Preparations for the 9th Pan-African Congress which Lomé is set to host next year officially began on May 22. The launch ceremony was attended by several officials from Togo and the foreign affairs ministers of South Africa and DR Congo. Togolese PM, Victoire Tomegah Dogbé presided over the ceremony. 

The Congress should take place between October and December 2024. Organized by Togo and the African Union (AU), it will focus on the following theme: "Renewing Pan-Africanism and Africa's Role in the Reform of Multilateral Institutions: Mobilizing Resources and Reinventing Ourselves for Action."

The 9th Panafricain congress Lomé 2024 has been opened today by HE Mrs Victoire Tomegah-Dogbé, Prémier Minister of Togolese Republique. #PanAfrican #9thPanAfricaincongres #Lomé2024 #Africanophone #Africanophony #APA @DIRCO_ZA @DIRCO_ZA @_AfricanUnion #PanAfricanism pic.twitter.com/dPH9q6mXPa

— Robert Dussey (@rdussey) May 22, 2023

For Togo, holding the event is a challenge. Robert Dussey, the Togolese minister of foreign affairs said in this regard: "We want this congress to be a congress of action. We want this congress to result in a declaration and for this declaration to impact key issues, including identity issues, issues of the role that Africa must play, the issue of business, and the contribution of our Afro-descendant brothers on the African continent. We hope that this congress can give us perspectives of the actions that will be carried out."

Togo’s concern seems valid considering that during the previous edition, South Africa, which hosted the event, refused to allow some northern African representatives to participate. 

The exact date of the next edition has not been decided yet but the Ministry of foreign affairs of Togo assured that it would happen in 2024. The first edition of the Pan-African Congress dates back to 1919. 

Esaïe Edoh

Now that it is eligible for the Millennium Challenge Corporation (MCC) Compact Program, Togo wants to take advantage of opportunities offered by the United States International Development Finance Corporation (US-DFC). It aims to do so through the American Catalyst Facility for Development (ACFD), a facility that funds development projects in Africa. In this framework, the Togo MCC Compact program implementation unit and the US-DFC organized a virtual meeting on investment opportunities in Togo last Wednesday, May 17.

The session gathered over 200 investors, mostly members of the US Chamber of Commerce. Participants were mainly briefed on the ACFD which is a mechanism set up to optimize and organize collaboration between the MCC and the US-DFC. Its ultimate goal is to mobilize private sector capital from the US to finance companies in developing countries.

During the meeting, investors were introduced to various business opportunities available in Togo, across various sectors, and to the Togolese government’s top projects and priorities. Speaking on the occasion, Stéphane Tchasso Akaya, Secretary General of the Ministry of Economy and Finance and National Coordinator of Togo's Compact program, said: "Togo enjoys an exceptional geostrategic position and remains a privileged gateway to the West African market of 300 million inhabitants. The roadmap which is valued at US$6 billion offers investment opportunities in high-impact projects, with up to 52% of the portfolio available for the American private sector."

For her part, Rose Kayi Mivedor, the Minister for Investment Promotion, noted that "accelerating economic growth is a priority for the government, which has a roadmap with 36 projects and six priority reforms to implement by 2025."

This meeting was held as part of the "Vendre la Destination Togo” initiative. The latter aims to promote Togo to investors from different countries.

Esaïe Edoh 

Works to renovate and asphalt the 10 km long road that connects the Adétikopé Industrial Platform (PIA) to its extension zone in Kpomé, are 55% complete.  This was reported during an on-site visit conducted by Zouréhatou Kassah-Traoré, the Togolese minister of public works, on May 19, 2023.

Regarding the deadline of the project, the ministry indicated that 66% of the time allotted has already been consumed. According to reports, earthwork and roadwork, along with the construction of sanitation facilities and a bridge, are underway

Despite the gap between the rate of physical progress and the consumed timeframe, Minister Kassa-Traoré said she is happy with the progress and urged SOGEA-SATOM, the contractor, to speed up its pace so the deadline is met.

The works, once finished, will birth a two-lane road, with each lane having a width of 7m and separated by a 2m divider. Drainage and sanitation facilities like culverts and ditches are also included in the project, as well as a 25m-long artifice (in the form of a bridge) to serve as an underpass for locals.

Fatou Diallo Ndiaye is the new resident representative of the International Organization for Migration (IOM) in Togo. She officially presented her appointment letter to the Togolese minister of foreign affairs, Robert Dussey, last week. 

Appointed several months ago, Ndiaye will cover Togo, Benin, and Ghana. She will mainly handle migration issues in these countries and ensure good governance at their borders.

"I congratulate you and reassure you of the Togolese Government's readiness and support in the accomplishment of your mission. Please accept our gratitude towards the IOM for its constant presence and multifaceted support for the implementation of the government's roadmap," said Robert Dussey.

Fatou Diallo Ndiaye started her mission with a work session with Yark Damehame, the minister of security and civil protection.

The Senegalese diplomat has nearly 20 years of experience. Before coming to Togo, she worked in Senegal, Niger, Guinea, Sierra Leone, and Norway, under the IOM.

Esaïe Edoh

The Lomé Container Terminal (LCT), the main container terminal of the port of Lomé, will soon receive a new towing vessel. The news was disclosed by Antonio Bordils, CEO of Boluda Towage, a global leader in towing and the company that is providing the boat.

According to the Port of Lomé, Bordils was speaking with Togo’s Minister of Maritime Economy, Edem Tengue, on May 16th. The businessman came to see the official with a delegation from his company. 

