Government adopts new supplementary budget after privatization of TogoCom

Public Management
Monday, 16 December 2019 16:02
Government adopts new supplementary budget after privatization of TogoCom

(Togo First) - Last Friday, the government adopted a second supplementary budget act. This was during a ministers’ council held the same day. 

The new budget act integrates the privatization of TogoCom (which results from the merger of Togocel and Togo Telecom) after the State sold its 51% stake in the group to Agou Holding. 

While the transaction made the State a minority shareholder (49%) in TogoCom, it filled its treasury with XOF48 billion. 

Overall, the State’s new budget is expanded to 1,430.1 billion CFA francs, against 1,381.9 billion in the previous draft. 

“This second supplementary budget was adopted amid concerns for transparency and budget sincerity,” a statement from the council of ministers reveals.

Let’s note the new act still has to be approved by the parliament, before being effectively implemented. 

Séna Akoda

togofirst mobile

 
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