Togo First
Togo: Major electricity project launched in Sokode, central region
Togo just launched a project to strengthen energy distribution capacity in the central region. The project aims to enhance access to electricity in major inland cities.
Led by Mila Aziable, Minister Delegate for Energy, and her counterpart Foli-Bazai Katari for the environment, the initiative targets urban and peri-urban areas such as Dapaong, Kara, Sokodé, Atakpamé, Kpalimé, and Aného.
The project entails laying 34 km of 20 KV medium voltage network, constructing 61 MT/BT distribution substations, and installing 360 km of low-voltage (BT) network.
About 10,000 new clients, including households and income-generating structures, will also be connected to the power grid within the first year after infrastructure construction.
The Minister Delegate also inaugurated the Tinga Fund for the Central Region. This mechanism offers beneficiaries access to electricity with an initial payment of 1000 CFA francs, with the option to pay the balance over four to 10 years, depending on income level.
The Tinga Fund aligns with the Togolese government's goal of achieving universal access to electricity by 2030, leveraging repayable grants to facilitate financial accessibility to this resource.
Ayi Renaud Dossavi
Togo: 2nd Edition of FoPAT begins, with a focus on agricultural modernization
The second edition of the Agricultural Producers Forums (FoPAT) launched today, March 11. It ends next month, on April 12. This year, the nationwide event focuses on the theme "Together for the Modernization of the Agricultural Sector."
The first phase of the FoPAT edition is hosted by the Maritime Region, in Tsévié. Farmers from the Maritime Region will gather for two days to discuss the contribution of agriculture to the country's economic development, how the first edition impacted the sector, and related opportunities
A session with the President of the Republic is scheduled for the closing of the meeting. Farmers will share their concerns and contributions to agricultural development with President Gnassingbé.
Organized by the Ministry of Agriculture, the FoPAT’s goal is to get producers more involved in projects and programs that contribute to agricultural development in Togo.
Esaïe Edoh
Togo: Ousmane Diagana visits some World Bank-funded projects in the Kara region
Infrastructure projects funded by the World Bank in the Kara region are almost done. World Bank VP Ousmane Diagana and Togolese PM, Victoire Tomegah-Dogbe recently visited the sites.
The projects include the construction of a 40-meter-long bridge consisting of three spans, each measuring 13.3m in length and 13.60m in width, along with an access road connecting Kara to Kabou.
The works were co-financed by the World Bank and the government of Togo. The Bank backed them with CFA5 billion, under the Infrastructure and Urban Development Project (PIDU). Among others, the PIDU aims to improve access to basic infrastructure and services in underserved neighborhoods in Lomé, Kara, and Dapaong.
"The Kpeleouwayi bridge in Kara underscores the importance of infrastructure in driving growth by connecting communities. The new school cafeteria will ensure the well-being of students in a clean environment," Diagana noted.
Ousmane Diagana and Tomegah-Dogbe visited the sites on March 9.
Esaïe Edoh
Togo: Bonkoungou Distribution launches car reservation platform BKG Speed
Bonkoungou Distribution (BKG) launched an online car reservation service in Lomé on March 7, 2024.
BKG Speed offers rides, food, and parcel delivery across the country. The platform relies on 500 brand-new DODGE cars and a network of experienced drivers.
“Our goal is to revolutionize the on-demand transportation system, provide added value to our customers, and actively contribute to job creation and economic growth in Togo,” said Prisca Somda, Communications Manager at BKG SPEED.
BKG, the company behind the platform, is owned by Mahamadou Bonkoungou, a Burkinabe mogul with various assets in Togo. BKG runs the Liz aviation airline route (Lomé-Ouagadoudou), and the International Business Bank (through IB Holding). Ebomaf, which Bonkoungou also owns, oversees the construction of the Lomé-Kpalimé road.
In the car reservation market, BKG Speed will compete against Gozem. The Super App has an online booking service for motorcycle cabs, cars, and tricycles, which also offers e-commerce and delivery services, among others.
Esaïe Edoh
Togo: AfDB backed PAIFFV women empowerment project with $990,000 since launch
The African Development Bank (AfDB) pumped over $990,248 in Togo’s Vulnerable Women's Financial Inclusion Support Project (PAIFFV). This is a project to empower over 13,500 vulnerable women across the country.
The pan-African lender pointed out that it extended more than 15,000 loans as part of this program. Its support, the AfDB claims, helped beneficiaries set up 8,072 micro and small businesses, with each micro and small enterprise creating an average of 1.2 jobs.
The PAIFFV was launched in 2016 with the primary goal of fostering the socio-economic inclusion of vulnerable groups, especially women with disabilities, those suffering from obstetric fistula, victims of trafficking and sexual exploitation, low-income single mothers, and women porters.
Initially, the project was launched in the Maritime and Kara regions but was extended to the Savanes region in 2022.
