The African Union (AU) just awarded Togo a recognition certificate for its efforts and leadership in air safety and security in Africa, and the world. The document was delivered by Jamel Dridi, an expert in civil aviation and facilitation, on behalf of the African Civil Aviation Commission (AFCAC). This was on the sidelines of an inter-regional workshop on facilitation and border security, held in Lomé, on May 10 and 11.

Around 60 experts from 44 countries attended the meeting where they shared their experiences and discussed the latest trends in security and border facilitation. 

Commenting on the certificate, the Director General of the National Civil Aviation Agency (ANAC), Col. Dokisime Gnama Latta, stressed Togo’s importance in strengthening regional integration in the aviation sector, especially through President Gnassingbé.

"The champion of the single market for air transport is the Head of State Faure Essozimna Gnassingbé. From 23 states at inception, there are now 35 countries and two others that are announced, Mauritania and São Tomé," Col. Gnama Latta said.

The international workshop was organized by the African Civil Aviation Commission (AFCAC), the European Civil Aviation Conference (ECAC), and the Arab Civil Aviation Organization (ACAO). The aim was to boost cooperation between these parties, enhance security at borders, and facilitate the exchange of passenger data. 

The meeting falls under the Civil aviation security in Africa, Asia, and the Middle East project (CASE II). The EU backed this 60-month project with €8 million.

The 4th edition of the BRVM Awards ends today. The event, which started yesterday, May 10, focused on the development of financial markets and integration issues. It gathered about 300 stakeholders from the regional financial institutions of the West African Economic and Monetary Union (WAEMU), particularly those involved in the regional stock market.

The opening ceremony of the Lomé event was presided over by Togolese Prime Minister Victoire Tomegah-Dogbe, in the presence of Badanam Patoki, the president of the WAEMU's Financial Market Authority (FMA-WAEMU), and Adama Coulibaly, the Minister of Economy and Finance of Côte d'Ivoire.

According to Tomegah-Dogbe, this edition of the BRVM Awards took place at a crucial economic and financial juncture–one that requires taking every chance to strengthen ties between regional financial actors. She encouraged enhanced cooperation to tackle the challenges that WAEMU countries are facing.

The official also stressed that financial markets are a key driver for stimulating growth, prosperity, and resilience. She believes these markets need to raise more funds for supporting infrastructure projects, SMEs, and invest in key sectors. "The stock market should not only be associated with large listed companies but must position itself to impact the entire economy of our countries," Tomegah-Dogbe said.

Economic Resilience

"Capital Markets and Economic Resilience" was the theme of the 2-day event. This theme, according to Edoh Kossi Amenounve, the CEO of the Regional Securities Exchange (BRVM), is evocative given the troubled macroeconomic context.

The CEO of the BRVM reported that despite a challenging environment characterized by declining global stock markets and rising key interest rates, the organization raised slightly more funds (0.46%) last year than the year before. The context, in his opinion, calls for better organization to deal with rising crises, and explore technological solutions for boosting financial sectors.

A Distinguishing Event

In addition to being an annual meeting for stakeholders in the regional financial market, the BRVM Awards also is an occasion where the region’s financial actors are recognized.

This year, there were eight award categories integrating quantitative and qualitative criteria. Winners will be actors who helped sustain or develop market activities in 2022, in a significant manner.

The BRVM Awards were launched in 2020, and the first edition was held in Dakar, Senegal. 

Esaïe Edoh

A top-level Millennium Challenge Corporation (MCC) delegation is in Togo at the moment. The team, led by James Gerard, Executive Director of the Threshold Programs, took part, on May 8, in a review meeting for Threshold in the country.

The delegation, according to the OMCA, which is the MCA’s local agency, came to analyze with key stakeholders, synchronization bridges between the Threshold’s ICT and Land Reform projects (LRAP) and the Compact, with a focus on the LRAP projects. 

Another goal is to bolster existing mechanisms aimed at fighting gender-based violence, and at making sure that environmental and social norms are respected as part of the program. 

The delegation should meet several officials during its stay in Togo. Among others, it is expected to go to the land reform ministry and the digital economy ministry. They will also meet with the chairman of OMCA Togo and the country coordinator of the MCC’s Compact program. 

