Togo mobilizes CFA33 billion for its third simultaneous issue on the UMOA-securities market

Public finance

Monday, 24 August 2020 15:55

Togo mobilizes CFA33 billion for its third simultaneous issue on the UMOA-securities market

(Togo First) - For its third simultaneous bond issue on the UMOA-securities market this year, Togo garnered more than CFA76 billion. The operation which closed last Friday thus recorded a subscription rate of 255% since the country was seeking CFA30 billion.

While both issues involved fungible treasury bonds, their maturity periods differ. The first, which enabled Togo to mobilize over CFA50 billion from investors, will mature over three years. For the second, its maturity period is five years and the country raised CFA26 billion in its framework.

It should however be noted that out of the amount mobilized, only 33 billion will be retained, according to a statement from the UMOA-securities agency. The funds will finance the country’s budget.

Senna Akoda

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 .

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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)

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PUBLIC PROCUREMENT (more info)

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PAYING TAXES AND DUTIES (more info)

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