Togo will expand the production capacity of its Blitta PV plant (located 260 km from Lomé), by 30MWp. UAE-based AMEA Power will finance the extension, in line with a deal it signed with Togo on December 2, 2023, in Dubaï. The deal was signed on the sidelines of the ongoing COP28 summit. 

Besides the added capacity, AMEA will provide the plant with another battery with a minimum storage capacity of 10MWh. The support’s amount has not been disclosed at the moment.

AMEA Power, a subsidiary of Al Nowais Investments (ANI), develops the Blitta plant. It was awarded a 25-year operating permit.

Equipped with over 5,000 panels, the Blitta plant has a basic capacity of 50 MWp. At the moment, works are underway at the facility to bring this capacity to 70 MWp (ed.note: excluding the new addition). The project received a CFA21 billion financing from the West African Development Bank (BOAD) and the Abu Dhabi Fund for Development (ADFD). 

Esaïe Edoh 

The West African Development Bank (BOAD) launched its Climate Evaluation Fund (CEF) on December 4, 2023. Through the Fund, the Bank will boost financing in green projects across the WAEMU States. The new vehicle was launched in Dubaï, UAE, on the sidelines of the COP28. 

On the same day, the BOAD secured a €15 million subsidy package from the French Development Agency (AFD). The deal was sealed by BOAD boss, Serge Ekue, and Rémy Rioux, AFD managing director. The package will support the new Fund and the SONGTAABA program which is a quick-impact emergency program.  

Togolese economist Kako Nubukpo was present at the signing ceremony, as the representative of the WAEMU commission. “This Fund”, he said, “is a major tool which joins and reinforces the regional armada of tools provided to our member States to help them mobilize needed financings, matching our ambitions for sustainable development.” 

It is worth noting that the Council of Ministers of the WAEMU enacted the creation of the newly launched Climate Evaluation Fund on September 22, 2023.

Agence Française de Développement (AFD) will pump about CFA35 million into nine (9) environmental projects in the Greater Lomé District, Togo. The sports associations and federations behind the projects were revealed last Wednesday by the Autonomous District of Greater Lomé (DAGL).

The projects, filtered through a call for projects, aim to get the people of all 13 communes of the Greater Lomé district involved in the management of the urban environment through the practice of sports.

"Through this initiative, the DAGL intends to support projects that implement an ambitious strategy to promote sporting activities within its territorial jurisdiction. These projects are based on actions to raise awareness among the population, of the good behavior to be observed in waste management, which also integrates gender aspects," said Tafèyinam Tagba Tchalim, Acting Secretary General of the DAGL.

The call for projects through which the projects were selected falls under the fourth component of the Lomé Urban Environment Project (PEUL III). The project is funded by the AFD and steered by the DAGL. It focuses on improving waste management and treatment in the Greater Lomé district.

Esaïe Edoh

The Togo-Kazakhstan cooperation will be 10 years old in 2024. Ahead of the anniversary, the leaders of both countries recently met in Astana, Kazakhstan. 

The two presidents, during the meeting, talked about boosting cooperation between their countries, on the political, commercial, economic, cultural, and humanitarian fronts, especially. 

"We have enormous opportunities to give new impetus to our cooperation for the benefit of our peoples," said the Togolese President, Faure Gnassingbé.

"We are ready to establish closer contacts with Togo. We fully support this country's desire to establish mutually beneficial cooperation," President Kassym-Jomart Tokayev declared for his part. The two men made the comments after a meeting where they discussed issues relating to agriculture, new technologies, joint development of mineral resources, and investment.

Bolstering trade relations

The two countries, which have agreed to strengthen ties in various areas, aim to improve their trade relations; a goal that requires adopting certain measures.

Indeed, according to the Kazakh president, his country "has enormous potential for exporting grain to Togo". The leader invited Togo to join the Islamic Organization for Food Security, a body whose creation his country initiated. Tokayev said joining the group would help enhance Togo’s agricultural potential.

