NEWSROOM (ADV) – The government has adopted a bill establishing the commercial courts in Togo. The initiative is part of the program to improve the business climate.
One of the components of this program is dedicated to the execution of contracts which concern especially the functioning and organization of commercial justice.
According to the Press release of the Council of Ministers last Thursday, commercial chambers created in the court of Lome operate through a memorandum of understanding that, while guaranteeing good practices do not fill the gap in the legal basis of the procedure.
The institution of commercial courts will come at the right time to further regulate the sector.
“The present bill, inspired by the universal principles of quality justice and the rules enacted by the Organization for the Harmonization of Business Law in Africa (OHADA), regularizes this situation by creating the courts and instituting the procedure to be followed before the commercial courts,” the statement added.
Since September 29, 2017, the government has created the Business Climate Cell (CCA) to coordinate inter-ministerial efforts to ensure synergy and effectiveness of government action on economic reforms. The structure headed by Secretary of State Sandra Johnson.
With the establishment of the CCA, the Togolese government has accelerated since the end of 2017 the implementation of important reforms in terms of business creation.
Reforms that have been reinforced by the 2018 Finance Act which introduced new measures for business promoters.
From now on, it is possible to create a totally online business in Togo in just one day. In addition, several tax cuts are decided in the 2018 Finance Act to encourage investors to set up businesses. Existing businesses are not left behind.
© Bur-csa – A.H / Oumaima Mourtada – African Daily Voice (ADV)