Clean Energy: Bloomberg mission in Togo, in the framework of 2018 Climatescope report

Energy

Thursday, 24 May 2018 17:27

Clean Energy: Bloomberg mission in Togo, in the framework of 2018 Climatescope report

(Togo First) - A mission from Bloomberg New Energy Finance (BNEF), a U.S. research firm that helps energy actors study investment niches and opportunities, is actually in Togo. The mission which came on May 23 will leave on May 25.

It came to collect data for its 2018 Climatescope annual report. The latter looks at the profile of about 100 nations and assesses their capacity to attract investment into clean energy, or more generally low-carbon energy sources.

Last Wednesday, the mission which is led by Eléonore Lazare was at the Presidency to start technical works related to the study. This was in the presence of top officials from the energy sector, development partners, actors of the private sectors and NGOs.

The meeting which was presided by the national coordinator of the business climate cell (CCA), Sandra Johnson, helped various involved actors know more about the Climatescope and understand its importance for Togo, regarding renewable energies development.

The study is based on a questionnaire submitted to power actors; it looks at four parameters which are: Enabling framework, clean energy investment and climate financing, low-carbon business and clean energy value chains, greenhouse gas management activities.

“This first featuring of our country in the Climatescope study will help it be ranked among references in terms of clean energy, and identify investment opportunities there are in this sector,” Sandra Johnson said. “The study will also help us determine priorities to make Togo more efficient and competitive in areas related to the development of clean energy, such as investment framework, both legal and fiscal, technology, energy market organization, funding and partnership strategies…,” she added.

Togo being featured in Climatescope now is quite fortunate, considering its 2030 clean energy development plan which requires no less than $460 million (CFA258 billion) to be implemented.

Fiacre E. Kakpo

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

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….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

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 .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.