Kazakhstan sets sights on Togo's port and subsoil

"Kazakhstan and Togo are rich in natural resources", said the Kazakh leader, adding that the two nations can collaborate "in the exploration, production, and development of deposits of iron, phosphate, bauxite and other rare earth minerals".

Already, Kazakh entrepreneurs are positioning themselves to explore opportunities in Togo's mining industry.

"Kazakhstan and Togo can become strategic partners. Your country has enormous economic potential. Our delegation would like to expand cooperation in the trade, economics, mining, agriculture, transport, and digitalization sectors," said the Togolese President. 

The two countries are also exploring potential investments in the port of Lomé. 

Kazakh universities open to Togolese students

In addition to these fields, both sides want to cooperate in the cultural and humanitarian sectors. Already, the Kazakh government has launched scholarship programs for Togolese college students who would like to study in Kazakhstan.

To make the two presidents' stated ambitions a reality, Togolese entrepreneurs are invited to next year's Astana International Forum, "to familiarize themselves with Kazakhstan's economic potential."

Esaïe Edoh

Togo recorded an inflation rate of 6.0% in October 2023, against 6.2% the month before. The data was published by the country’s Institute for Statistics, Economic and Demographic Studies (INSEED). The general price level in October decreased by 2.0% compared to July 2023, quarterly. This is mainly due to the regression of the "Food products and non-alcoholic beverages" consumption function index (-6.7%).

However, some categories recorded price increases, notably "Restaurants and Hotels" (+2.1%), "Education" (+3.8%), and "Clothing and Footwear" (+0.7%).

This was mainly due to price increases in several categories, including "Food products and non-alcoholic beverages" (+1.0%), "Restaurants and Hotels" (+2.0%), "Education" (+3.9%), "Miscellaneous Goods and Services" (+0.3%), and "Leisure and Culture" (+0.5%).

The general price level rose by 5.0% compared with October 2022.

Ayi Renaud Dossavi

Togo’s President Faure Gnassingbé has been in Dubai since November 29 with many other world leaders for the ongoing COP28 summit. The event started on November 30 and will end on December 12, 2023.

As soon as he arrived, Gnassingbé met his Emirati counterpart, Sheikh Mohamed Bin Zayed El Nayan. They reviewed their countries' bilateral relations and discussed possible cooperation opportunities in strategic sectors.

Read also: Ahead of COP28, Togo unveils its priorities regarding climate change

Togo has its own office and pavilion at the event’s venue. There, the West African delegation seeks new partners and showcases various projects and initiatives in agroecological practices and water management. The delegation also highlights the country's policy of building a climate-resilient, low-carbon economy.

The COP28 offers African nations a chance to defend their interests, regarding climate change and climate justice. This year, these countries call out polluting countries on their 2009 commitment to provide $100 billion a year in climate financing up to 2020. They also demand more support to boost their clean energy output–wind and solar especially– to meet their needs. Almost half of the continent’s population, 600 million people (out of 1.4 billion), does not have electricity.

Other issues Africa brings to the table include introducing a carbon tax and restructuring the international financial system for fairer access to the investments needed for sustainable development. African countries also want to be less dependent on fossil fuels and boost local processing of raw commodities.

BOA Togo, a subsidiary of the Bank of Africa Group, recently announced a CFA15 billion financing to empower local businesswomen. The lender inked last Wednesday, Nov. 29, two partnership agreements with two associations: The AFCET and LIM IMPACT. 

The AFCET regroups Togo's women entrepreneurs while LIM IMPACT promotes equal opportunities for the Togolese youth and women. 

The AFCET will receive CFA1 billion to help its members expand within and outside Togo’s borders. LIM IMPACT will use the remaining CFA500 million to support its activities. 

Commenting on the package, Valentine Sama, boss of the AFCET, said: “This is an opportunity for our sisters to develop innovative projects and increase their impact on the local economy.”

According to Youssef Ibrahimi, MD BOA Togo, the two agreements will cover a year and could be extended.

