Togo appoints Ekoué Djro Glokpor as BCEAO national director

The Togolese government has officially installed Ekoué Djro Glokpor as the new National Director of the West African States Central Bank (BCEAO) for Togo. The appointment was formalized during the second ordinary session of the National Credit Council (CNC) held in Lomé on June 18, 2026. The ceremony took place against a backdrop of mixed signals in the financial sector, with rising digital banking adoption, declining business loans, and a heavy concentration of credit toward large corporations.

Glokpor succeeds Akuwa Dogbe Azoma and returns to Togo after years of service at the BCEAO headquarters in Dakar, where he held key roles including 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.

« It is an honor to accept this responsibility. I fully understand the magnitude of the task ahead, » Glokpor stated before the Council members.

Persistent credit allocation imbalances

The session reviewed the economic and monetary situation as of March 2026, revealing a mixed picture. While digital banking usage rose to 32.2%, average interest rates fell to 7.5%, and savings in banks and microfinance institutions increased, bank lending to businesses dropped by 15%. Credit institutions favored regional financial markets, while microfinance expanded its loan portfolio by 30%.

Sectoral credit distribution remains highly skewed: 70% of new financing goes to a small number of large enterprises. Agriculture receives only 1.5% of bank loans, and housing just 1.1%, Patoki noted. He urged credit institutions to leverage risk-sharing mechanisms such as the Agricultural Incentive Financing Mechanism (MIFA), the African Guarantee and Economic Cooperation Fund (FAGACE), and the African Solidarity Fund (FSA).

The gross non-performing loan ratio reached 13.4%, well above the 5% target set for 2027. The CNC called on affected banks to strengthen their recovery strategies.

Accelerating payment digitalization

The Council also adopted an action plan to speed up the digitalization of payments nationwide. However, no implementation timeline or allocated resources were disclosed.

As National Director, Glokpor will serve as the BCEAO’s primary liaison with Togolese public authorities, the Ministry of Economy and Finance, and the country’s commercial banks. Togo is part of the West African Economic and Monetary Union (UEMOA), which shares the CFA franc, issued by the BCEAO with its headquarters in Dakar.