Your contact
Jean-Guy LARRIVIÈRE
Head of International Desk Africa, Middle East
Jean-Guy LARRIVIÈRE
Head of International Desk Africa, Middle East
Last updated: August 2024
The International Desk for Africa, the Maghreb, and the Middle-East provides support to the Crédit Agricole Group’s business clients in Togo, particularly with opening accounts and providing local financing in CFA francs. It makes use of a local frontline partner bank.
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 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.
Find out more
Find out more
Find out more
Find out more