The incoming tugboat, intended for the outfitting, docking, and rescue of commercial vessels, will bolster the towing capabilities of LCT, particularly for mega-ships. It should also help Lomé’s port keep its competitive standing against the ports of Abidjan (Ivory Coast) and Tema (Ghana), and the port of Lekki (Nigeria) which has recently developed.

As MSC’s transshipment regional hub, LCT plays a significant role in containerized goods traffic in West Africa. Last year, the terminal handled 1,569,138 TEUs, an important share of the whole port’s container traffic.

Recently, LCT announced a €50 million investment to expand and acquire more handling equipment.

Ayi Renaud Dossavi

Togo successfully carried out its second issue on the regional money market last Friday, May 19. The country’s treasury raised CFA31 billion from the WAEMU investors, by simultaneously issuing fungible bonds and bills. 

The operation’s report states that Lomé raised CFA20 billion via the bills which mature over 182 days, and the remaining CFA11 billion was raised via the bonds, which mature over 3 and 5 years. 

Overall, however, while it retained CFA31 billion, the treasury mobilized CFA56 billion from 31 investors, thus representing a coverage rate of 189.43%. 

This is Togo’s fourth consecutive success on the regional stock market this year. Since January, the country has secured CFA233 billion in this market, which is almost half of its annual target–CFA574 billion.

Esaïe Edoh 

Togo ranked 162nd in the 2022 Human Development Index (HDI), with a score of 0.539. According to the UNDP, which published the report, this is “significant progress” compared to the year before when the country ranked 167th (with a score of 0.515).

The progress was disclosed last Friday, by the UN agency which launched the report that day. The launching ceremony was presided over by Sandra Ablamba Johnson, Minister Secretary General of the Togolese Presidency. It was attended by several officials, including the Minister of Education, Dodzi Kokoroko, and Binta Sanneh, the UNDP’s new resident representative.

"According to this 2021/2022 report, Togo is making significant progress. Indeed, our country's human development index has increased from 0.515 in 2019/2022 to 0.539 in 2021/2022. As a result, Togo ranked 162nd out of 191 countries in the 2021/2022 report, against 167th in the 2019/2020 report, a five rank jump," said Johnson. She then urged partners to help the country achieve its goals, regarding social inclusion and human development.

National gross income goes up 

Over the period reviewed, Togo’s gross national income rose, from $1,602 in 2019/2020 to $2,167 in 2021/2022. Similarly, life expectancy at birth improved slightly, from 61 years in 2019/2020 to 61.6 years in 2021/2022.

Inequalities

Despite these improvements, the UNDP noted a high level of inequality, especially gender-related, in Togo. Indeed, last year, the development index for women in the country stood at 0.497, compared to 0.586 for men.

The HDI, let’s recall, assesses a country’s level of development based not only on economic data but also on the living standards of its inhabitants. While Togo’s HDI score is still below the global average, it has been progressing steadily in recent years. The figure rose from 0.484 in 2014 to 0.487 in 2015, then to 0.503 in 2017, 0.513 in 2018, 0.515 in 2019/2020, and finally to 0.539 in 2021/2022.

The 2022 HDI report authors also highlighted the current global environment which is marked by the war in Ukraine, its impacts on people and economies, climate and ecologic disasters, as well as the Covid pandemic which the world is recovering from. 

Check out the report here.

Ayi Renaud Dossavi

More foreigners are starting up businesses in Togo. Last year, out of the 13,835 new businesses registered at the Business Formality Center (CFE in French), 2,176 were created by foreigners. The number is 1.6% higher than that recorded in 2021. 

Among foreigners who officially set up a business in Togo in 2022, Nigeriens (from Niger) came first with 402 businesses. Right behind were Beninese with 357 businesses. In the third position were Nigerians (285 businesses). 

Indians and Burkinabes followed, with 155 and 143 businesses. The top 10 was closed by Malians, Lebanese, Ivoirians, Ghanaians, and French, who are the only Europeans in the ranking. 

According to forecasts, the upward dynamic for business creation should continue, spurred by the government’s reforms (dematerialization of procedures, reduction of time, costs, and formalities among others) to improve the business climate. 

Esaïe Edoh

The recently-retired CEO of Ecobank Transnational Incorporated (ETI), Ade Ayeyemi, was made Commander of the Order of Mono on May 18 in Lomé by Faure Essozimna Gnassingbé, Togo’s President. This is the most prestigious distinction of Togolese honorary orders. According to the Togolese authorities, it recognizes the Nigerian’s professional achievements.

Le Directeur général sortant de Ecobank Transnational Incorporated (ETI) @EcobankGroupe, Monsieur Ade Ayeyemi, a été élevé ce 18 mai 2023 au rang de Commandeur de l’Ordre du Mono par le chef de l'État, @FEGnassingbe. pic.twitter.com/fHdTd8d4fY

— Présidence Togolaise/Togolese Presidency (@PresidenceTg) May 18, 2023

When the ceremony ended, the former ETI executive thanked President Gnassingbé and lauded his development strategy, as well as Togo’s stability and hospitality. 

"I am very impressed with the focus of Togo's leaders on the development of the country and the well-being of the people, as well as the stability in Togo. Peace and stability are the engines of development. I am grateful to the President for this honor. I had a great time in Togo. The Togolese are warm and welcoming," Ayeyemi said. The ETI, a group present in 33 African countries, is headquartered in Lomé.

An accounting and financial management graduate, Ade Ayeyemi held many key positions at ETI before becoming CEO in 2015. He occupied the seat for nearly 8 years and was replaced by Jeremy Awori, a Kenyan.

Ayi Renaud Dossavi