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 institutions and strategies to combat corruption, including the establishment of the High Authority for the Prevention and Fight against Corruption and Related Offenses (HAPLUCIA) and a national anti-corruption strategy for 2023-2027. These efforts aim to strengthen legal frameworks, mobilize national actors, and enhance public administration integrity. Despite these initiatives, challenges remain, particularly regarding the protection of NGOs involved in anti-corruption efforts and the need for greater civic education on the issue.

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 National Development Plan focuses on modernizing infrastructure, boosting agricultural production, and developing light manufacturing, while the government actively seeks private sector investment to achieve these goals. However, challenges such as corruption, a weak legal system, and public utility issues persist, which could hinder sustained economic progress.

Togo's investment climate is bolstered by a reform-minded government and the strategic location of Africa's 4th busiest port, which enhances its appeal for foreign direct investment (FDI). The government has implemented various reforms, including a new Investment Code that ensures equal treatment for foreign and domestic investors, and has established the Adetikiopé Industrial Platform to attract significant investments. However, challenges such as corruption, a weak legal system, and unclear land titles persist, necessitating ongoing efforts to improve the business environment.