(3 minutes read)
· Close to 25% of Togo’s maritime economy consists of second-hand goods imported from Europe
· Almost all citizens of Lome buy from this market multiple times. That trend continued even during Covid-19 times
· Across the city, once can see multiples of car parks numbering close to 34 or so
· The country imported US $19 million worth of second-hand vehicles in the first half of 2020, according to the Togolese Institute of Statistics and Economic Studies
In Togo, a platform of 13,000 square meters was made available by Lomé’s autonomous port authorities. This platform becomes a hub for second hand equipment selling everything including computers, appliances, electronics, sometimes even second-hand furniture. Importantly, close to 25% of Togo’s maritime economy consists of second-hand goods imported from Europe. Almost all citizens of Lome buy from this market multiple times. That trend continued even during Covid-19 times.
Major second hand goods sold are cars. There is a special areas marked for sale of used cars. Sometimes over 3000-to 5000 cars are parked in one platform waiting buyers. Across the city, one can see multiples of car parks numbering close to 34 or so. Sale of used cars is one of the top businesses of the country. The cars are either used domestically or exported to other Sahel countries. An estimate puts the sale of cars at 18,000 or so in a year.
The annual income of Togolese people is around 400,000 FCFA, according to the World Bank Report. The reason for having a large second hand car market is the debilitating financial conditions of the people. Most people cannot buy a brand new car, which carries a huge price tag. The country imported US $19 million worth of second-hand vehicles in the first half of 2020, according to the Togolese Institute of Statistics and Economic Studies.
