Ekoué Djro Glokpor has officially assumed his role as the National Director of the BCEAO for Togo. This transition took place during the second ordinary session of the National Credit Council (CNC), held on June 18, 2026, in Lomé. The appointment comes at a pivotal time for the Togolese financial landscape, which is currently navigating a rise in digital banking services alongside a notable decline in corporate lending and a high concentration of credit among large firms.
Succeeding Akuwa Dogbe Azoma, Glokpor returns to Togo with extensive experience from the BCEAO headquarters in Dakar. His previous roles include Director of Accounting, Director General of Organization and Information Systems, and Advisor to the Governor. During the session, which was chaired by Badanam Patoki, Minister of Economy and Strategic Oversight, Glokpor expressed his commitment to the significant responsibilities associated with his new position.
Challenges in credit distribution and sector growth
The council meeting also reviewed the economic and monetary status as of March 2026. While digital banking usage has climbed to 32.2% and average interest rates have dropped to 7.5%, other indicators reveal deep-seated imbalances. Specifically, bank loans to businesses have decreased by 15%, as financial institutions increasingly pivot toward regional financial markets. In contrast, the microfinance sector saw a 30% increase in outstanding loans.
A major concern remains the concentration of credit, with 70% of new financing directed toward a small group of large corporations. Key sectors such as agriculture and housing remain underserved, receiving only 1.5% and 1.1% of bank support, respectively. To address this, financial institutions are being encouraged to utilize risk-sharing tools like the Incentive Mechanism for Agricultural Financing (MIFA), the African Guarantee and Economic Cooperation Fund (FAGACE), and the African Solidarity Fund (FSA).
Addressing portfolio quality and digital transformation
The quality of bank portfolios also requires attention, with the gross degradation rate standing at 13.4%—well above the 5% target set for 2027. Consequently, the CNC has urged banks to refine their recovery strategies. Additionally, the session saw the adoption of a strategic plan aimed at accelerating the digitalization of payments throughout Togo, reinforcing the country’s commitment to modernizing its financial infrastructure.
As the primary liaison between the central bank and Togolese authorities, Glokpor will play a crucial role in managing the nation’s financial ties within the UEMOA zone, where the CFA franc serves as the unified currency issued by the BCEAO.