The financing came from a $60 million facility that the BOA Group obtained from the International Finance Corporation (IFC) to cover half of the risks on a $120 million loan portfolio. With the IFC facility, BOA will support SMEs in eight African countries, including Togo. Half the funds are earmarked for women-led businesses and projects to combat climate change.

Esaïe Edoh 

There has been a major change in the shareholding of Netis Group, the telecom group that provides fiber optic for Canalbox (GVA) and Togocom in Togo.

Netis’ majority stakeholder, Enko Capital, confirmed it sold its stake in the group to a consortium of investors. The latter include Amethis, the investment fund connected to the Rothschild family, Africinvest, the equity firm, and other big names like the AFD’s Proparco and the World Bank’s IFC.

Launched in 2009, Netis currently covers 14 countries, including Togo. In 2018, Enko Capital joined the group’s capital, accelerating its growth and pushing it among the top fiber optic designers and builders in Africa.

Netis has been operating in Togo since 2017. It provides fiber optic to Canalbox (GVA) and Togocom. The two rivals are the only firms that offer this service in the country.

Fiacre E. Kakpo

Togo hosted the 37th session of the Enhanced Integrated Framework (EIF) Council this week.  The meeting focused on the program’s implementation in participating countries.

The EIF was created in 1996 to help least-developed countries implement trade-related projects. Among others, it finances high-potential commodity chains such as soy, shea, and cashew nuts.  Togo joined the Framework in May 2008. 

According to the CIR, since joining it, the West African member has progressed on various fronts. For example, its production of soy, shea, and cashew has grown substantially over the period.

“Production has risen substantially, from 25,000 tonnes in 2015 to 300,000 tonnes in 2022, an increase of over 1000%,” said Abé Talim, who heads the EIF’s focal point in Togo.

The Togolese minister of grassroots development, Myriam Dossou-d'Almeida, attended the meeting in Lomé. On the occasion, she stressed the country’s need for support, to ensure “the consolidation and sustainability of the program’s achievements”. “The training and approval of other Category 2 projects on the competitiveness of Togolese products, notably sesame, tomato, and cassava, are essential for the future.”

Ahead of the session, Togolese Prime Minister, Victoire Tomegah-Dogbe, received on Nov. 28 an EIF delegation to take stock of the Framework’s actions in Togo.

Ayi Renaud Dossavi

Togolese President Faure Gnassingbé was in Astana, Kazakhstan, on an official visit on November 28. There, he met his counterpart Kassym-Jomart Tokayev, and the two discussed bolstering the bilateral cooperation between their countries.

The two states will, concretely, enhance their economic relationship, focusing on the mining, digital, cultural, and agricultural sectors.

Gnassingbé presented his host with Lomé's economic development strategy, essentially based on public-private partnerships. He also mentioned the country’s favorable business climate, effective agricultural policy, and improvements relative to digitalization.

"Our government roadmap, which enshrines our development vision, relies on the private sector to finance 50% of the necessary investments. And the private sector will only come to invest if it finds an environment favorable to investment," Faure Gnassingbé told President Tokayev. 

President Gnassingbé also highlighted the climate of peace and security in Togo.  "We are very attached in our country to peace and tolerance. And in this area, for a long time, our country has set an example despite the menace of terrorism and the sometimes communal conflicts to which our sub-region is prey,” he said.

For President Tokayev, the time is ripe for getting closer to Togo since Kazakhstan is currently on a rapprochement mission with African countries.

"Our countries are far apart, but we are ready to undertake multi-sectoral cooperation. We have many opportunities to strengthen our partnership in trade, agriculture, culture, technology, mining, education, and other areas," said the Kazakh president.

The two leaders plan to sign basic bilateral cooperation agreements, create a framework for consultation and exchanges "and stimulate their mutual development and partnership mechanisms in the environmental field".

Presidents Gnassingbé and Tokayev had a call last October.

Esaïe Edoh