The government of Togo is working hard to implement its financial inclusion strategy. With this in mind, the state intends to set up a digital bank.
“Our ambition in Togo is to set up a digital bank. It’s not just to digitize financial services, but to set up a 100% digital banking structure to support our economy and allow us to cover our entire geographic territory because we have digital divides despite progress in terms of financial inclusion, ”explained Mazamesso Assih, Minister responsible for Financial Inclusion and the Organization of the Informal Sector.
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He made the statements during a webinar hosted by the Beninese authorities on January 14 and 15. The webinar focused on the social response to Covid-19 in Africa. Togo is number one in access to financial services in the West African Economic and Monetary Union zone. Its banking rate is 78.5%. With its digital banking project, it clearly does not intend to lose its place.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer