Togo to launch MIFA funding scheme for agricultural sector, next June 25

Economic governance

Thursday, 21 June 2018 18:15

Togo to launch MIFA funding scheme for agricultural sector, next June 25

(Togo First) - Togo’s president Faure Gnassingbé will launch next June 25, the Agricultural Financing Incentive Mechanism (MIFA, formerly called TIRSAL). According to Aristide Agbossoumonde (photo), head of the MIFA Implementation Body, it is an agricultural funding booster based on a risk sharing mechanism. In this framework, a MIFA-centered fair will be organized June 23 to 25 in the Show and Fair Center (CETEF-Togo 2000). It is expected to ease B2B meetings with a view to seeking financing for agricultural project developers. In Togo, “MIFA aims to transform the agricultural sector’s financing. In 2017, only 0.2% of bank loans went to agriculture. The target is to reach 5% within three years”. Let’s note that this mechanism concept was successful in Nigeria where it is called NIRSAL. The fair is set as a platform dedicated to Togolese agricultural operators including producers, processors, input suppliers, service providers. In this regard, the event initiators have provided, as an incentive, a bonus of 100 free stands to potential exhibitors.

Séna Akoda

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

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CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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