Togo First
WAEMU: Togo Secures CFA23 Billion on the Regional Stock Market
Togo secured CFA23 billion in its latest issue on the WAEMU market. The operation–a simultaneous issue of fungible treasury bills and bonds–closed on August 25, 2023.
With the bills, Lomé raised CFA17.7 billion, and CFA5.6 billion with the bonds. Set to mature over 364 days, the former securities have multiple interest rates, while the latter mature over 5 years, at a rate of 6.25% per annum.
According to the issue’s report, 23 investors participated in this tender. They mobilized CFA26.9 billion, marking a subscription rate of 107.63%.
Adding the recent proceeds, Togo has raised CFA530 billion on the WAEMU market so far this year. It just needs 44 billion more to reach its annual target.
Esaïe Edoh
PURS: Togo Backs Keran’s Farmers with CFA613 Billion
With the help of its partners, the government of Togo recently supported farmers in the Keran prefecture (Savanes region) with CFA613 million, as part of the Emergency Program to Strengthen the Resilience of Vulnerable Populations in the Savanes Region (PURS in French). Nearly 40,000 farmers received agricultural kits last weekend in Dapaong.
These kits, consisting mainly of certified market garden seeds, market garden tools, fertilizers (NPK 15 15 15 and Urea 46% N), and bio-pesticides, were handed over by the Ministry of Agriculture.
The equipment, according to the PURS coordinator, Gal Dadja Maganawe, will help boost incomes of beneficiaries amidst a looming terrorist threat and the adverse effects of climate change. It will mainly help to improve the productivity and production of the targeted farms.
This support for agricultural producers is part of component 2 of the PURS, and is financed by the World Bank through the West African Food Systems Resilience Program (FSRP).
Launched in early 2022, the Emergency Program for the Savanes Region aims to improve living conditions for the region's population and strengthen their resilience in terms of access to drinking water and electricity. The project also includes the construction of health and education infrastructures, as well as rural tracks.
Esaïe Edoh
Environment: Togo Updates its Strategy for Implementing the Stockholm Convention
Togo is updating its National Strategy for Implementing the Stockholm Convention on Persistent Organic Pollutants. This Convention, which Togo has adhered to since July 22, 2004, aims to reduce pollutants and pesticides’ impacts on people’s health worldwide. Lomé wants to amend its current policy on regulatory developments at the international level, to match updates from the Conference of the Parties (COP).
The update was launched on August 25, by the Ministry of Environment and Forest Resources.
West Africa: EU Plans Civil-Military Operation in Togo and Three Others, Fearing Looming Security Crisis
The European Union (EU) plans a mission in Togo and three other West African countries, to prevent jihadists from spreading in the region. The mission, a civil-military mission, targets Togo, Ghana, Benin, and Côte d'Ivoire and could be kicked off in a few months.
As reported by the German newspaper Die Welt on August 27, citing European diplomats, besides fighting jihadists, the mission aims to douse Russia’s growing influence in the region. The intervention is announced in a particular context, where European players face diplomatic challenges in the Sahel, especially Niger.
The mission, according to Senior EU diplomats involved in planning at the European External Action Service (EEAS) in Brussels, results from "the European Union's fear that jihadist groups will keep expanding in West Africa from the Sahel to the coastal countries south of the Gulf of Guinea, which could exacerbate instability in the region".
Specifically, the goal is to train and advise local security forces, boosting their capacity to launch counter-terrorism operations and ensure security. Technical measures and confidence-building initiatives in the security sector will also be implemented. The project, however, will only materialize after being ratified at a meeting of EU foreign ministers in Luxembourg in October.
The source, Die Welt, indicated that Benin and Ghana have already sent the necessary letter inviting the European mission.
Ayi Renaud Dossavi
Asky Adds Nairobi to Its Flight Destinations
Asky Airlines has added the Nairobi (Kenya)-Lomé (Togo) route to its flights. The first flight on the route is scheduled for October 1, 2023. With the move, Asky, which is based in Lomé, directly connects West and East Africa. Three weekly flights are also planned, on a 154-seater 737-800 two-class aircraft.
Just a few days before the announcement, Togo acquired a 14% stake in the pan-African airlines for CFA6 billion.
Asky currently covers 26 cities in 24 countries across the continent.
Ayi Renaud Dossavi
Togo Welcomes Israel’s New Ambassador
Rony Yedidia Clein is Israel's new ambassador to Togo. She presented her credentials to Togo's Minister of Foreign Affairs, Robert Dussey, at the end of last week.
The Abidjan-based diplomat also represents her country in Benin and Burkina Faso. Leveraging her 30 years of experience in diplomacy, Yedidia Clein said she will help bilateral cooperation between Lomé and Tel Aviv be more "fruitful". "We had a very pleasant conversation, we talked about ways in which Israel and Togo can cooperate in the fields of health, and agriculture," said Robert Dussey.
Togo and Israel cooperate in several areas, including security, agriculture, and health. The two countries have been partners for over 60 years. Last year, they announced the updating of their cooperation, with a view to "better-adapting cooperation to the current context and strategic options of the two states, especially on the economic front."
In this framework, the two partners are planning a Togo-Israel economic forum.
Esaïe Edoh
ISO Standards Important for Togo’s Socio-Economic Development, ISO Boss Tells PM Tomegah-Dogbe
Sergio Mujica, the Secretary General of the International Organization for Standardization (ISO), was in Togo last week, as part of an African tour. Mujica was received on August 22 by Victoire Tomegah-Dogbe, the Togolese Prime Minister. They talked mainly about how important adopting ISO standards is for the socio-economic development of countries all over the world.
