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In a bid to accelerate business ease, Togo has sped up its company registration process making it possible to register a new entity within eight hours.
According to Samuel Sanwogou, Director of the business start-up centre (Centre des formalités des Entreprises-CFE), who also announced a partial dematerialisation of the process, company creators can now submit online requests and pay the application fees through accredited partners.
Last year, Togo’s reduction in company registration time to 24 hours, combined with the procedure simplifications, allowed for the creation of 10,545 new entities; a 27.5% rise in comparison to the number of companies created in 2017. It also helped Togo gain 19 places in the Doing Business 2019 to be the word’s 137th.
