The African Export-Import Bank (African Export-Import Bank) plans to expand its industrial investments in Togo, targeting sectors including phosphate processing and energy generation as part of broader efforts to boost local value addition and industrialisation across Africa.
The plans were discussed during a meeting in Lomé between Togolese President Faure Gnassingbé and Afreximbank board chairman George Elombi.
According to the bank, discussions focused on strengthening support for Togo’s industrial development strategy and expanding financing beyond existing projects.
Afreximbank is already involved in financing the Adétikopé Industrial Platform, one of Togo’s flagship industrialisation projects aimed at promoting manufacturing and export-oriented production.
The bank now intends to deepen its involvement by supporting phosphate beneficiation and electricity generation for industrial zones, sectors viewed as critical to boosting industrial competitiveness and reducing reliance on raw commodity exports.
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“We discussed creating wealth through the local processing of Togolese commodities,” Elombi said after the meeting.
He added that discussions centred on “phosphates, power generation for industrial zones, as well as broader efforts to process raw materials locally in Africa and increase local added value.”
Togo is one of Africa’s significant phosphate producers, and authorities have increasingly sought to move beyond raw exports toward domestic processing and higher-value industrial production.
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Analysts say expanding local processing could help the country capture more revenue from its natural resources while supporting job creation and industrial diversification.
Afreximbank said it also plans to help Togo mobilise additional financing and technical partnerships to advance the country’s long-term industrial ambitions.
The lender has been increasing its footprint across Africa through infrastructure financing, trade support and industrial development initiatives aligned with the African Continental Free Trade Area (African Continental Free Trade Area).
Beyond industrial projects, Afreximbank has also financed activities in media and sports broadcasting in Togo. In 2024, the bank arranged a €245 million financing package for New World Télévision to acquire broadcasting rights for major sporting competitions across the continent.
The latest discussions highlight Togo’s growing efforts to position itself as a regional industrial and logistics hub, supported by investment in infrastructure, manufacturing and energy development.
Officials say expanding industrial capacity remains central to the country’s economic strategy as it seeks to attract foreign investment and strengthen export competitiveness.
