Togo First
Togo: Lomé to Host the 5th FERIN Fair in November, with Focus on Corporate Social Responsibility
The Togolese capital, Lomé, will host the 5th edition of the FERIN Fair ( Salon de Facilitation des Échanges et Revalorisation des Investissements) on November 5, 2023, Terreau Fertile, the association behind the event announced on September 13.
"Towards inclusive CSR: Engaging businesses for sustainable social impact in Togo" is the theme of the upcoming event, and it will gather public institutions, businesses (small, medium, and large), investors, banks, and students.
The fair will feature a panel on CSR, talks with business personalities, and institutions’ representatives, and exhibitions which will enable businesses to showcase their products and services.
There will also be a Gala and a contest for entrepreneurs with innovative projects.
"This year's program is fairly light, but we know we'll have an impact because the activities have been specifically targeted to meet each of these events with a precise objective," explained Linda Amegan-Ayeh, communications officer for the Terreau Fertile association.
The association expects more than 3,000 people to participate, physically, in the fair, and more than 10,000 online.
Esaïe Edoh
Tourism: Atakpame’s Roc Hotel Reopens on October 1, 2023
In a statement release dated September 13, 2023, Togo’s Ministry of Tourism announced that the Roc Hotel of Atakpamé in the Plateaux region will reopen on October 1. The hotel was closed over the past three months for rehabilitation work.
"The Roc Hôtel of Atakpamé reopens its doors on October 1, 2023, after 3 months of closure for renovation work. As a result, you will now be able to stay here and admire the hotel's panoramic view of the beautiful city of Atakpam," said Dr. Kossi Gbenyo Lamadokou, the Minister in charge.
The renovation of the hotel aimed to make it more comfortable, according to its management. They were undertaken in a context where the government strives to dynamize the local hospitality industry.
A few months ago, the Kara Hotel (412 km north of Lomé) also announced the completion of its renovation.
Ayi Renaud Dossavi
SMEs: IFC Invests €15M in Several Countries, Including Togo
The International Finance Corporation (IFC) has invested €15 million in the Joliba Fund I, which is managed by Abidjan-based private equity firm Joliba Capital. The World Bank’s private sector arm announced the investment on September 13.
In its press release, IFC noted that most (80%) of the facility should support SME growth in several countries, including Togo. Other countries to receive the support are Benin, Burkina Faso, Cameroon, Côte d’Ivoire, Mali, Senegal, and Gabon. The source emphasizes that at least 80% of the investment will go to IDA-eligible countries.
In detail, the IFC's contribution includes a €7.5 million equity investment from its SME Ventures program, plus €7.5 million from the International Development Association's (IDA) Private Sector Promotion Window's Blended Finance Facility, designed to reduce the risks associated with investments in low-income countries.
Overall, Joliba Fund I has raised a total of €55 million from commercial investors and development funders such as France's Proparco and the Netherlands' FMO.
In Togo, the IFC has directly poured $300 million into various private projects, spanning sectors such as energy, telecommunications, and urban mobility. More recently, the Corporation signed an agreement with the Association of Large Enterprises of Togo (Association des Grandes Entreprises du Togo or AGET), to support SMEs/SMIs, to help them secure more financing.
Ayi Renaud Dossavi
Togo: Passenger Traffic at Lomé Airport Reaches 632,083 Heads in H1 2023, Up 25.3% YoY
Passenger traffic at Lomé’s Gnassingbé Eyadema International Airport(AIGE) stood at 632,083 heads over the first half of 2023. According to a report published by the Directorate General of Budget and Finance (DGBF), this is 25.3% more than the 472,166 people recorded between January and June 2022.
The DGBF’s report attributes the surge to the opening of new routes, such as the Lomé to Sao Tomé and Principe route (via Libreville) launched in October 2022 by Asky.
Freight and aircraft movements were up by 1.2% and 10.1% respectively over the period under review, according to the report.
The upward movement started in 2021, after a decline in 2020 spurred by Covid. That year, the number of passengers who passed through the AIGE stood at 460,000, against 916,000 in 2019 (-49%).
Since then, the airport’s management aimed to reach 1.5 million passengers by 2025, in line with the government’s goal to make Togo a regional air hub.
Esaïe Edoh
Lomé to Host 14th WAEMU Conference of Employment and Vocational Training Ministers
Lomé will host the 14th Conference of Ministers in charge of Employment and Vocational Training of the West African Economic and Monetary Union (UEMOA) on September 15. The meeting will focus on identifying common strategies for boosting youth employment in WAEMU States.
The conference’s theme is: "Labor market information system: what strategies for better socio-professional integration of young people in the UEMOA space?"
According to Eké Kokou Hodin, Togo's Minister for Vocational Training, the actions to be identified and undertaken in the UEMOA region should improve knowledge of the labor market environment.
The representatives of the Uemoa countries present, along with experts, will reflect on the labor market environment, and the consolidation and sustainability of systems for monitoring labor market indicators. This is to, ultimately, identify the best prospects for training and professional integration of young people and women in the Union.
