Ekoué Djro Glokpor has officially taken charge of the National Directorate 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 (NCC) held in Lomé on 18 June 2026, as confirmed by the Togolese Ministry of Finance and Budget.

The new national director succeeds Akuwa Dogbe Azoma. Glokpor returns to Togo after several years at the BCEAO headquarters in Dakar, where he served as director of Accounting, director general of Organisation and Information Systems, and later as advisor to the Governor. His appointment was welcomed by the Minister of Economy and Strategic Watch, Badanam Patoki, who chaired the session in place of Finance Minister Essowè Georges Barcola, who was unavailable.

“It is an honour for me to accept this responsibility that has been entrusted to me. I fully and completely measure the work that lies ahead,” Glokpor said before the council members.

Persistent imbalances in credit allocation

The session also reviewed the economic and monetary situation as of the end of March 2026, revealing mixed signals. The adoption rate of digital banking services reached 32.2%, the average interest rate fell to 7.5%, and savings held at banks and microfinance institutions increased. At the same time, bank lending to businesses dropped by 15%, as credit institutions favoured regional financial markets, while microfinance expanded its outstanding loans by 30%.

The sectoral distribution of bank credit remains concentrated: 70% of new financing goes to a small number of large companies. Agriculture receives only 1.5% of bank loans and housing just 1.1%, Minister Patoki noted. He urged credit institutions to use available risk-sharing mechanisms, including the Agricultural Financing Incentive Mechanism (MIFA), the African Guarantee and Economic Cooperation Fund (FAGACE), and the African Solidarity Fund (FSA).

The gross non-performing loan ratio stood at 13.4%, significantly above the 5% target set for 2027. The NCC called on affected banks to strengthen their recovery strategies.

Accelerating payment digitalisation

The session also adopted an action plan to speed up the digitalisation of payments across Togo. The Ministry of Finance did not specify the implementation timeline or the resources allocated to the plan.

As national director of the BCEAO, Glokpor will serve as the main point of contact between the central bank and Togolese public authorities, the Ministry of Economy and Finance, and the general managements of commercial banks operating in the country. Togo is part of the West African Economic and Monetary Union (UEMOA), which shares the CFA franc currency issued by the BCEAO, headquartered in Dakar.