Under its new Country Partnership Framework (CPF) for Togo, the World Bank approved three loans totaling $298 million (180 billion CFA francs) on May 23, 2024. For Sandra Johnson, Minister Secretary General to the Presidency, this first loan series is a milestone for Togo. "This agreement marks a decisive turning point for Togo, and together, we are building a country where every citizen can benefit from the progress made through these innovative and transformative projects," she said. The new CFP spans from 2024 to 2029.

Nous tenons à exprimer notre déférente gratitude à tous les acteurs de la @Banquemondiale, de l'Association Internationale de Développement (IDA), et plus particulièrement à @ousmane_diagana, @SPimentaIFC , Ethiopis Tafara et Fily Sissoko, ⤵️https://t.co/Z8dEieW64H

— Sandra ABLAMBA JOHNSON (@SandraA_JOHNSON) May 24, 2024

The three loans break down into a $200 million loan, a $75 million loan, and a $23 million loan. 

The first will help bolster inclusive development through a power supply project. The latter targets more than 1.5 million people, mostly in rural areas. 

The second loan, $75 million, will help develop the public sector by improving human resources and public finance management. It will also help digitize tax revenue collection.

The third loan, $23 million, will support the Social Cohesion Project in the Gulf of Guinea Northern Regions (COSO). The project aims to support refugees and host communities in Northern Togo better.

Besides these three facilities, the World Bank will provide Togo with $315 million to prevent and weather crises better. The funds will be made available through the Bank’s  Financing for Prevention and Resilience window.

Togo will therefore secure $613 million under its new CPF deal with the World Bank.

New CPF: $1.5 billion target for Togo

These funds represent the first milestones of the new Country Partnership Framework, under which the multinational institution intends to mobilize more than $1.5 billion (907 billion CFA francs) for Togo. "With this Country Partnership Framework, the World Bank is intensifying its commitment to Togo and plans to mobilize more than $1.5 billion to support reforms and investments in strategic sectors, such as agriculture, energy, connectivity, and the development of secondary cities. Youth and women will be the main beneficiaries of this partnership framework," said Fily Sissoko, World Bank Country Representative for Togo.

The new CPF targets three goals: creating quality jobs through the private sector, improving human capital, and promoting inclusive and resilient territorial development. Areas of focus are agricultural productivity, logistics, and connectivity. Several institutions, including the World Bank’s arms dedicated to concession loans and the private sector, the IDA and IFC, as well as the Multilateral Investment Guarantee Agency, will contribute to the initiative. 

According to Sergio Pimenta, “the IFC will work closely with the World Bank and MIGA to stimulate private sector participation in several promising sectors, such as agribusiness, infrastructure, digital, manufacturing, transport, and logistics”. As for the MIGA, its Vice President, Ethiopia Tafara, said it “will provide guarantees that could boost agriculture, public-private partnerships in infrastructure, digital investments, and the energy sector”.

Fiacre E. Kakpo

The telecom regulators of Togo (ARCEP) and Madagascar (ARTEC) recently signed a cooperation agreement in Lomé. The agreement, sealed by Yaovi Galley of Togo and Frederic Rajaokarivony of Madagascar, focuses on sharing Togo's expertise in telecom regulation and digital transformation with Madagascar.

As part of the agreement, a delegation from Madagascar visited ARCEP's Center for Monitoring Service Quality and Markets Observatory to enhance collaboration and knowledge exchange.

This agreement was formalized during the 21st Seminar of the Francophone Network of Telecom Regulators (FRATEL) held in Lomé on May 21 and 22, showcasing the commitment to fostering cooperation and sharing best practices in the telecommunications sector.

 Esaïe Edoh

Togo’s latest issue on the WAMU public securities market was a success. Lomé raised CFA38.5 billion in the operation which closed on May 24. The initial target was CFA35 billion.

In detail, CFA9.8 billion was raised through Treasury Bills (T-Bills) and 28.7 billion through Treasury Bonds (T-Bonds). The former securities mature over 182 days. The latter mature over three and five years, at 6.15% and 6.40% per year, respectively.

The issue’s report indicates that 39 investors subscribed, mobilizing CFA76.8 billion.

Funds retained will plug Togo's budget for 2024. The latter stands at CFA2,179 billion in expenses and revenues. 

This year, Togo seeks CFA607 billion on the WAMU market. So far, it has raised CFA393 billion, according to the UMOA-Securities Agency.

Esaïe Edoh

In Togo, the inflation rate stood at 4.1% in April, against 4.4% in March. The figure was disclosed by the National Institute of Statistics and Economic and Demographic Studies (INSEED).

Despite the slight slump, the general price level remained largely stable nationwide, with food prices being the exception.

Month-over-month, fresh product prices jumped 8.0%, while local products saw a 2.6% increase, outpacing the 0.3% rise in imported goods. Compared to January 2024, the general price level in April edged up 2.3%.

The uptick was primarily driven by categories like "Food and Non-Alcoholic Beverages" (+5.7%), "Housing, Water, Gas, Electricity, and Other Fuels" (+1.2%), and "Miscellaneous Goods and Services" (+1.1%). Transport costs saw a modest 0.4% increase from January.

Year-on-year, the general price level jumped 2.6% compared to April 2023, as indices rose across most categories tracked by INSEED, barring "Communication" and "Health".