Before the meeting, a preparatory meeting of experts, focal points, and other stakeholders was held from September 12 to 14 in Lomé. They looked at the various goals assigned to the 14th Conference of Ministers to see how relevant they were.
Esaïe Edoh
Togo: Intellectual Property Crucial for Businesses, Minister of Trade Says
Togolese companies should integrate intellectual property into their business strategy. This, according to the Minister of Trade, Rose Kayi Mivedor-Sambiani, would make them more competitive, at the continental level. The official made the statement on the sidelines of the 24th African Day for Intellectual Property, on September 13.
"Intellectual property is a crucial issue for businesses," said the minister. Indeed, intellectual property enables companies, especially, to protect their creations, such as inventions, trademarks, industrial designs, and models, to deal with unfair competition, to participate in technology transfer negotiations, and to defend against any unauthorized use.
The Trade Minister underscored the importance of intellectual property for businesses in relation to the upcoming launch of the African Free Trade Continental Area (AfCFTA) which “requires strong competition”.
Alongside the Intellectual Property Day, Lomé is hosting this week the 4th edition of the OAPI Brand Awards, from September 13 to 15. This biennial event of the African Intellectual Property Organization (OAPI) rewards the dynamism of companies (SMEs/SMIs) from member states while raising awareness among economic players of the importance of protecting and exploiting the OAPI brand.
Ayi Renaud Dossavi
Togo: Investments Up 4.5% on Average in the Past Five Years
Investments in Togo have risen steadily over the past five years. According to the latest economic data available, they grew by 4.5% on average to about 20% of the GDP in 2022.
The rise, according to the Presidency, was induced by pivotal reforms and infrastructure modernization, in a context where more efforts are being made to boost the private sector’s capacity to attract investments.
As recently recalled, Togo seeks more private-public partnerships. Regulation-wise, the country has introduced several measures in the area of procurement. Among others, a Private-Public Partnership Cell was set up within the Presidency.
More challenges remain and the government, through its Ministry for Investment Promotion, has been exploring potential solutions with the private sector.
In Q1 2023, Togo approved four foreign investment projects, totaling CFA19 billion in value.
Togo: Minister of Youth Seeks Commonwealth Support for Togolese Youth
The Togolese Minister of Youth, Myriam Dossou-d'Almeida, is in London. The official is attending the 10th Commonwealth Youth Ministers' Meeting which opened on September 12 and closes on September 14.
On September 11, Dossou-d’Almeida discussed with the Commonwealth’s Secretary General, Patricia Scotland, the prospect of the organization's support for young Togolese in the fields of artificial intelligence development and language skills.
A few days prior, the Commonwealth Scholarship Commission offered Togo 32 scholarships for Master's (19 places) and Doctorate (13 places) degrees in the UK for the year 2024.
Togo, it should be noted, became a member of the Commonwealth just over a year ago.
Esaïe Edoh
Togo: State Expenditures Reached CFA850 Billion in H1 2023
Throughout the first half of the year, Togo’s budget expenditures stood at CFA846.21 billion. According to the General Directorate of Budget and Finance (DGBF) that disclosed the figure in its "Rapport d'exécution du budget de l'Etat à fin juin exercise 2023", it is 22.84% more than the State spent over the first six months of 2022–that is CFA632.06 billion.
According to the report, the amount spent between January and June 2023 represents 43.32% of the total the State plans to spend throughout the year.
In detail, budget expenditure amounts to CFA632.06 billion, while cash expenses are estimated at CFA214.16 billion.
The report attributes this year's expenditure increase to a rise in revenue mitigation expenditure (CFA 85.12 billion), personnel expenditure (CFA 139.71 billion), transfer expenditure (CFA 87.74 billion), and investment projects (CFA 157.94 billion).
Esaïe Edoh
Togo: Ministry of Youth Announces Measures to Tackle Drug Abuse
Last weekend, Togo's Comité de réflexion sur la stratégie intégrée de lutte contre la drogue et les substances psychoactives chez les jeunes (Committee for Reflection on the integrated strategy to combat drugs and psychoactive substances among young people) announced several measures to protect the country's youth against addictions. The measures include air and land border controls, and banning the sale and consumption of drugs, shisha, and psychotropics at the municipal level.
The ad hoc committee also plans to regulate access to social networks, especially online sales, and to deploy law enforcement officers around schools to deter drug dealers.
The planned initiatives should enable children to grow up in a healthy environment, reduce the risks of drug abuse, and prevent young people from becoming addicts and victims of organized crime, violent extremism, or terrorism.
In the same framework, "the fight against drugs will be better coordinated". In addition, “evidence-based education and prevention programs targeting youth, families, and communities will be implemented", added Kossi Amayi, chairman of the committee.
According to the Ministry of Grassroots Development, the upcoming measures are prompted by the results of the "West African Epidemiological Network Drug Use (WENDU)" research. The study, which covers the ECOWAS region, found that most people being treated for drug addiction in Togo are aged between 20 and 39.
Esaïe Edoh