The fourth forum on trade and investment in Francophone West and Central Africa concluded on Thursday in the Togolese capital, Lomé.

This forum, jointly organised by the British and Togolese governments, aimed to explore the economic and commercial priorities of the participating countries and to examine how the British government could provide support to boost trade exchanges and encourage sustainable investments.

African priorities considered.

At the end of these 48 hours of discussions, it can be said that the first objective was achieved. Each participating Francophone country was given a panel, during which, though not exhaustively, priority projects were presented to British investors. In some cases, debates and discussions continued late into the evening to reach agreements and launch the implementation phase of these projects, ensuring that the Lomé meeting was not just another event.

British pragmatism.

Very pragmatic, the head of the British delegation, Ben Coleman, special envoy of the British Prime Minister fodr trade in Francophone Africa, stated that London would listen to Francophone governments to support their priority projects and help implement them. No conditions were mentioned for accessing funding. British financial institutions present, such as the British Chamber of Commerce, BII (British International Investment), UK Export Finance, and the Department for Business and Trade, spoke about their various commitments on the continent, while indicating their willingness to do more and better by supporting deserving projects. Ben Coleman affirmed that the United Kingdom would be ready to provide robust financing for its African partners. Mr Coleman also mentioned the priority sectors that would also be of interest to London in terms of financing: energy, transport, digital technology, health and water, as well as critical minerals. And these priorities would be almost identical to those of the African partners.

Togo: A Nation with Determination

Togo, through the voice of its Council President, has highlighted its strengths, notably its deep-water port and the reform of its investment code to make it even more attractive. There is also political and institutional stability, which remains a key factor for any investor. Finally, the country pursues a good neighbour policy, meaning the Togolese government enjoys good relations with all its neighbours and even beyond. It is for all these reasons that Togo’s Minister of Finance and Budget, George Barcola, has stated that the risks in Togo are well under control.

According to Gregory Krief, Director of the MSC, a maritime group, the Port of Lomé is ranked 92nd among the world’s best ports, which is a significant achievement for the country. Thanks to its geographical position and its diplomatic and economic leadership, Togo, as the Council President Faure Gnassingbé remarked, has become the meeting point between Africa and the world.

With an annual growth rate of 6% and controlled inflation around 1.8%, Togo is working even harder towards budgetary transparency and, above all, to rationalise government expenditure. All these achievements have earned Togo the congratulations of the Bretton Woods institutions.

Today, Africa needs investment and fair trade. This is precisely what the British came to offer Francophone Africa at the Lomé Forum. As we have emphasised, this comes without no conditions—unlike some other European countries or even certain international institutions. With its youthful population, African countries, as highlighted by the Togolese Council President, no longer wish to be merely a market, but true partners in development. The potential for development remains immense on the continent, and without a win-win partnership, development efforts will be in vain.

Bilateral trade between the United Kingdom and Francophone Africa has increased by 10% in recent years, which is commendable, but there is still huge room for improvement given the continent’s diversified agricultural resources and abundant mineral resources. At the Lomé Forum, British officials succeeded in convincing their counterparts of their good intentions. Now, it is time to move to action.