Construction activity in Togo stood 4.1 points below its long-term average in July 2026, making it one of three West African Economic and Monetary Union (WAEMU) countries where activity weakened, alongside Mali and Niger. Turnover of non-financial services in Togo rose 9.7% from a year earlier, faster than the union's 7.6%, the regional central bank BCEAO said in its September economic report.
Analysis: The figures suggest stronger services than construction activity as the government plans spending restraint. Public works contractors could be particularly exposed to budget reductions, but the reported sector data do not establish the cause of the slowdown. Services turnover was also 6.9% below June, and the annual increase is provisional, so July alone cannot confirm a lasting trend. Financial services grew 15.5%, broadly in line with WAEMU. The regional central bank's next economic report, expected late in November, should indicate whether construction rebounded in August.
Source: Banque Centrale des États de l’Afrique de l’Ouest (BCEAO), BCEAO, Note de conjoncture économique dans les pays de l’UEMOA, septembre 2026, July 2026