Housing Finance in Togo

Overview

This profile is also available in French here.

To download a pdf version of the full 2021 Togo country profile, click here.

The crisis induced by COVID-19 has caused a significant slowdown in the growth of the Togolese economy, although this slowdown was less than expected. The country saw an estimated growth of 1.8% in 2020, against initial forecasts of 0.8%. The shock of COVID-19 was essentially cushioned by the significant public expenditure incurred by the government in response to the pandemic, in particular through various social programmes such including the Novissi cash transfer programme of emergencies for the people most affected by the movement restriction measures and the curfew. COVID-19 patients were covered fully in terms of health care and measures were introduced to provide free public services such as water and electricity for certain social groups. According to the Togolese authorities, these large and unexpected expenses, combined with a significant drop in budget revenues, contributed to widening the budget deficit to more than 6.9% of gross domestic product (GDP) in 2020.

Despite these efforts, the pandemic seems to have undermined the significant progress made in recent years in the fight against poverty through the significant investments made in basic social services and economic infrastructure. While the results of the harmonised survey on household living conditions (EHCVM) estimated the incidence of poverty at around 45.5% in 2018/19 (compared to 55.1% in 2015), this incidence is expected to increase slightly in 2020 because of COVID-19. Inflation has also increased to 1.3% in 2020, compared to 0.7% in 2019.

The Ministry of Town Planning, Housing, and Land Reform estimates that more than half of the Togolese population will live in cities by 2028, with an urbanisation growth rate of 3.7%. To respond partly to the challenges posed by this rapid urbanisation and the access to housing linked to it, the Togolese government has provided in its five-year action plan called “Roadmap 2020- 2025”, a construction project of 20 000 social housing units.

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 2021 edition, which has up-to-date profiles for 55 African countries.

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