Public-private partnerships and States’ contribution to these partnerships are essential for Africa’s development. Togolese President, Faure Gnassingbé, underscored the importance of this partnership last Wednesday, at the opening of the African International Summit (AFIS). 

"Development is mainly driven by private sector financing, the dynamism of fintech, dynamic agricultural and industrial sectors, reducing internet access costs, a young population, rapid growth, and increasing urbanization," Gnassingbé said.

The private sector thus contributes to lower inflation and higher growth. On this basis, the leader called on private players to fully play their part in financing development policies in Africa.

Commenting on the State’s role in the process, President Gnassingbe said it should “reassure the private sector while enhancing investment opportunities”. "My country has moreover always been resolutely committed to this path, our ambition being to have half of our Roadmap 2025 financed by private investment,"  he added.

The African Finance Summit (AFIS) was recently held in Lomé, Togo, on November 15 and 16. 

Esaïe Edoh 

Securitization is an alternative for financing African economies. Sani Yaya, the Togolese minister of finance, expressed this view last Thursday, on the final day of the African Financial Industry Summit (AFIS) in Lomé.

Yaya stressed that securitization is indispensable, for the development of businesses, financial institutions, and government projects.

He added that Togo is a pioneer when it comes to securitization, in West Africa. In 2016, the country carried out its first securitization operation, falling into the steps of Ivory Coast and Senegal. Lomé raised CFA150 billion through the operation.

Togo’s latest operation was carried out by Orabank-Togo. The lender completed a receivables securitization of CFA25 billion, a first for one of the bank’s countries.

Several eminent figures in the African financial sector attended the AFIS. These included Edoh Kossi Amenounve, Managing Director of the WAEMU stock exchange, the BRVM, Serge Ekué, President of the BOAD, and Sergio Pimenta, Vice President for Africa at the IFC (World Bank).

Securitization allows financial institutions, companies, and governments to raise capital by transforming their assets, such as mortgages, trade receivables, or real estate assets, into securities tradable on financial markets.

 Esaïe Edoh

The Organization of African, Caribbean, and Pacific States (OACP) and the European Union (EU) signed a new cooperation agreement last Thursday, Nov. 16. Inked in Apia, Samoa, the new deal defines the new global legal framework for relations between the two parties for the next 20 years. It substitutes the Cotonou agreements signed in 2000. 

Finalement , c est fait. Après des mois de négociations, l’accord entre les Etats d Afrique des Caraïbes et des pacifiques et l Union Européenne appelé accord de Samoa qui succède à l’accord de cotonou est signé. Merci à tous et à toutes. Le processus a été laborieux et par… pic.twitter.com/l5Enb7Cteg

— Robert Dussey (@rdussey) November 16, 2023

Commenting on the milestone, Robert Dussey, Togo’s Minister of foreign affairs and Chief negotiator of the ACP countries said "After months of negotiations, the agreement between the African, Caribbean and Pacific States and the European Union, known as the Samoa Agreement, which succeeds the Cotonou Agreement, has been signed."  "The process has been laborious and, at times, difficult, but what is essential and what matters in the end is that the agreement is reached. (...) Now, let's work for its ratification according to each of our legislations," Dussey added.

Recall that the OACP negotiating mandate was handed over to Togo at the end of May 2018. The new agreement covers 79 countries (47 African countries, 16 Caribbean countries, and 15 Pacific countries, as well as the Republic of Maldives) and the European Union. In all, their population totals 1.5 billion people.

A paradigm shift

The agreement, which aims to strengthen the capacity of ACP and EU countries to address global challenges together, covers six priority areas in particular: democracy and human rights, sustainable economic growth and development, climate change, human and social development, peace and security, and migration and mobility.

In the context of these negotiations, Robert Dussey recalled Africa's repeated calls for a "paradigm shift" in Europe-Africa relations, amidst major geopolitical changes in Africa and worldwide. "Africa is going through a deep transformation in a world that is itself changing, and Europe must take this new situation into account in its new relationship with Africa," Dussey declared.

Ayi Renaud Dossavi

Togolese authorities collected CFA729 billion in taxes and duties in the first three quarters of 2023. The country’s general directorate for budgeting and finance revealed the figure in a report "Rapport d'exécution du budget de l'Etat exercice 2023 situation à fin septembre". 

While the amount is about 20% less than the authorities had expected to collect over the period–CFA912 billion–it exceeds last year’s performance by nearly 13%. Indeed, the country had mobilized CFA647 billion in January-September 2022.

The tax authorities attribute the increase to a rise in VAT-taxable sales (8.2%) and imports by value (12.8%).

Other factors that contributed to the increase include the spatial reorganization of tax services, with the creation of tax operations offices in each commune of Greater Lomé and in each prefecture in the interior of the country, as well as the use of data from the tax census carried out throughout the country in 2022. There is also the reinforcement of tariff specification codes for better control of the customs value of goods.

