Togo appoints Ekoué Djro Glokpor as new BCEAO national director
The Togolese government has appointed Ekoué Djro Glokpor as the new National Director of the Central Bank of West African States (BCEAO) for Togo. His installation took place during the second ordinary session of the National Credit Council (CNC) held in Lomé on June 18, 2026. The appointment comes at a time of contrasting financial signals, with rising digital banking adoption, declining corporate lending, and a heavy concentration of credit toward large corporations.
Ekoué Djro Glokpor replaces Akuwa Dogbe Azoma and brings extensive experience from his roles at the BCEAO headquarters in Dakar. There, he served as 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 the absence of the Minister of Finance, Essowè Georges Barcola.
“I deeply understand the responsibilities entrusted to me,” Glokpor stated before the Council members. “This role is both an honor and a significant challenge.”
Persistent credit allocation imbalances
The session reviewed the economic and monetary situation as of March 2026, revealing mixed trends. While digital banking usage reached 32.2%, average interest rates dropped to 7.5%, and savings with banks and microfinance institutions rose, bank lending to businesses fell by 15%. Meanwhile, microfinance institutions increased their loan portfolios by 30%.
Credit allocation remains heavily skewed: 70% of new financing goes to a small number of large corporations. Agriculture received only 1.5% of bank loans, and housing 1.1%, according to Minister Patoki. He urged banks to leverage risk-sharing mechanisms such as the Mécanisme incitatif de financement agricole (MIFA), the Fonds africain de garantie et de coopération économique (FAGACE), and the Fonds de solidarité africain (FSA).
The gross non-performing loan ratio stood at 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 meeting also adopted an action plan to accelerate digital payment adoption across Togo. While implementation timelines and resource allocations were not disclosed, the initiative aims to modernize the country’s financial infrastructure.
As National Director, Glokpor will serve as the BCEAO’s primary liaison with Togolese authorities, the Ministry of Economy and Finance, and commercial banks operating in the country. Togo, a member of the West African Economic and Monetary Union (WAEMU), shares the CFA franc as its common currency, issued by the BCEAO, headquartered in Dakar.
