The annual report of the Banking Commission of the West African Monetary Union (UMOA) reveals that Togo's banking rate has registered strong growth. It grew by 7% during 2020.

According to the report, in 2016 there were only about 950,000 bank account holders. Today, this number is growing from 1,099,990 in 2019 to 1,178,587 in 2020. Thus, according to statistics, citizens with bank accounts in credit institutions in Togo increased by 7%. These accounts are held in 16 structures, including 13 banks and 3 financial institutions. This upward trend, which reflects Togo's efforts in the field of digitizing public services, financial inclusion and mobile money, has been maintained in particular over the last 5 years