General Information

Togo is a member of the West African Economic and Monetary Union (WAEMU) and the Franc zone. Togo shares a common currency (the CFA franc or XOF), a central bank (the Central Bank of West African States BCEAO) and a common monetary policy with other member countries. The CFA franc is pegged to the euro with a fixed parity guaranteed by the French Treasury.

Foreign exchange regulations: transfers of funds abroad must be authorized by the BCEAO upon presentation of supporting documents and must go through an approved intermediary.
Togo's growth is now driven by the tertiary sector, the autonomous port of Lomé, and public investment.

Means of Payment & Banking Specificities

To secure your payment we recommend that the exporter use a documentary credit confirmed.
Delays in payment remain frequent if the transactions are not secured, this most often being due to currency supply issues during a transfer.
The best billing currency for trade remains the Euro.