Panafrican News Agency

Togo: Government recommends investment fund for Togolese living abroad

Lomé, Togo (PANA) – The Togolese government has called for the establishment of an investment fund from Togolese in the Diaspora for better organization of their contribution to efforts for the growth and development of the country.

The Togolese authorities note that recent surveys indicate that remittances by Togolese in the Diaspora were three to six times higher than the budget fund granted by developed countries to Togo as development aid.

The survey indicated that in 2013, the Togolese Diaspora transferred to Togo 187 billion CFAF, which generated 14 billion CFAF in tax receipts for the country.

Seeing the importance of the fund, the government has recommended the creation of the investment fund from Togolese living abroad.

Similarly, the Togolese authorities, to better encourage the Diaspora to work for the development of the country, have decided that from 21 August, it would abolish entry and exit visa requirements for all Togolese holding foreign passports, except those who legally give up their Togolese nationality.

The decision aims at “facilitating the entry, stay and exit of the country” for the Togolese, to ease their frequent return to the country, as well as their contribution to socio-economic development”.

It follows the recommendations from the Diaspora talks held in the French capital, Paris, Montreal, Canada, and Lomé in the last quarter in 2013 and in the first quarter this year.

Official sources estimate the number of Togolese in the Diaspora at 1.5 million, or a quarter of the population.
-0- PANA FAA/JSG/MSA/MA 9July2014