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Lome the capital city of togos maritime region is a bustling hub of entrepreneurial activity the citys strategic location on the gulf of guinea has made it a key player in west africas economy with a population of over 15 million people lome is home to a diverse range of startups and established companies the history of entrepreneurship in lome dates back to the colonial era when european traders established a presence in the city today the city is known for its vibrant tech scene with startups focused on everything from fintech to ecommerce local universities such as the university of lome have played a key role in fostering entrepreneurship in the area these institutions provide a steady stream of talented graduates who are eager to start their own businesses despite its many strengths lome faces significant challenges the citys unemployment rate is high with many young people struggling to find work the living wage in lome is around 50000 cfa francs per month or roughly 90 usd this low wage makes it difficult for many people to make ends meet despite these challenges lomes startup scene is thriving the citys gdp has been steadily increasing in recent years and new companies are starting up all the time with its strategic location talented workforce and supportive business environment lome is poised to become a major player in west africas tech scene