Togo recorded a 76.87% rise in electronic money accounts between 2023 and 2024. This growth is among the highest in the West African Economic and Monetary Union, according to Central Bank of West African States data. Electronic money accounts are digital wallets used for payments, transfers, and storage of funds. By the end of 2024, Togo had 12.55 million accounts, with about 6.07 million active users.
The country also recorded over 81,000 service points and nearly 5,800 businesses accepting digital payments. Across the region, account numbers and transaction volumes also grew strongly. However, most transactions still involve deposits and withdrawals rather than payments. Authorities aim to expand digital transfers through new fintech solutions and instant payment systems.
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