Housing Finance in Togo


This profile is also available in French here.

To download a pdf version of the full 2020 Togo country profile, click here.

Togo’s housing sector is yet to cope with increasing population growth in the urban areas (the annual population growth in 2019 was estimated at 2.42 percent and the population at 8 082 366 inhabitants); urbanisation is especially strong in Lomé. 50 percent of the Togolese population is expected to live in urban areas by 2028.

Togo’s economy is dominated by  agriculture, which most of the population is involved in. The economic growth  of Togo predicted to contract to 1.5 percent in 2020 because of Covid -19 pandemic. The government implemented various measures including interest rate cut by 50 basis points by the central bank as well as supporting families who lost income during the pandemic.

Financial inclusion in Togo remains a challenge regardless the slight increase in the number of  the population over 15 years who use formal financial institutions services. The financial services delivery landscape in Togo is dominated by microfinance institutions who spread their reach to the rural and peripheral populations. However, the microfinance institutions do not offer formal home loans to finance housing although it seems beneficiaries use some of the funds offered in real estate projects. Mortgages offered by banks are difficult to obtain and when offered, they come with strict terms like reporting regular income or land securities. However, regional initiatives for a better access to housing finance in WAEMU countries driven by driven by the the CRRH-UEMOA  is expected to boost the housing market in the region and Togo as well. The government’s  reforms and the one stop shop to accelerate the land  registration process and reduce costs of issuing land title are also a step to boost the housing market.

Despite these laudable initiatives, there remain some concerns to be tackled to improve housing affordability that include security of land ownership, access to housing finance, effective planning, and sustainable development of urban areas. Effective water and electricity networks for domestic use are also needed.

Find out more information on the housing finance sector of Togo, including key stakeholders, important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2019 edition, which has up-to-date profiles for 55 African countries.

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