index. With a focus on construction, Togo has moved up in the ranking for obtaining construction permits and continues to seek enhancements in this area. Efforts to simplify access to electricity and water are equally notable, with ongoing reforms aimed at ensuring a dependable supply for businesses. Real estate development boasts considerable improvements as well; Togo aims to surpass Rwanda’s achievements in property registration. It strives to create a conducive public procurement environment through modernization initiatives benefitting local entrepreneurs. Additionally, the reform of tax and duty payment procedures aims to attract more investors by creating a favorable taxation landscape, aided by ongoing digitization efforts.
This article discusses the recent €25 million allocation by Germany to Togo, Benin, and Guinea-Bissau for extremism prevention, reflecting a strategic partnership aimed at enhancing stability amidst threats posed by radicalization. Simultaneously, it explores the business reforms undertaken by Togo that have significantly improved its rank in the 2020 Doing Business index, demonstrating the country’s efforts to create a more inviting and robust economic environment. The reforms span various indicators that facilitate business operations and enhance economic growth in Togo, making it an attractive destination for investment.
In conclusion, Germany’s financial commitment marks a pivotal move towards combating extremism in West Africa, highlighting the importance of international cooperation in addressing security challenges. Concurrently, Togo’s ongoing reforms signify its proactive approach to fostering a conducive business environment, improving its global standings, and ultimately contributing to regional stability. Together, these developments reflect a commitment to sustainable growth and peace in West Africa.
Original Source: www.togofirst.com
