Experts and executives from universities in 20 member countries of the Organization of African, Caribbean, and Pacific States (OACPS) are holding a three-day meeting in Lomé to discuss research and innovation (R&I) financing. Started on May 6, the roundtable aims to bolster this financing, according to local media Togopresse.

Participants are exploring ways to establish national funds that promote sustainable development through research and innovation. They will also develop a manual to guide the creation of these funds, ensuring better coordination and efficient use of resources.

Furthermore, the meeting will lay the groundwork for a transnational network of stakeholders involved in research and innovation. This network will facilitate regional and sub-regional collaboration, enabling more effective responses to difficult and cross-border issues related to research and innovation financing.

Togo is already committed to mobilizing funds to finance research, having formed a team of experts to study the feasibility of creating a national fund, according to Kossi Sénamé Dodzi, Director of Scientific Research.

Esaïe Edoh

The Togolese Storage Company (STE), responsible for storing and distributing petroleum products, recently inaugurated a photovoltaic plant on its premises. The ceremony, held on Tuesday, May 7th, was attended by various dignitaries.

With an installed capacity of 90.6 Kwc across 426 m2, the system is set to cover a portion of STE's energy needs and reduce electricity costs. The plant is expected to generate up to 10.36 Mwh per month, equivalent to 30% of the company's total monthly energy consumption of 34.98 Mwh.

"We hope that through these results, the investment will continue and reach 75% self-consumption, just by using our developed spaces," said STE's Managing Director, Tchalla Péré.

Mensah Koffi Vinyo, representing the Minister of Trade and Local Consumption, praised STE's environmental commitment while emphasizing the significance of energy transition.

The installation of the solar power plant by STE coincides with increasing power outages in Togo's urban areas, particularly in the capital.

Established in 1962, STE is a public limited company specializing in storing and distributing petroleum products, including gasoline, diesel, kerosene, and aviation fuel.

Lomé will host the 3rd edition of the International Forum on Digital Intermediation and Innovation (FONI) on May 16th and 17th at the 2 Février Hotel. The organizer, Afrik Créance, said the event will shine a spotlight on the close ties between finance and digital technology in Africa. Between 300 and 1,000 participants are expected.

Focused on the theme "Intermediation, Financing SMEs for Financial, Digital, and Social Inclusion in Africa," FONI 2024 will explore innovative solutions in banking, finance, telecommunications, and insurance. It will serve as a platform from Lomé to showcase Fintech and SMEs seeking tailored financing and to create synergies with the financial sector.

Afrik Créances President Blaise Ahouantchede told the press that FONI is a unique space in Africa, regrouping financial players and Fintech to promote financial inclusion.

Afrik Créances, based in Lomé and operating in three countries in the sub-region, specializes in financial intermediation, offering services like credit brokerage, debt collection, and flow management.

Ayi Renaud Dossavi

Recent data from the BCEAO reveals that the microfinance sector in West Africa, particularly in Togo, experienced growth by the end of December 2023, despite facing some headwinds.

Credit Portfolio Expansion

The outstanding loans granted by Decentralized Financial Systems (DFS) or microfinance institutions in Togo increased by 6.5% in the fourth quarter of 2023 (quarter-on-quarter), marking an absolute increase of 22.5 billion CFA francs. Togo recorded the third-largest increase during this period, behind Senegal (+6.6%) and Benin (+9.5%), and ahead of Burkina Faso (+21.4 billion CFA francs, +6.2%), Côte d'Ivoire (+16.1 billion CFA francs, +2.6%), and Guinea-Bissau (+525.0 million CFA francs, +1.1%). However, there was a decline in Niger (-1.2 billion CFA francs, -8.9%) and Mali (-478.8 million CFA francs, -0.2%).

At the UEMOA level, the outstanding loans increased by 125.3 billion CFA francs, with an average quarterly growth of 5.1%, reaching a total of 2,561.1 billion CFA francs.

Slight Increase in Deposits

On the deposit side, clients' deposits in microfinance institutions in Togo saw a slight increase of 0.5% (+1.8 billion CFA francs in absolute value). This modest growth contrasts with the overall decline in deposits collected by microfinance institutions across the Union. Deposits decreased by 8.8 billion CFA francs (-0.4%) compared to the previous quarter, totaling 2,263.8 billion CFA francs. This quarterly decline was observed particularly in Benin (-6.3%), Côte d'Ivoire (-0.9%), Burkina Faso (-1.2%), Mali (-1.6%), and Niger (-3.1%).

Moreover, as of December 2023, nine microfinance institutions were under provisional administration within the Union, including two in Togo.

Ayi Renaud Dossavi

Moov Africa Togo (MAT) and Togo Cellulaire (TGC) were the WAEMU’s top two mobile internet service providers in 2023. The Togolese telecom watchdog, ARCEP, confirmed this on May 6.

