Togo: the state plans to sell its stake in Nouvelle Société Cotonnière du Togo

Agriculture
Monday, 29 June 2020 15:06
Togo:  the state plans to sell its stake in Nouvelle Société Cotonnière du Togo

(Togo First) - The State will give up its 40% shares in the Nouvelle Société Cotonnière du Togo (NSCT). The government adopted in this framework a bill to transfer the stake to the private sector, in full, if an interested investor is found, or in part.

For the moment, the other stakeholder of the NSCT is the national federation of cotton farmers (FNGPC) which holds 60% of the firm. 

Let it be noted the NSCT has greatly contributed to an increase in Togo’s cotton output. Indeed, from 27,000 t in 2009 (the lowest level ever recorded), the company helped ramp this output to 137,000 t during the 2018-2019 campaign. 

The increase also impacted farmers’ earnings. In 2019, their net income exceeded XOF24 billion, “a performance which no other sector could achieve so far,” said the minister of agriculture, Noël Bataka. 

However, between the 2018-2019 campaign and the 2019-2020 campaign, cotton production shrunk to 116,000 but the country expects this figure to rise to 200,000 t by 2022. 

Séna Akoda

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