FATF status

Togo is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Togo was undertaken in 2022. According to that Evaluation, Togo was deemed Compliant for 6 and Largely Compliant for 10 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

The Togolese government has implemented various measures to combat corruption, including the establishment of institutions like the High Authority for the Prevention and Fight against Corruption and Related Offenses (HAPLUCIA) and the adoption of a national anti-corruption strategy for 2023-2027. Despite these efforts, challenges remain, such as insufficient legal protections for NGOs investigating corruption and a lack of civic education on the issue. Togo's commitment to anti-corruption is further demonstrated by its participation in international agreements like the United Nations Convention Against Corruption and the Extractive Industries Transparency Initiative.

Togo's economy has shown steady growth of approximately 5% annually since 2008, supported by government reforms aimed at enhancing the business environment and attracting investment. The country benefits from its strategic location with Africa's 4th busiest port and is focused on modernizing infrastructure, increasing agricultural production, and developing light manufacturing to further stimulate economic development.

Togo's investment climate is bolstered by a reform-minded government and the strategic positioning of its port, which is the fourth busiest in Africa. The government has implemented various reforms to attract foreign direct investment, including the establishment of the Adetikiopé Industrial Platform, which has successfully drawn significant investments, such as a $25 million commitment from a U.S. textile company in 2023. However, challenges such as corruption, a weak legal system, and unclear land titles persist, necessitating ongoing improvements to maintain investor confidence.