In preparation for the FTAAf...
According to Mujica, his visit to Togo is part of a wider ISO initiative to encourage African countries to adopt its standards, which protect consumers and stimulate trade. He pointed out that these standards are indispensable tools for promoting free and fair international trade. He also stressed the importance of strategically integrating them into various sectors of activity to meet today's market needs.
As a member of ECOWAS and ZLECAf, adopting ISO standards could significantly help Togo attain its socio-economic objectives, in line with the Togo 2025 roadmap.
In this sense, the implementation of the ISO strategy has been encouraged, to mitigate trade barriers and foster development.
Founded in 1946, ISO is an international non-governmental organization that currently has 169 member States. These countries work together to develop voluntary, consensus-based international standards that structure trade and operations in a multitude of fields, including trade.
Ayi Renaud Dossavi
Togo To be Featured in the World Bank’s New Report on Business Climate
The World Bank will release in Spring 2024 a new annual report on business climate, the Business Ready (B-READY) report. Togo, the Bank just announced, will be one of the 54 countries evaluated in the first edition of this report, which replaces the Doing Business.
The new project is at the heart of the World Bank Group’s strategy, and like its predecessor, it aims to assess business and investment climate, ultimately fostering private investment, employment, and productivity. However, the B-READY report also aims to correct the Doing Business’ shortcomings–seeking a balance between the ease of doing business and broader societal impacts.
Hence, the first edition of the report will cover factors like governance, infrastructure, human capital, and innovation. Also, it will consider the impact of external factors, such as climate change and geopolitical risks, on business climate.
"The B-READY project will rely primarily on data provided by private sector experts and involves direct surveys of active, formally registered businesses. For the teams behind this new report, the project goes further than the "Doing Business" initiative in that it will proceed to collect data from a representative sample", said the World Bank.
Regarding the report’s methodology, a team of three to five private sector experts will be set up per country surveyed (two to five for economies with less than one million inhabitants).
The World Bank plans to leverage the report to develop a "comprehensive view of the enterprise". To this end, the Bretton Woods institution will focus on 10 key indicators or themes that run through the entire life cycle of a business entity. These are business creation and location, utilities, employment, financial services, international trade, taxation, dispute resolution, market competition, and insolvency.
Under each theme, the B-READY authors will zoom in on three distinct pillars: the regulatory framework which includes all the rules and regulations businesses must abide by; public utility services, which refers to government measures to facilitate compliance with regulations; and efficiency, which analyzes how the regulatory framework and services are applied, with a particular focus on time and costs.
These pillars or challenges, according to Sandra Johnson, Minister and secretary-general of Togo’s Presidency, extended beyond the framework of the World Bank’s works. “They affect the country's economy in depth, shaping particular aspects of Togolese reality, with a substantive and dynamic dialogue with the private sector,” said Johnson, who also heads the country’s Business Climate Cell–the organization behind the various reforms that improved Togo’s business environment over the recent years.
"With or without the Doing Business, we were already making progress. Since 2020, and despite the health crisis, we have continued along the path of reform, introducing a series of incentives to further facilitate business and attract investment. It's a positive dynamic that we intend to maintain and accelerate. Togo has the assets to stay the course", she confided to Togo First.
Before it was suspended, the Doing Business report ranked Togo among economies with the best business environment. Between 2018 and 2019, the country gained 59 places in the ranking–the best progress over such a short period in the ranking.
Fiacre E. Kakpo
Togo: Mother & Child Hospital Project “Moving Well”, Prime Minister Says
Togolese Prime Minister Victoire Tomegah-Dogbe recently visited the construction site of the Togblékopé Mother & Child Hospital. The official, on the occasion, said the works for these facilities, which are being built in all five regions of the country, were “moving well”.
“Together with the ROK Development company, I visited the Togblékopé Mother & Child Hospital worksite. I salute the good progress of this project, which will be replicated in the 5 regions of our country, thus contributing to universal access to healthcare for the benefit of the populations,” Tomegah-Dogbe posted on social media.
So far, the exact progress rates of the works have not been disclosed.
In April 2022, the project was presented to the Ministers’ Council. Its main goal is to improve the technical capacities of hospitals in terms of pediatric and neonatal resuscitation, to ensure optimal care for mothers and children.
The project, the fruit of a private-public partnership, is steered by the National Institute for Health Insurance (INAM).
Besides Togblekope, which PM Tomegah-Dogbe visited, the other sites set to house a new Mother & Child hospital are Amou-Oblo, Sotouboua, Guérin-Kouka et Tandjouaré. The four sites cover respectively the Plateaux, Central, Kara, and Savanes regions. Togblekope, for its part, covers the Greater Lomé Area and the Maritime region.
Ayi Renaud Dossavi
Togo Welcomes Germany’s New Ambassador
Claudius Fischbach is Germany’s new ambassador to Togo. The European official presented his credentials to the Togolese foreign minister, Robert Dussey, on August 22, 2023.
In a social media post, Dussey warmly welcomed Mathias Veltin’s replacement: “I wish you a fruitful stay in Togo. Your commitment to strengthening our long-term bilateral ties is highly appreciated by our people. The memories of our shared history remain dear to the hearts of the Togolese people.”
Before his appointment in Togo, Dr. Claudius Fischbach served as Germany's ambassador to Mozambique from 2020 to 2023. Before that, from 2019 to 2020, he led the Press and Communication Service at the German Embassy in Paris.
Since Togo and Germany resumed bilateral cooperation in 2012, Berlin has supported the African country with €425 million in subsidies. This support covers various sectors, ranging from education to health and agriculture, as well as decentralization.
Ayi Renaud Dossavi