The Committee of State-Private Sector Consultation and Cooperation (CCESP) in Togo convened its second meeting of the year on October 6 in Lomé. The meeting was chaired by Minister of Finance and Budget, Georges Essowè Barcola. Discussions centered around the medium-term revenue mobilization strategy, human capital development, and strengthening public-private partnerships. The meeting was attended by several high-ranking officials, including Minister of Economy and Strategic Monitoring, Patoki Badanam.
The participants reviewed the CCESP's activities over the past three months and examined the private sector's contribution to human capital development, in line with the government's new roadmap for 2026-2031. Presentations were made on the medium-term revenue mobilization strategy, recent economic developments, and their impact on Togo, as well as public-private partnerships. The meeting aimed to create a favorable business environment and promote private sector investment.
Minister Barcola recalled the vision of President Faure Gnassingbé, expressed during the France-Korea Summit in 2024 in Seoul. The President emphasized the state's role in facilitating private sector development, ensuring a favorable business environment, and promoting public-private partnerships. This vision aligns with the government's goal of creating an environment conducive to private investment and strengthening business security.
The Minister of Finance and Budget stressed that the state cannot address development challenges alone. He highlighted the need to leverage the private sector's investment capacity, capital, skills, and expertise to drive economic development. The government aims to create a favorable investment climate, and the private sector is seen as a key partner in achieving this goal.
The meeting also touched on international tensions, particularly in the Middle East, and their impact on global supply chains and oil prices. The situation has raised concerns about potential repercussions on production costs, budget balances, and household purchasing power. In response, the government has chosen not to fully pass on price increases to consumers, aiming to mitigate the effects on households and economic operators.
Minister Barcola presented three complementary levers to support Togo's national ambitions. These levers are expected to drive economic growth and development, with a focus on mobilizing revenue, developing human capital, and strengthening public-private partnerships. The CCESP's discussions will inform the government's strategies for achieving its development goals.
The CCESP's meeting demonstrates the government's commitment to collaboration with the private sector to drive economic development. The committee's discussions will help shape Togo's economic policies and strategies for the coming years. Key stakeholders, including the private sector and government officials, are working together to address development challenges and promote economic growth.
Key points
- The CCESP meeting focused on revenue mobilization and human capital development.
- The government aims to create a favorable business environment to attract private investment.
- International tensions were discussed, with concerns about their impact on Togo's economy.
