Togo: Ekoué Djro Glokpor appointed national director of the BCEAO

Ekoué Djro Glokpor was officially installed as the head of the National Directorate of the Central Bank of West African States (BCEAO) for Togo during the second ordinary session of the National Credit Council (CNC) held in Lomé on June 18, 2026, according to the report published by the Togolese Ministry of Finance and Budget.

The new national director succeeds Akuwa Dogbe Azoma. He returns to Togo after several years spent at the BCEAO headquarters in Dakar, where he successively held the positions of Director of Accounting, General Director of Organization and Information Systems, and then Advisor to the Governor. His appointment was welcomed by the Minister of Economy and Strategic Monitoring, Badanam Patoki, who presided over the session in place of the Minister of Finance, Essowè Georges Barcola, who was unavailable.

“It is an honor for me to accept this responsibility that has been entrusted to me. I fully understand the work that lies ahead of me,” said Glokpor before the council members.

Persistent Imbalances in Credit Allocation

The session was also an opportunity to examine the economic and monetary situation as of the end of March 2026, revealing contrasting data. The use of digital banking services reached 32.2%, the average interest rate fell to 7.5%, and savings in banks and microfinance institutions increased. At the same time, bank support for businesses fell by 15%, as credit institutions prioritized regional financial markets, while microfinance increased its loans by 30%.

The sectoral distribution of bank credit remains concentrated: 70% of new financing is granted to a limited number of large enterprises. Agriculture only captures 1.5% of bank support, and housing 1.1%, noted Minister Patoki, who urged credit institutions to mobilize available risk-sharing mechanisms, including the Agricultural Financing Incentive Mechanism (MIFA), the African Guarantee and Economic Cooperation Fund (FAGACE), and the African Solidarity Fund (FSA).

The gross portfolio deterioration rate of the banking sector stood at 13.4%, significantly above the 5% threshold set as a target for 2027. The CNC urged the concerned banks to strengthen their recovery strategies.

Acceleration of Payment Digitalization

The session also adopted an action plan to accelerate the digitalization of payments across the Togolese territory. The Ministry of Finance did not specify the implementation timetable or the resources allocated to this plan.

The new national director of the BCEAO will be the main contact person for the institution with Togolese public authorities, the Ministry of Economy and Finance, as well as the general directorates of commercial banks established in the country. The UEMOA zone, to which Togo belongs, shares a common currency, the CFA franc, issued by the BCEAO whose headquarters are in Dakar.