Leading the UEMOA Region

"Both operators' internet connection performances rank them at the top two positions in the region according to the nPerf score," ARCEP noted, citing an analysis of 128 mobile operators worldwide, including 49 in Africa and 16 in the UEMOA region.

MAT and TGC were respectively first and second in the WAEMU (out of 16 mobile operators). They had the best download speeds across the region-31.6 Mbps and 27.8 Mbps, respectively, outperforming their rivals including Moov Africa Benin (23.1 Mbps), Orange Senegal (20.4 Mbps), Orange Côte d'Ivoire (19 Mbps), and Telecel Burkina Faso. (3 Mbps).

Despite their outstanding performance MAT and TGC were far from others like Orange Morocco and EMTEL in Mauritius. "Outside of Africa, MAT and TGC have performance levels well below those of many operators in the European region, which, for example, exhibit download speeds significantly exceeding 100 Mbps, three times faster than the best operator in Togo," ARCEP noted.

Moving Forward

ARCEP commended MAT and TGC for their download speeds and video streaming performance but highlighted areas for improvement in web browsing, upload speeds, and latency.

The regulator "acknowledges the performance of MAT and TGC in download speeds and video streaming as well as the high ranking of MAT and TGC at the UEMOA level," while underscoring that "the quality of experience is much less satisfactory for web browsing, upload speeds, and latency". It thus calls on both operators to "embed this new momentum in a perspective of continuous improvement" to comply with regulatory quality of service requirements and get close to top performers in Africa and worldwide.

Ayi Renaud Dossavi

Togo's new constitution was enacted on Monday, May 6, 2024, by President Faure Gnassingbé. This change stems from a constitutional amendment adopted by the National Assembly on April 19.

The new constitution introduces a transition to a parliamentary system, a pivotal shift in the country's governance. This is accompanied by the creation of the Prime Minister position and the establishment of a State Council.

The official publication of this new constitutional law in the Official Gazette of the Togolese Republic is forthcoming.

Togo recently launched a news simultaneous issue on the WAEMU securities market, seeking to raise CFA30 billion. Set to close on May 10, the operation involves issuing Fungible Treasury Bonds (OAT) and Fungible Treasury Bills (BAT).

According to the tender notice, the BATs have a par value of CFA1 million, with maturities of 91 and 364 days and varying interest rates. The OATs have a par value of CFA10,000, offering a 6.15% annual interest rate over a 3-year period.

These funds will support Togo's balanced budget for the 2024 fiscal year, which amounts to CFA2,179 billion in revenues and expenditures. In April, the country successfully carried out two issues on the regional market.

Esaïe Edoh

There are 126 licensed architects and 58 architecture firms in Togo at the moment. The National Order of Architects of Togo (ONAT) revealed this information last Thursday, May 2, presenting the 2024 Order List to the public and media.

The list catalogs licensed architects authorized to practice within Togo and the UEMOA region. Among the 126 architects, there are 20 women, 106 men, and 12 trainee architects.

Péyébinesso Limazie, ONAT board president, emphasized the importance of this list, claiming it allows clients to choose from the listed professionals for architectural services freely. "Every service seeker should select their architect from this list for project management, supervision, and nation-building. These architects are also authorized to practice within the UEMOA region," said Limazie.

Regular communication about the list reassures the public of the architects' legitimacy, according to the ONAT representative. Non-listed but active architects and architecture firms defy both public trust and existing regulations.

Established by the Togolese government in 1990, ONAT oversees licensed architecture professionals, ensuring adherence to professional and ethical standards.

Ayi Renaud Dossavi

Togo's National Independent Electoral Commission (CENI) announced the provisional results of the April 29, 2024 legislative elections, revealing a dominant victory for the ruling Union for the Republic (UNIR). UNIR secured 108 out of 113 seats in the National Assembly, claiming nearly 96% of the available seats. The opposition parties collectively won only 5 seats, with two going to the Alliance of Democrats for Integral Development (ADDI), and one each for the National Alliance for Change (ANC), Dynamic for the Majority of the People (DMP), and Democratic Forces for the Republic (FDR).

The announcement was made last Saturday evening at the CENI headquarters in Lomé and broadcast live on national television. Voter turnout was estimated at 61%, with 2,565,623 voters out of 4,203,711 registered.

These elections coincide with a significant constitutional reform shifting Togo from a semi-presidential to a parliamentary system. This change grants the Prime Minister, now holding executive power, to the leader of the majority party in the National Assembly, currently President Faure Gnassingbé of the UNIR party.

While the opposition has raised concerns about irregularities, including alleged ballot stuffing and fraud, international observers have praised the elections as free and transparent. CENI's president encouraged parties with grievances to seek legal recourse, pledging to address any issues encountered during the election. The final results are pending validation by the Constitutional Court.

Fiacre E. Kakpo