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Togo

West African CFA Franc (XOF)

Digital payment adoption and credit card use in Togo are limited due to the predominantly cash-based society. However, efforts have been made to embrace digital financial services, as seen with the launch of Novissi, an all-digital government-to-person (G2P) payment program. This initiative aimed to provide financial relief during the pandemic and promote financial inclusion by reaching vulnerable populations, including those in rural areas.

Togo flag

Population

8,848,699

Banked Population:

49.61%

Group 427321246

Main industries

Agriculture, Mining, and Manufacturing

Group 427321247

Main imports

Refined & Crude Petroleum, Motorcycles & cycles,
Light Pure Woven Cotton, and Palm Oil

Group 427321248

Main exports

Refined Petroleum, Gold, Asphalt Mixtures,
Calcium Phosphates, and Soybeans

GDP stats

$918.4

Per capita (USD)

5.8%

Growth annually

152

World ranking

Internet usage

35%

Smartphone usage

23%

Credit/debit card usage

15%

Population transacting electronically

31%

Group 427321245 1

Total volume of digital payments projected to reach

$237.70M (USD)

Moov Money Togo

Mobile Money

T Money

Mobile Money

Moov Money Togo

Payout

T Money

Payout

Payment Methods in Togo

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  • Mobile Money
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