Internet Access in Togo to be Boosted by Togocom and IFC

Togocom, a Togolese mobile operator and a subsidiary of AXIAN Telecom, has decided to partner with the International Finance Corporation (IFC), in order to improve access to high-quality mobile connections in Togo. IFC invests in private-sector projects in developing countries in order to promote economic growth and development.

Together with Ecobank Togo and Société Générale Benin, the €55 million loan will help Togocom upgrade its 4G network, modernize its infrastructure, and enhance the quality of its data traffic.  IFC has made investments in various sectors around the world, including telecommunications. Their investments often aim to improve access to telecommunications services, enhance infrastructure, and support the development of the private sector. 

Cina Lawson, Togo’s Minister of Digital Economy and Transformation, stated, “The partnership with IFC marks a decisive step to improve access to equipment and high-speed internet as well as to generate economic opportunities for our population.”

What Togocom and IFC Plan to Offer Togo

Togocom naturally offers a range of services to meet the communication needs of people in Togo. They provide mobile telephony services, allowing customers to make calls and send text messages using their mobile devices. They also offer fixed telephony services, which enable users to have a landline phone connection at their homes or businesses. 

In addition, Togocom provides internet services, allowing customers to access the web and stay connected. They also offer television services, providing entertainment and information through various TV channels. Togocom aims to cater to the diverse communication needs of individuals and businesses in Togo. With this investment, IFC hopes to help Togocom expand its fiber networks and 4G coverage, which will help Togo achieve its goal of providing universal internet access and connection in line with its Digital Transformation Strategy.

By 2025, the plan aims to have 95% of the population covered and important facilities connected to the internet.

“We take great pride in our critical role in advancing the country’s digital transformation and fostering connectivity among all Togolese citizens, spanning from the most remote areas of the broader region,” said Pierre Antoine Legagneur, CEO of Togocom. This investment demonstrates our commitment to continuously promoting digitization and economic growth in Togo.

Effect of IFC investment in Togo

IFC’s investment in Togocom can bring several advantages. Firstly, it can help improve the quality and accessibility of telecommunications services in Togo. This means that more people will have access to reliable mobile and fixed telephony, internet, and television services. Additionally, IFC’s investment can contribute to the development of Togocom’s infrastructure, allowing for better connectivity and expanded coverage across the country. 

It’s important to note that any investment can have both positive and negative impacts. Some potential investment side-effects could include increased competition in the telecommunications market, which could lead to improved services and lower prices for consumers. On the other hand, there might be challenges in managing the transition and ensuring that the benefits of the investment are distributed equitably. It’s crucial for all stakeholders to work together to maximize the positive effects and mitigate any potential negative consequences. 

However, the investment can also stimulate economic growth, create job opportunities, and foster innovation in the telecommunications sector. Overall, IFC’s involvement can have a positive impact on Togocom and the people of Togo, enhancing communication and driving socio-economic development. This is a great achievement for Togo.