Togo’s president faure gnassingbé discusses investment opportunities with afreximbank chairman

In a significant move for Togo’s economic future, President Faure Gnassingbé held discussions with Dr. George Elombi, Chairman of the Board of Directors of Afreximbank, in Lomé on Monday. Their high-level meeting centered on enhancing the strategic partnership between Togo and the prominent pan-African financial institution, alongside exploring promising investment opportunities across several key sectors.

During their exchange, the two leaders delved into various avenues aimed at accelerating the industrial transformation of Togo’s rich local resources. Specific areas of focus included the vital phosphate industry, boosting energy production to support industrial zones, and developing robust mechanisms for adding value to African raw materials. These discussions underscore a commitment to sustainable economic growth and industrialization within the nation.

Dr. George Elombi remarked on the productive nature of the talks, stating, “We engaged in discussions concerning wealth creation through the processing of Togolese primary products. We specifically addressed phosphate, energy generation for industrial areas, and other critical topics related to raw material transformation across African countries.” His statement highlights a shared vision for industrial development and leveraging local assets.

The Afreximbank official further reiterated the institution’s unwavering commitment to supporting Togo. This support includes mobilizing crucial financing and technical partners essential for advancing the country’s industrial development projects, positioning Togo for significant progress in its manufacturing capabilities.

Dr. Elombi’s visit to Lomé coincided with the 3rd edition of the Biashara Afrika business forum, an event jointly organized by the Togolese government and the African Continental Free Trade Area (AfCFTA). This strategic timing underscores the importance of fostering economic collaboration and trade across the continent.

The high-profile meeting serves as clear evidence of Togo’s increasing appeal to international investors and financial partners. It also powerfully illustrates the Togolese authorities’ firm resolve to champion the local transformation of natural resources, viewing it as a crucial engine for driving economic growth and creating substantial added value throughout the African continent. This proactive approach reinforces Togo’s position in current African affairs and its commitment to sustainable development.