Ekoué Djro Glokpor, the new national director of the Central Bank of West African States (BCEAO) in Togo, has pledged to work more closely with banks to expand business lending while keeping financial risks under control.
Glokpor, who took office in June, was formally installed as national director in Lomé on November 6, 2026, at a ceremony attended by BCEAO Governor Jean-Claude Kassi Brou and several government officials.
Speaking at the ceremony, Glokpor said he would work more closely with banks, electronic money providers and microfinance institutions. He said regular consultations with financial institutions would help expand access to credit, promote responsible lending and support economic growth.
Glokpor brings extensive experience within the BCEAO to the role. He began his career at the bank's Lomé office in 1996 before moving to its Dakar headquarters 11 years later. He rose through the ranks and became director of accounting and management control in 2015, overseeing efforts to align the bank's accounting framework with International Financial Reporting Standards (IFRS).
In 2022, he was promoted to director general of organization and information systems, overseeing projects involving digital transformation, data governance and cybersecurity. According to Governor Kassi Brou, Glokpor also chairs a task force that helped develop interoperable digital financial services, including the regional instant payment platform PI-SPI. Appointed adviser to the governor in 2024, he returns to Lomé after three decades with the institution.
Glokpor now faces the challenge of improving access to bank credit, particularly for smaller businesses. Although Togo's banking sector has expanded, lending remains heavily concentrated among large companies. At the June 2026 meeting of the National Credit Council, the government reported that agriculture accounted for just 1.5% of bank lending, while 70% of new loans went to a limited number of large companies.
That concentration highlights the barriers smaller businesses continue to face when seeking loans to invest, upgrade equipment or expand operations.
Balancing Credit Growth and Banking Risks
Banks also face pressure to increase lending without taking on excessive risk. Nonperforming loans remain a significant concern. In June, authorities reported a gross nonperforming loan ratio of 13.4% and urged the banks concerned to strengthen their loan recovery procedures.
More recent figures nevertheless point to an increase in agricultural lending. In September, Finance and Budget Minister Essowè Georges Barcola reported that loans to the sector had risen 93.3% to CFAF15.4 billion. He called on banks to expand lending further, particularly through guarantee mechanisms that allow lenders to share the risks associated with business loans.
Turning Dialogue Into Results
Glokpor takes on his new responsibilities at a time when Togo's economy has remained resilient but continues to face vulnerabilities. As national director, he will serve as a link between economic authorities, the central bank and financial institutions, with expanding access to credit among his main priorities.
The BCEAO does not directly decide which businesses receive loans. Those decisions rest with commercial banks. It can, however, help improve lending conditions, facilitate information sharing and support initiatives to expand access to credit.
The government also faces pressure to finance its budget deficit, projected at CFAF247.6 billion in 2026, or 3.4% of GDP. For 2027, it plans a budget of CFAF2,684.1 billion, including CFAF490 billion earmarked for implementing its new development roadmap.
Barcola said he was counting on Glokpor's expertise to help the government secure financing on favorable terms. Governor Kassi Brou also emphasized the advisory role the national director is expected to play with the country's economic and financial authorities.
The banking sector has its own priorities. Guy Awona, president of Togo's Association professionnelle des banques et établissements financiers (APBEF), the country's banking and financial institutions association, identified three areas of focus: expanding lending to businesses in productive sectors, increasing financial inclusion, and strengthening solvency, compliance and risk management.
Digital payments are another priority. Glokpor intends to accelerate adoption of PI-SPI, the BCEAO's regional interoperable instant payment platform, to make transactions between financial institutions easier and expand access to financial services. He said the initiative should help significantly improve financial inclusion in Togo.
But while the platform can simplify payments and money transfers, it cannot, on its own, resolve the difficulties businesses face in obtaining credit. Glokpor's challenge will be to help businesses secure more credit without encouraging banks to take risks that could undermine financial stability.
Fiacre E. Kakpo