CORPORATE NEWS

IFC partners with Togocom

IFC

The strategy aims to foster strong growth, social inclusion, and job creation by providing mobile and fixed broadband connectivity to 95 percent of the population, and ensure that 95 percent of hospitals, schools, and all public administration buildings have internet connectivity by the end of 2025.

To scale up access to quality mobile connectivity for millions of subscribers, individuals, and businesses in Togo, supporting the country’s digital transformation, IFC has partnered with Togocom. Under the partnership, IFC will provide Togocom with a loan of €55 million structured with the participation of Société Générale Benin through its branch Société Générale Togo and with Ecobank Togo, to help the company modernize its infrastructure, accelerate the rollout of its 4G network, expand its fiber network, and improve its data traffic quality and speed.  

“At Togocom, we take great pride in the critical role we play in advancing the country’s digital transformation and fostering connectivity among all Togolese citizens, spanning from the remotest areas of the broader region. This investment is testament to our dedication to consistently champion economic development and digitalization in Togo,” said Pierre Antoine Legagneur, Chief Executive Officer, Togocom.

“The partnership with IFC marks a decisive step to improve access to equipment and high-speed internet and also to generate economic opportunities for our population. Beyond its economic impact, digital tools have the potential to enhance the daily lives of our citizens, and facilitate access to education, healthcare, and targeted social assistance,” said Cina Lawson, Minister of Digital Economy and Transformation of Togo. 

“Providing reliable mobile connectivity is critical to bridge the digital divide in Togo. IFC’s investment in Togocom is testimony to our commitment to support Togo’s efforts to advance its digital transformation strategy to foster growth, social inclusion, and job creation,” said Olivier Buyoya, IFC Regional Director for West Africa.

IFC’s investment in Togocom is in line with its broader strategic focus on infrastructure. IFC offers long-term financing and industry-leading advisory expertise to develop infrastructure projects that provide essential services. In 2023, IFC invested $1.76 billion to support digital infrastructure and help connect the unconnected in Africa.

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