Togo received $35 million under the Threshold program. This includes $8 million for LRAPs. The country also recently obtained $12 million to prepare a project which it will submit to the MCC as part of the Compact. The latter provides more important financing packages.

Togo will ratify the statute of the African Mining Development Center (AMDC), an institution created seven years ago in Addis Ababa. The country’s parliament gave its approval on May 9, during a plenary session attended by Mawunyo Mila Aziable, Minister Delegate to the President of the Republic in charge of energy and mines.

Ratifying the statutes will enable Togo to get support for implementing reforms in its mining sector, as well as access to qualified human resources to further its mining research. Lomé will also be able to harmonize its mining code with other nations’, and consequently better tap into its mining potential. 

Togo, let’s emphasize, wants to double the contribution of its mining sector to national wealth. In 2017, this contribution stood at 3.17%, according to a report released that year. Among the recent steps Lomé took to achieve that goal is the establishment of a State Company in charge of developing the manganese sector.

Lomé is hosting the 33rd extraordinary session of the Interparliamentary Committee of the West African Economic and Monetary Union (CIP-UEMOA). Started on May 8, the meeting gathers deputies from all eight Member States and ends on May 12. 

The deputies will discuss the Union’s Program Budget reform and its Fiscal Transition strategy. According to Adam Efangal, president of CIP-UEMOA, the reform should enable member countries to better manage their public finances, while the strategy aims to reinforce the Union’s budgetary space. 

The ongoing meeting is part of the Committee’s annual activities. Its goal is to enable the WAEMU’s deputies to know more about new public finance management techniques, to foster social harmony and economic development across the Union.

Togo’s parliament approved, on May 8, the ratification (by Togo, ed. note) of the African Medicines Agency (AMA) Treaty. This should allow the country to better fight the use and distribution of fake drugs, and bolster its pharmaceutical industry. 

Fighting counterfeit drugs is one of Lomé’s main priorities. In 2020, after a summit on the issue, Togolese authorities, several African leaders, and the Brazzaville Foundation launched the “Lomé Initiative”, a project aimed at criminalizing the trafficking of fake drugs. 

The AMA Treaty, which was ratified in Addis Ababa in February 2019, has the objective of enhancing and safeguarding the health of Africans by guaranteeing prompt and dependable availability of secure and quality-assured medications. The Agency will collaborate with African Union (AU) member countries and Regional Economic Communities (RECs) to achieve this goal. The Treaty officially became effective in November 2021.

According to the World Health Organization (WHO), fake drugs kill over 100,000 people every year in Africa, and this highlights the importance of an institution such as the AMA. 

Last week, the Bank of Africa (BOA) and BKG Distribution, a group that sells agricultural equipment, formed a partnership in Togo to provide support to local farmers.

Under the deal, BOA Togo will provide individual farmers or groups of farmers a lease to finance their activities. Meanwhile, the BKG Distribution group, newly established in Lomé, will provide them with agricultural equipment (such as combine harvesters, tractors, etc.).

Borrowers, according to the agreement, will be able to repay the lease over three years, with "competitive interest rates".

The new partnership responds to a demand of farmers for funds, said Bassirou Bonkoungou, Director, BKG Distribution Group. “Through the lease solution, they (farmers, ed note) will be able to secure funds easily and rapidly,” added Youssef Ibrahimi, General Manager of BOA-Togo. Simply put, the farmers will be able to get loans without an upfront payment.

The partnership between BOA and BKG Distribution aligns with the government’s commitment to support agricultural transformation and make the sector a development lever. 

Among the steps that Lomé took to achieve this objective is the recent launch of a Centre for Agricultural Mechanization (CRMA) in each of Togo’s five regions. 

Esaïe Edoh

A World Bank delegation, present in Lomé, Togo, since May 2, 2023, finished, on May 8, evaluating the implementation of the Food System Resilience Program (FSRP) in the country. 

The delegation reviewed, with Togolese actors, suggestions made during the first support mission and assessed work done under the 2023 annual budget as well as work plans for the Program. The various parties also assessed financial management and procurement towards enhancing the FSRP’s performance. 

The evaluation allowed the State to recommend new steps to improve the Program’s implementation.

The FSRP, a program covering West Africa, is backed by the World Bank. The Bretton Woods institution has invested $90 million (over CFA50 billion) in the program. 

Esaïe Edoh