Togo appoints Ekoué Djro Glokpor as BCEAO national director
Ekoué Djro Glokpor has officially assumed leadership of the Togo National Directorate of the West African States Central Bank (BCEAO). His appointment was formalized during the second ordinary session of the National Credit Council (CNC) held in Lomé on June 18, 2026. The ceremony unfolded against a backdrop of mixed financial sector signals, with rising digital banking adoption, declining corporate lending, and a heavy concentration of credit favoring major corporations.
From Dakar to Lomé: A seasoned career in regional finance
Glokpor takes over from Akuwa Dogbe Azoma at the helm of the Togo BCEAO National Directorate. His return to the country follows years of service at the BCEAO headquarters in Dakar, where he held key roles as Director of Accounting, Director General of Organization and Information Systems, and Advisor to the Governor. The appointment was welcomed by the Minister of Economy and Strategic Monitoring, Badanam Patoki, who chaired the session in place of the Finance Minister, Essowè Georges Barcola, who was unavailable.
« This responsibility is an honor, and I fully recognize the magnitude of the task ahead, » Glokpor stated before the Council members.
Credit allocation disparities and digital payment expansion
Uneven lending trends and sectoral gaps
During the session, economic and monetary data as of March 2026 were reviewed, revealing stark contrasts. While digital banking service usage climbed to 32.2 %, average interest rates fell to 7.5 %, and savings in banks and microfinance institutions grew, corporate lending dropped by 15 %. Credit institutions shifted focus toward regional financial markets, while microfinance expanded its portfolio by 30 %. Sectoral credit distribution remains heavily skewed: 70 % of new financing flows to a small group of large enterprises. Agriculture received only 1.5 % of bank lending, and housing just 1.1 %, according to Minister Patoki.
He urged credit institutions to leverage available risk-sharing mechanisms, including the Incentive Mechanism for Agricultural Financing (MIFA), the Africa Guarantee and Economic Cooperation Fund (FAGACE), and the Africa Solidarity Fund (FSA).
The gross rate of banking portfolio deterioration reached 13.4 %, well above the 5 % target set for 2027. The CNC called on affected banks to strengthen their recovery strategies.
National plan to accelerate digital payments
The session also endorsed a national action plan to accelerate digital payment adoption across Togo. While details on implementation timelines and allocated resources were not disclosed, the initiative aims to modernize financial transactions nationwide.
The new BCEAO National Director will serve as the central liaison between the institution and Togo’s public authorities, the Ministry of Economy and Finance, and commercial bank leadership. As part of the West African Economic and Monetary Union (UEMOOA), Togo shares the CFA franc, issued and managed by the BCEAO from its headquarters in Dakar.