The project cost $2.08 million (approximately 1.2 billion CFA francs) overall. The AfDB provided $1.8 million and the government disbursed $225,685. The initial number of beneficiaries targeted was 10,000 women.
Esaïe Edoh
WAEMU Securities: Togo launches new issue, seeks CFA35 billion
Togo has launched a new simultaneous issue of fungible treasury bonds and bills (OATs and BATs, respectively) on the WAEMU market. Lomé seeks CFA35 billion through the operation which closes on March 15.
The BATs have a par value of CFA1 million, mature over 378 days, and have multiple interest rates. Lomé hopes to secure CFA10 billion via these securities and CFA25 billion through the OATs. The latter has a par value of CFA10,000. They mature over 3 and 5 years, at respective rates of 6.15% and 6.4%.
Lomé will use the proceeds to finance its 2024 budget which stands at CFA2,179 billion.
This year, Togo aims to raise CFA607 billion on the WAEMU securities market.
Esaïe Edoh
Togo: World Bank Vice President for West and Central Africa to celebrate March 8 in Lomé
Ousmane Diagana, Vice-President of the World Bank for West and Central Africa, is expected in Lomé today, for a three-day visit.
During his stay in Togo, he will participate in the launch on Friday, March 8, 2024 (International Women's Day), of the new World Bank report on "Women, Business, and the Law." The report shows that Togo has the most favorable legal framework for women in Africa in terms of professional development.
Diagana will also meet with national authorities, and discuss the Government's Roadmap, as well as the World Bank's support for its implementation.
At present, the World Bank's portfolio in Togo has exceeded one billion dollars, covering around fifteen projects spanning various economic sectors.
Ousmane Diagana was last in Togo in May 2023, for a high-level roundtable on fertilizers and soil health in West Africa and the Sahel.
9th Pan-African Congress: Mali to host next preparatory conference
Mali will host the upcoming regional preparatory conference for the 9th Pan-African Congress. Scheduled for May 14 and 15, the event is set to take place in Bamako, the capital, under the theme "Diasporas, Afro-descendants, and Development".
The conference will mostly focus on building strong bonds between West African States and their diaspora. Clear proposals for the next Pan-African Congress in Lomé will also be covered.
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After Bamako, five other preparatory conferences will take place in different regions, leading up to the 9th Pan-African Congress in Lomé. The latter will take place next October in the Togolese capital.
Togo will be the fourth African country to host the Congress. Tanzania, Uganda, and South Africa hosted the latest editions. The first five editions were hosted in Europe and the U.S. (four in the former and one in the latter).
BOAD approves loan restructuring for 2 Février Hotel
The West African Development Bank (BOAD) approved the restructuring of a loan granted in 2015 for the renovation and operation of the 2 Février Hotel in Lomé. The Bank gave its approval in a board meeting last Monday.
The BOAD granted the loan to Kalyan Hospitality Development Togo (KHDT SAU), a Mauritian company, to rehabilitate the recently nationalized complex.
Under Kalyan's leadership, the hotel morphed into a hotel that meets international standards of luxury and comfort. Left abandoned for several years, the hotel reopened in April 2016 under the Radisson Blu Hotel du 2 Février brand.
Shortly after, tensions arose between Kaylan and the State, leading to a change in concessionaires. According to reports, the tensions led to the withdrawal of Radisson, formerly Carlson Rezidor, the hotel operator that provided the brand image to 2 Février. This raised concerns about the hotel’s management and Kalyan's affiliations.
After Radisson exited the project, Dubai-based Emaar Hospitality Group stepped in. It signed an agreement with Kaylan to make the 2 Février a top-class hotel in Togo and sub-Saharan Africa.
The hotel again changed names, becoming the Address Hotel 2 Février. The facility was doing well post-Covid with revenues increasing steadily. Still, its old demons remain and it must face them. These include a debt of over CFA28 billion which the BOAD arranged in 2015 with other lenders such as the EBID, BOA Togo, UTB, or BSIC.
The BOAD, it is worth recalling, had disbursed CFA10 billion in 2015 for the rehabilitation project. Again, in September 2018, it came to the hotel's rescue when Emaar Hospitality Group launched a series of "comfort works." At the time, the Bank backed the works with CFA4 billion.
Fiacre E. Kakpo
Togo: Government wants craftsmanship to become a pillar of economic development
The Minister of Trade, Rose Mivedor, held a meeting last Tuesday, March 5, with craftspeople of the Grand Lomé Autonomous District (DAGL). The official covered strategies to get them more involved in Togo’s economic development.
Mivedor urged her audience to better collaborate with the government, both for the sector and the national economy’s development.
"I would like to urge you as a Chambre de métier to continue working on the missions that the State has assigned to your structures, for the growth of your activities," she said.
Minister Mivedor also informed that the State would provide subsidies to the Chambre de métier and finance craftspeople’s projects.
In 2019, Lomé launched the International Craftmanship Marke (MIATO) to valorize local and African craftsmanship.