Out of 34 eligible companies, six private Togolese companies (Midnight Soon, CH 2000, ETRADIX, BBTECH, STNT, SOTOMED) received the "Quality Label" award by COFACE. They were deemed solvent and credible, after several years of observation, vis-à-vis their trading partners.
"Quality Label certifies the creditworthiness, and facilitates the company's relationship with its partners and enables it to raise funds on financial markets," said Jamelino Akogbeto, the regional representative of the organization.
The Chairman of Togo Employers said that "this certification involves the promotion of private sector in Togo while encouraging the emergence of a new class of businessman ready to take on the international market."
COFACE (Compagnie française d'assurance pour le commerce extérieur) was founded in 1946 as an agency specializing in export credit insurance. It was privatized in 1994 and is now a limited company, a 100% owned subsidiary of the Natixis banking group.