Housing Finance in Togo


This profile is also available in French here.

To download a pdf version of the full 2023 Togo country profile, click here.

Togo’s population was predicted to be 8.5 million in 2021, expanding at a 2.3% annual pace. The urban population makes up 43% of the total population and is growing at a 3.7% annual rate.

Togo has recovered from the COVID-19 epidemic, but it, like the rest of the subregion, is dealing with an inflation issue brought on by the conflict in Ukraine, which has raised the price of particular needs. Togo’s economic growth rate in 2021 was 5.3%, up from 1.8% in 2020. The economic forecast for 2022 is positive, with 5.7% growth projected. However, the budget deficit remains problematic at 6.3% of GDP in 2021, compared to 6.9% in 2020. The state’s debt has increased, from 60.3% of GDP in 2020 to 64.7% of GDP in 2021, as a result of pandemic-related expenditure and a drop in state income as a result of weaker economic activity. In July 2022, the year-on-year inflation rate increased by 6.0%, owing mostly to increases in food costs of 7.6% and transportation prices of 11.8%.

Interest on bank deposits was 5.62%, with a real interest rate of 3.75%. At the bank level, nominal interest rates and credit rates were 7.60% and 5.70%, respectively. Only a dozen banks provide real estate loans, ranging from 7.75% for Orabank to 12% for the Togolese Bank for Trade and Industry.

Togo, like many other West African countries, experienced severe floods in 2010, and has taken significant steps to equip itself with disaster crisis-management instruments such as a National Platform for Disaster Risk Reduction, a National Civil Protection Agency, and the ongoing preparation of a national strategy for disaster risk reduction and  post-disaster recovery (2022–2026).

To address its housing demands, Togo is searching for major investment and developers with viable business models. Despite the Togolese government’s political intent and the presence of certain developers and investors in the industry, the challenge of developing land and providing affordable homes remains unresolved. The Land and State Code, which became legislation in Togo in June 2018, is the cornerstone of this initiative. There have been developments to establish favourable circumstances for home investment. Despite the fact that the nation has been plagued by violent extremism since November 2021, there are indications of tremendous development in terms of decent governance.

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 2023 edition, which has up-to-date profiles for 55 African countries.

Download yearbook
Neighbouring Countries Benin Burkina Faso Ghana
View more
View more
View more
View more