In detail, the tax revenues collected in the past three quarters are broken down into liquid revenues, valued at CFA590 billion, and non-liquid revenues, valued at CFA139 billion.

Esaïe Edoh

Togo will host the 18th edition of the International Fair of Lomé next week, from November 22.  Placed under the high patronage of President Faure Gnassingbé, the event ends on December 3, 2023. "Connecting markets for strong trade growth" is the theme of this year’s edition.

"This theme is an avenue for strengthening economic ties between participating countries and sparks better exploitation of the assets of the African Continental Free Trade Area (AfCFTA) for economic and sustainable growth of member states," according to the Ministry of Trade.

The Centre Togolais des Expositions et Foires de Lomé (CETEF), which hosts the event, is also sporting a new visual identity in the run-up to this international meeting, considered to be the rendezvous of "all opportunities" in Togo.

The African Guarantee Fund (AGF) will provide Lomé-based Ecobank with additional support to better finance African SMEs. The two recently signed a $200 million risk-sharing agreement in Lomé to this end. The deal was sealed this week during the Africa Financial Industry Summit (AFIS).

The new agreement bolsters the partnership between the two pan-African institutions.

"Our strengthened partnership with the African Guarantee Fund marks an important milestone in our commitment to supporting SMEs across Africa with affordable financing. Through this partnership, we are taking bold steps to improve green finance and financing for women-led businesses", declared Jeremy Awori, CEO of Ecobank Group. "In doing so, we aim to eliminate stringent and restrictive collateral requirements, which particularly hinder access to credit for women-led businesses", he added.

The new partnership now covers 27 countries within Ecobank's African network, offering 50% coverage for eligible SMEs across all of these target markets. The AGF guarantee was first issued in 2013; $50 million for seven countries. In 2018, the facility was extended to seven more countries and amounted to $230 million.

By teaming up, AGF and Ecobank aim to assist African SMEs to access loans more readily. Indeed, key points of the agreement include enhanced guarantee coverage to 75% for the financing of women-led businesses and green projects, a significant increase in Ecobank's lending capacity for SMEs, and the mitigation of credit risks associated with SME lending. This collaboration promotes financial inclusion by directing funds to businesses, including those in underserved areas, contributing to economic growth, job creation, and sustainable development in sub-Saharan Africa.

"This partnership will catalyze nearly a billion dollars in financing for SMEs, which are the real engines of growth in African economies," said Jules Ngankam, Group Managing Director, AGF, at the AFIS Summit.

The countries covered by the partnership are Togo, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo, Côte d'Ivoire, Equatorial Guinea, Gabon, Ghana, Guinea Bissau, Guinea Conakry, Kenya, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Sudan, Tanzania, Uganda, Zambia, and Zimbabwe.  

Ayi Renaud Dossavi

The Ministry of Health of Togo is currently investigating several cases of dengue fever reported across the country. At present, five cases have been reported in the maritime region, one in the Plateaux region, and two in the Savanes region.

"Investigations are underway to search for possible cases in the community to facilitate their early management," said Minister Moustafa Mijiyawa.

The government has put in place an action plan, including the organization of case management in health facilities, the strengthening of early detection through laboratory confirmations, and raising public awareness about preventive measures.

Dengue fever is an infectious disease transmitted by mosquito bites. Its symptoms are non-specific, and they include fever, intense weakness, headache, joint and muscle pain, nausea, vomiting, and rash. However, in severe cases, bleeding and other major health complications can occur.

Meanwhile in Burkina Faso…

It should be noted that the Togolese Ministry of Health had already warned about the disease last October, mentioning the disease’s presence in Burkina Faso. Indeed, recent reports indicate that 50,000 people may have been infected, and 214 succumbed to Dengue in the neighboring country. According to available data, a third of the deaths (48 people) were recorded between October 9 and 15.

Ayi Renaud Dossavi

The Organisation Internationale de la Francophonie (OIF) deems Togo's electoral register "sufficiently reliable". This means the country is well equipped to hold its upcoming regional and legislative elections “in an environment of trust”. The statement was made by Désiré Nyaruhirira, Special Political and Diplomatic Advisor to the Secretary General of La Francophonie.  

Nyaruhirira’s comments are based on the conclusions of an OIF audit of the electoral register. The audit was commissioned by the Independent National Electoral Commission (CENI). The study’s conclusions were officially transmitted to CENI president, Dago Yabré, in Lomé on November 15.

"After the verifications and analyses carried out, the experts have delivered reassuring conclusions on the quality of the Togolese electoral register…In summary, I can say on behalf of the experts that the Togolese electoral file is sufficiently reliable to enable the upcoming regional and legislative elections to be held in conditions of confidence," Désiré Nyaruhirira said.

Based on the audit’s findings, OIF experts consider Togo a model regarding inclusion.

The audit was carried out from October 20 to 27, 2023, by three experts (a computer scientist, a legal expert, and a statistician-demographer).

Togo, according to its government, is set to hold its legislative and regional elections before the year ends. 

Esaïe Edoh