Inflation in Togo has been volatile in recent years. It peaked at 15.83% in August 2008 and plunged to -26.77% in May 2010. The indicator is projected to average around 4.00% in 2025 and 3.60% in 2026.

Ibrahima Mémounatou, a recently re-elected member of the Togolese National Assembly, has been appointed as the new head of the Economic Community of West African States (ECOWAS) Parliament. The appointment took place during a session in Kano, Nigeria on Thursday, May 23, 2024.

Following the tradition of rotating presidency, Mémounatou assumes the leadership role, succeeding Sierra Leone's Sidie Mohammed Tunis. Previously serving as the third Vice-President of the outgoing bureau, Mémounatou is expected to work closely with other ECOWAS bodies to address various socio-political challenges in member states.

"Our responsibilities are weighty, and we must be aware of them and remain faithful to our commitments. We need to work together with intelligence, rigor, and determination," she stated.

During this 6th legislature of the ECOWAS Parliament, Mémounatou will collaborate with two other Togolese deputies, Senou Soklingbe and Patrick Kodjovi Senam Bolouvi, both members of the Union for the Republic (UNIR) party.

The ECOWAS Parliament, established in July 1993 with its headquarters in Abuja, Nigeria, consists of one hundred and twenty (120) seats. Each of the sixteen (16) member states has a minimum of five (05) seats, with the remaining forty (40) seats allocated based on the population of each country.

Esaïe Edoh

Lomé will host the 23rd International Pharmaceutical Forum (IPF) from July 3 to 6, 2024. Between 1000 to 1500 participants from Africa, Asia, Europe, and America are expected. The theme is "Access to Healthcare: Challenges, Issues, and Perspectives for the Pharmaceutical Sector".

The forum aims to improve healthcare services and ensure affordable medicines for all. Its main goal is to help participants, especially African pharmacists, provide quality healthcare services, as well as safe, effective, and affordable drugs. 

The forum will include presentations, discussions, and exhibitions to share experiences and recommendations for better healthcare systems. This gathering is crucial as 30% of the world’s population lacks essential healthcare services.

In Togo, discussions will focus on achieving Universal Health Coverage, securing necessary funds, and ensuring access to quality, affordable medicines. 

Dr. Sandouidi Alfred, the IPF's Permanent Secretary, is optimistic that the forum will lead to valuable recommendations for improving healthcare access globally. "The ultimate goal of the IPF is to formulate major recommendations so that each country can share its experience in achieving universal access to healthcare in Lomé. I am confident that we will emerge from this forum with strong recommendations that each country will implement so that our populations can benefit from the best healthcare," he said.

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Togo’s Public-Private Sector Consultation Committee (CCESP) has launched a satisfaction survey of the private sector's interactions with public administration. Led by the Minister of Commerce's chief of staff, Koffi Vinyo Mensah, the survey gathers feedback from local and foreign economic players on ongoing pro-business reforms.

The survey is carried out by the National Institute of Statistics and Economic and Demographic Studies (INSEED). According to the CCESP's executive secretary, it is key for enhancing businesses’ experience with public administrations. This aligns with the government's dialogue to boost cooperation between the private and public sectors, via the CCESP.

A sample of 2,500 companies will partake in the survey. The Association of Large Enterprises of Togo (AGET) noted that the survey must be carried out with integrity and impartiality, addressing critical aspects of the business ecosystem, including competitiveness.

Established in 2017, the CCESP works to cultivate trust between the State and the private sector, underscoring the ongoing commitment to fostering an environment that promotes economic growth and collaboration.

Togolese telecom firm Togocom and lender Orabank have teamed up to launch PASS TMONEY, a new mobile banking service, on May 23. The service enables offline money transfers between Togocom's TMoney mobile money platform and Orabank, in both directions.

PASS TMONEY also allows TMoney and Orabank users to check their balances and mini-statements via mobile.

The service is accessible through USSD code 145612#.

Orabank Togo CEO Guy Awona hailed PASS TMONEY as a major stride in Togo's financial inclusion efforts. Togocom CEO Pierre Antoine Legagneur echoed this sentiment, stating, "The alliance between banks and telcos in mobile money is key for financial inclusion."

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The number of people with high blood pressure is rising in Togo. From 2011 to 2021, the official proportion of people suffering from the condition rose from 19.7% to over 27%. The figure was disclosed on May 17, the World Hypertension Day.

"In 2021, Togo conducted its second survey involving populations aged 15 to 64. It turned out that hypertension is present in 27% of cases, affecting a quarter of the Togolese population," said Professor Mofou Belo, Professor of Neurology and Head of Non-Communicable Disease Surveillance at Togo’s Ministry of Health. "This is serious because it's a value that has evolved. In 2011, the same survey was conducted and hypertension was a concern in 19.7% of cases."

In Togo, over 80% of stroke victims are hypertensive, and about 6000 stroke cases are recorded annually. "This is a tragedy because it affects people of middle age between 45 and 50 years old most often. We also see young people falling victim to stroke," Prof. Belo said.

He then urged young people to get checked up once a year, at least, and old people once or twice weekly, "even if you are not hypertensive."

While lifestyles and consumption habits are implicated in the rise of hypertension cases, especially excessive consumption of salty foods, processed foods, alcohol, and tobacco, it is recommended to exercise and eat healthily.

Ayi Renaud Dossavi