Togo First
Togo: Emmanuel Adebayor Launches Social Housing Project in Lavié
Sheyi Emmanuel Adebayor,ex-captain of the Togo national football team, is developing a social housing project in Lavié. Adebayor, a committed social investor since retiring, unveiled the project on his official Facebook page. He also discussed the project with Prime Minister, Victoire Tomégah Dogbé, over the past weekend.
Though specific details about the project remain undisclosed, the promoter has confirmed that the housing units under construction in Lavié (approximately 120 km northwest of Lomé) are intended for students receiving training in agro-industry in the locality.
"I am delighted to announce that the student housing project in Lavié is progressing rapidly. These new houses, once completed, will provide a comfortable and secure environment for the future leaders of Togo's agro-industry. After all, a good place to live is essential for nurturing bright minds"; Adebayor said.
Je suis ravie d'avoir eu une conversation de qualité avec @E_Adebayor , au cours de laquelle il m'a parlé de la préparation de son jubilé et de ses projets. Nous sommes disponibles pour collaborer afin de garantir le succès de ces initiatives. pic.twitter.com/t0UfyVyiMN
— Victoire Dogbe (@DogbeVictoire) April 13, 2024
This construction project aligns with other initiatives launched by the SEA Foundation, founded by Adebayor in 2022. In partnership with the United Nations Development Programme (UNDP), the Foundation has committed to providing agribusiness training to over 1000 young people within three years.
The primary objective of this project is to generate employment opportunities for the target group. The initiative is divided into three components: training, establishing clusters of leading agribusiness owners, and supporting the development of agribusinesses.
Esaïe Edoh
Chinese firm Faw Trucks Enters Togolese Market with Tailored Commercial Vehicles
Faw Trucks, the renowned Chinese commercial vehicle brand, is set to make its debut in the Togolese market. Togo Best Motor Sarl (TBM), the authorized dealer of Faw Jiefang in Togo and Benin, is introducing two new vehicles in this West African nation.
These vehicles, namely the tractor truck and the dump truck, are available in 6×4 and 8×4 configurations. They are tailored for logistics, general goods transportation, and heavy material hauling like sand and gravel.
Yang Li, the CEO of TBM, highlighted that these vehicles have been meticulously customized to meet the specific requirements of the Togolese market. This customization was the result of a comprehensive study conducted between 2018 and 2019, which included assessments of road infrastructure and local climatic conditions, particularly in Côte d’Ivoire and Ghana.
In Togo, TBM joins other established dealers including Diwa International, Van Vliet Automotive Togo, Sinocar, Japan Motors, Heavymat Togo, and SMT TOGO.
Ayi Renaud Dossavi
Togo Digital Agency Hosts Lomé Fintech Conference 2024 This Friday
The Togo Digital Agency (ATD) hosts the Lomé Fintech Conference 2024 this Friday, April 19th, in Lomé. The event, organized by the Ministry of Digitalization's operational arm, focuses on innovation, sharing, and discovery in the Togolese digital ecosystem at ATD's headquarters.
Key industry players gather to discuss business opportunities within the Togo Digital Strategy 2025. The agenda includes a "crossed talk," panels, workshops, and a networking session for exchanges and synergies. Deloitte and GIZ are among the expected participants.
On the same date, awards will be given to winners of the 228 Code Challenge, a coding competition by ATD. Register for the Lomé Fintech Conference here.
Ayi Renaud Dossavi
WAEMU: Togo launches new simultaneous issuance, seeks 30 billion
Togo is actively seeking to raise CFA30 billion on the West African Economic and Monetary Union (WAEMU) public securities market through a simultaneous issuance of fungible treasury bonds (OATs) and fungible treasury bills (BATs), which will close on April 26th.
As detailed in the tender document reviewed by Togo First, Lomé plans to secure CFA15 billion through BATs with a nominal value of CFA1 million, multiple interest rates, and a maturity of 364 days. The remaining CFA15 billion will be raised through OATs, featuring a nominal value of CFA10,000, an annual interest rate of 6.15%, and a maturity of three years.
The coastal nation aims to utilize these funds to finance its 2024 budget, which is balanced at CFA2,179 billion.
Esaïe Edoh
Lomé Autonomous Port Unveils 24/7 Call Center: Boosting Client Communication and Efficiency
The Lomé Autonomous Port (PAL) launched its Call Center on April 16, 2024, marking a significant milestone in enhancing its connection with users. The Call Center, accessible via the hotline 8818, is a 24/7 platform for clients to discuss transactional and operational issues with the port authorities.
Equipped with 10 booths and staff trained to handle specific inquiries, the Call Center provides information on ship schedules, import-export goods, and invoice payment tracking. It also addresses complaints and grievances, ensuring prompt assistance in goods transportation and transit by alerting relevant port teams.
