Togo Country Summary

FATF Status

Togo is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Togo was undertaken in 2022. According to that Evaluation, Togo was deemed Compliant for 6 and Largely Compliant for 10 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

Togo faces significant challenges related to crime and corruption, despite the government's efforts to combat these issues through the establishment of various institutions and strategies aimed at enhancing transparency and accountability. Human trafficking, particularly of children for labor exploitation, along with widespread counterfeit goods trade and drug trafficking, are prevalent criminal activities, compounded by a judicial system that, while improved, still suffers from resource limitations and corruption.

Togo's economy is on a positive trajectory, bolstered by a reform-oriented government and the presence of Africa's fourth-busiest port, which enhances its appeal for U.S. firms looking to invest locally and regionally. The government's National Development Plan (PND) aims to modernize infrastructure, boost agricultural production, and foster light manufacturing, while also addressing social development goals such as nationwide electrification. However, challenges such as a weak legal system, corruption, and public utility inefficiencies persist, necessitating ongoing reforms to sustain economic growth and attract foreign direct investment.