Lomé, Togo - The one-stop shop aimed at improving the business climate in Togo has started operations, after the data platform meant to simplify procedures for the entry and exit of goods was presented to operators in the capital city of Lomé.
The shop ends the red tape facing actors in Togo's trade sector, which is often criticised by traders as well as investors for the complexity of its administrative procedures.
According to the company operating the shop for Foreign Trade in Togo (SEGUCE), this will facilitate trade and allow commercial and logistics partners to provide standardised information and documents.
In October 2013, a concession agreement for the implementation of the one-stop shop was signed between the government and the Togolese group VERITAS/ SOGET, in response to numerous requests from the World Bank to carry out reforms and deal with complaints from economic operators.
The implementation of the one-stop shop is one of the reforms adopted by the West African country, after studies by the Bretton Wood institutions.
The institutions gave advice that would lead to the reduction in the number of forms to be filled, reduction in the number of required documents from 21 to 9 for companies, cutting costs by 40% and slashing the corporate tax from 37% to 30%.