Togo

Money transfer: the Togolese diaspora, a model of development

joie-afrique

The recent reports from the World Bank concerning the amounts of money transferred by the African Diasporas to their country of origin are encouraging. A continuous increase of the transfers since a few years is noticed. The Togolese Diaspora particularly became famous with the 348 million dollars sent during the year 2014. This figure widely exceeds the contribution of the Diaspora of nearby countries as Ghana and Benin that respectively sent 182 and 147 million dollars.

The contribution of the Togolese from outside is appreciated as far as they are only two (2) millions contrary to the Beninese and the Ghanaians estimated at four (4) millions. According to Serge-Marie N’guessan, Representative Resident of the ADB in Togo, “the Togolese Diaspora constitutes a source of social investment enormously contributing to the development of the real estate, the new business start-up, the financing of schooling, the agricultural investments and the reduction of poverty in Togo.”

In fact, the contribution from the Togolese Diaspora exceeds by far the budgetary supports of the partners of Togo and representes 10 % of the GDP. The significant contribution from the Togolese Diaspora to the development of the country (from $337 million in 2013 to $348 million in 2014) is partially understandable by the mechanisms set up by the Togolese government to create investment environment favorable to the latter.

The Diaspora Program allows the acquisition of skills for the capacity building, the improvement of the business climate and the initiatives from the Diaspora in favor of the local development. These means exist to more attract the fellow countrymen from the Diaspora to actually get involved in the development of the country“, indicated Antoine Gbékobou Coordinator of the Program.

As a reminder, the contribution from the Togolese Diaspora represents the quarter of the annual budget of the State.

 

Original text by: Roger ADZAFO

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