new Togo bceao leadership to tackle credit gaps and digital banking

Togo has welcomed a new national director for the Bank of Central African States (BCEAO)—Ekoué Djro Glokpor—who assumes his role at a pivotal moment for the country’s financial sector. His appointment was formalized during the second ordinary session of the National Credit Council (CNC) in Lomé, held on June 18, 2026. The transition arrives amid a complex financial landscape, where digital banking adoption is rising, but credit access for businesses—and particularly for small and medium-sized enterprises (SMEs)—remains constrained.

a seasoned banker returns to tackle sector challenges

Glokpor, who previously served at the BCEAO headquarters in Dakar, brings extensive experience in financial governance. His roles included heading the Accounting Department, overseeing Organizational and Information Systems, and advising the Governor. He succeeds Akuwa Dogbe Azoma and now serves as the central bank’s primary liaison with Togo’s financial institutions, government agencies, and regional economic authorities. During his installation, he acknowledged the magnitude of the task ahead, stating, “I fully recognize the responsibility placed upon me and am committed to addressing the pressing challenges in our credit ecosystem.”

credit allocation remains skewed despite growth in digital banking

The CNC session also reviewed economic indicators as of March 2026, revealing both progress and persistent imbalances. While digital banking adoption soared to 32.2%, the average lending rate eased to 7.5%, and savings deposits in banks and microfinance institutions climbed. However, bank lending to businesses dropped by 15%, as lenders shifted focus toward regional financial markets. Meanwhile, microfinance institutions expanded their portfolios by 30%.

The credit landscape remains highly concentrated: 70% of new loans flow to a small cluster of large corporations, while sectors like agriculture (1.5% of bank credit) and housing (1.1% of bank credit) receive minimal support. Badanam Patoki, Togo’s Minister of Economy and Strategic Oversight—who chaired the session—urged banks to leverage risk-sharing instruments such as the African Guarantee Mechanism (MIFA), African Guarantee and Economic Cooperation Fund (FAGACE), and the African Solidarity Fund (FSA) to broaden access.

The banking sector’s gross loan default rate reached 13.4%—well above the 5% target set for 2027—prompting the CNC to call for stronger debt recovery strategies among lenders.

Togo advances digital payment transformation agenda

In a bid to modernize the financial infrastructure, the CNC endorsed a national action plan to accelerate digital payment adoption across Togo. While details on implementation timelines and allocated resources remain undisclosed, the initiative aligns with broader regional efforts to reduce cash dependency and improve financial inclusion under the West African Economic and Monetary Union (UEMOA) framework. The BCEAO, which issues the CFA franc used by Togo and seven other member states, continues to play a pivotal role in shaping monetary policy and financial sector stability across the region.