De Gaulle Fleurance & Associés and Tchitchao Tchalim law firm have advised The Republic of Togo on the issuance of its first Sukuk for an amount of 156 billion CFA francs (approximately €237 million).

The transaction has been arranged by Islamic Corporation for the Development of the Private Sector, member of the Islamic Development Bank Group, advised by Hogan Lovells and managed by Zakiyouhali Sow, who led the discussions with the Togolese Budget Minister Sani Yaya, who has become in the meantime Minister of Economy and Finance.