The PAL views the Call Center as a crucial initiative to strengthen ties with commercial partners and economic operators. By offering easy access to information and support services, the PAL aims to promote the growth and success of the business community.
The Togo Business Climate Unit and the port management supported the communication facility, which received financial backing from the World Bank. In the future, the Call Center plans to incorporate modern communication tools such as email, SMS, and social media platforms (WhatsApp, Telegram, etc.), serving as a unified point of entry and information processing for the port platform.
Esaïe Edoh
Togo: Ministry of Trade launches local study on digital markets
The Togolese Ministry of Trade and Local Consumption is conducting a comprehensive study of the country's digital markets. For this project, the Ministry collaborates with the Economic Community of West African States' Regional Competition Authority (ARCC).
The study aims to evaluate competition and consumer welfare in Togo’s digital industry. According to the ARCC, it will provide valuable insights into this rapidly evolving market driven by innovation and shifting consumer preferences.
To gather crucial data, the Ministry of Trade urges users of e-commerce and digital financial platforms to fill the forms it issued as part of the study. Both e-commerce and digital financial platform users are encouraged to participate. The deadline to fill the forms is April 26, 2024.
The study falls under a larger project aimed at implementing regional competition regulations.
Ayi Renaud Dossavi
Legislative and Regional Election: ECOWAS sends a delegation to Togo
The Economic Community of West African States (ECOWAS) has dispatched a delegation to Togo, in the framework of the upcoming regional and legislative elections.
The seven-people team is led by Maman Sambo Sidikou, former African Union Representative to Mali and the Sahel. They will conduct a pre-election assessment, in line with community texts, and will, to this end, engage with stakeholders in the electoral process.
"This includes officials from state institutions and agencies, political parties, the election management body, civil society organizations, media, and partners," as stated in a press release on April 16, 2024.
After meeting with these stakeholders, the ECOWAS delegation "will submit a detailed report and recommendations to the President of the ECOWAS Commission. And the President will decide on appropriate measures to be taken, including the deployment of an Electoral Observation Mission (EOM) for the legislative and regional elections," the press release added.
The delegation will stay in Togo until April 20, nine days before the vote scheduled for April 29.
Togo: State backs ongoing political campaign with CFA650 million
A total of CFA650 million has been disbursed for the ongoing political campaign ahead of the April 29 regional and legislative elections in Togo. The news was disclosed on April 15 by the Ministry of Territorial Administration, which made the disbursement.
Of this sum, 325 million FCFA will fuel legislative election campaigns, while the rest will bolster regional contestants. Notably, 65% will be evenly divided among validated candidate lists, with the remaining 35% distributed based on vote shares, favoring lists securing at least 10% of votes.
The Ministry of Territorial Administration and the Ministry of Economy and Finance "assure readiness to facilitate fund disbursements, offering confidence to political players".
Esaïe Edoh
Togo: Campaign for upcoming regional and legislative polls begins
Togo has launched into a two-week campaign frenzy ahead of its legislative and regional elections, commencing nationwide on April 13.
With over 2,300 candidates contending for the 113 deputy seats and 284 competing for regional council positions, the political landscape is bustling with activity.
The campaign will wrap up on Saturday, April 27th, 2024, 48 hours before the polls on Monday, April 29th, 2024. Notably, the Togolese Armed Forces, security forces, paramilitary forces, and operational reserve will vote early on Friday, April 26th, 2024.
These electoral deadlines were slightly postponed amid discussions surrounding proposed constitutional changes by the National Assembly. These changes aim to transition the country to a fifth republic and a parliamentary system. The revision has undergone national consultations led by Assembly members across the nation, fostering ongoing public discourse.
Ayi Renaud Dossavi
Togo: World Bank Forecasts 5.1% Economic Growth in 2024
The Sub-Saharan African economy is poised for a rebound this year, with projected growth rates of 3.4% and 3.8% in 2025, marking an upswing from the 2.6% recorded in 2023. These figures were unveiled last week in the World Bank’s latest Africa’s Pulse report..
According to the report, the anticipated growth will be underpinned by a surge in private consumption coupled with a downward trend in inflation. However, despite this positive outlook, the World Bank cautions that inflation, while expected to dip from 7.1% in 2023 to an average of 5.1% in 2024, will remain high. Moreover, many African governments grapple with persistent challenges related to external liquidity and unsustainable debt levels, despite a slowdown in the growth of public debt.
Turning the focus to Togo, the World Bank authors project a growth rate of 5.1% in 2024. This optimism is tempered by efforts aimed at bolstering fiscal management amidst weak external demand and regional uncertainties. Meanwhile, the Togolese government remains committed to curbing inflation, after this indicator reduced from 5.3% in 2023 to 2.7% in 2024.
Ayi Renaud Dossavi