A total of 14,919 new businesses were registered in Togo in 2024, marking a 13% decline compared to 2023. Notably, women stood out in entrepreneurship compared to men.
Businesses formalized by Togolese nationals accounted for the majority of new creations in 2024, with 12,371 enterprises compared to 13,032 in 2023 (-4%). Meanwhile, the share of businesses established by foreigners dropped by 2%, from 2,622 in 2023 to 2,548 in 2024.
A 3.5% increase in businesses launched by women was one of the key highlights of the 2024 statistics. These businesses reached 4,450, up from 4,297 in 2023. As a result, women accounted for 30% of new businesses created during the year.
In contrast, the number of businesses launched by men declined by 7.8%, falling to 10,469 from 11,357 in 2023.
In recent years, Togolese authorities have implemented multiple measures to boost self-entrepreneurship across various economic sectors while simplifying the formalization process for small and medium-sized enterprises (SMEs).