Togo adopted during its latest council of ministers, on March 15, a new decree that will support the country’s efforts to reduce its greenhouse gas emissions (GHG) and make populations more resilient to climate change. 

"The adoption of this text, which sets the rules for carbon management mechanisms, will help boost carbon storage while contributing to the fulfillment of Togo's international commitments to reduce greenhouse gas emissions,"  the council's statement reads.

This will involve buying carbon credits, which are measurable, verifiable emission reductions from certified climate action projects. 

Ayi Renaud Dossavi

The International Finance Corporation (IFC) and Togo's Association of Large Enterprises (AGET) have partnered to support the country's small and medium-sized enterprises (SMEs). Olivier Buyoya, IFC's West Africa director, announced the partnership during a meeting with Prime Minister Victoire Tomegah-Dogbé on March 14.

Under the partnership, IFC will work with the government, large Togolese companies and other institutions to identify SMEs/SMIs based on their potential and help them secure financing.

"We really looked at the barriers that SMEs/SMIs face, and one of those barriers is access to finance, but there is also access to markets, access to information and tools that will help them grow," Buyoya said.

The support will be provided through the National Champions Support Initiative, a program that supports indigenous businesses and helps them grow.

The IFC is the financing arm of the World Bank. In Togo, it works with banks to support economic development. This partnership has helped provide over 600 loans to local SMEs, according to Sergio Pimenta, IFC's regional vice president for Africa.

Esaïe Edoh

The National Network of Certified Seed Producers of Togo (RNPSC-Togo) recently set prices of certified seed for the 2023-2024 agricultural season.  They were set during the Network’s general assembly last month.

A kilogram of maize seed of all varieties is set at 650 FCFA, while that of rice is 550 FCFA. Sorghum and fonio seeds cost 850 FCFA and 600 FCFA respectively. Other certified seeds, such as sesame, cowpea, soybean, and groundnut, are sold at 2,500 FCFA, 850 FCFA, 750 FCFA, and 850 FCFA per kilogram.

"For us, it is necessary that prices are announced very early so that producers can be well informed. Seed is one of the basic inputs for a farmer and quickly knowing these prices will allow the farmer to better organize himself," said Balintiya Konsana, president of RNPSC-Togo.

The price of certified seed has increased compared to the previous season. This may have an impact on farmers as they will have to adjust for this season. For the 2022-2023 season, the price of certified seed for maize was set at 500 FCFA/Kg (100 FCFA/kg less), while rice was 500 FCFA/Kg (50 FCFA less, according to our sources). Soybeans cost 700 FCFA/Kg and groundnuts 800 FCFA/Kg. In 2021, prices were 500 FCFA/Kg for maize, 625 FCFA/Kg for soybeans, 425 FCFA/Kg for rice, and 750 FCFA/Kg for groundnuts.

This price increase could also have repercussions on production costs for Togolese farmers.

The Banque Ouest Africaine de Développement (BOAD) has joined the Finance in Common Coalition (FICS) to fight gender inequality. 

The African Development Bank (AfDB), a leading development finance institution in the UEMOA zone based in Lomé, Togo, has joined the Finance in Common Coalition (FICS), co-chaired by UN Women and the African Development Bank (AfDB), to fight gender inequality.

"Through this signature announced on October 20, 2022, by the circle of Women Leaders of the FICS Coalition, the BOAD commits to work with other Banks and Development Financial Institutions, members of the FICS Coalition, and to make their coordination and mobilization actions efficient, in favor of the fight against gender inequalities and the empowerment of women and girls,” the BOAD wrote in a statement dated March 13, 2023. 

By joining the coalition, the BOAD aims to improve access to employment opportunities, promote equal access to financial services, and more broadly, financing, in favor of gender equality, women's rights, and their empowerment, catalysts for sustainable development and economic resilience in our region.”

The BOAD will collaborate with other development banks and financial institutions to improve their actions against gender inequality and empower women and girls. 

BOAD’s adhesion to the FICS aligns with its DJOLIBA Strategic Plan (2021-2025) and its gender policy, which aims to promote gender equality and women's empowerment in the sub-region. 

Ayi Renaud Dossavi

In Togo, the edge-of-field price of cashew nuts for the new campaign is CFA325 per kilogram. The price was announced during the official launch of the campaign in Kara, under the aegis of the Cashew Coordination Committee (CCFA) in collaboration with the Interprofessional Council of the Cashew Sector in Togo (CIFAT).

Before the launch, several interprofessional agreements were inked on March 9, 2023, between the five links of the cashew nut sector.

Evolution of the industry

Togo produced 33,866 tons of cashew nuts in 2022, against 16,000 tons in 2016 (+112%). Over these six years, the crop generated over CFA76 billion and created more than 200,000 jobs. This year, production is expected to reach more than 40,000 tons.

Regarding purchase and sale, the CIFAT took practical measures to better trace the nuts, in line with the laws regulating the cashew sector in Togo.

During the campaign’s launch, the Director General of Private Sector Development, Bilakimwé FEOU, representing the Minister in charge of trade, invited all the actors of the sector to comply with the interprofessional agreements as well as the regulatory texts in force throughout the marketing campaign.

He then revealed that "a device will be put in place to monitor, track and severely punish violators". Moreover, "the government endorses the concerns of the sector's actors, and provisions are being made for structuring investments for the benefit of the different links in the sector with a view to the proper functioning of the cashew industry's management bodies from this year 2023."

Ayi Renaud Dossavi

The Togolese capital, Lomé, currently hosts a five-day seminar on the theme "Strengthening the Integration of Debt and Cash Management ". Started yesterday, March 13, the seminar is organized by the IMF's Regional Technical Assistance Center in West Africa (RTAC West Africa).

Several experts from WAEMU, Guinea, and Mauritania are attending the meeting which is held at the 2 Février hotel. These include debt and cash management executives from the 10 countries that RTAC West Africa covers.

The meeting was opened under the auspices of Akou Mawussé Afidenyigba, representative of the ministry of finance. IMF’s resident representative, Maximilien Kaffo, was also present.

"The main goal of the seminar that begins today is to raise awareness, introduce and provide you with practical training aimed at strengthening your knowledge relative to the importance of integrating debt management with cash management and the actions that can be implemented to facilitate this integration", said the representative of the ministry of finance.

The seminar, according to Maximilien Kaffo, should boost the capacities of the countries concerned, in terms of public debt and cash management.

RTAC West Africa was set up to increase technical support to the following countries: Benin, Burkina Faso, Côte d'Ivoire, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, and Togo. Established in 2003 in Bamako, Mali, its headquarters were transferred to Abidjan, Côte d'Ivoire, in mid-2012.

Ayi Renaud Dossavi

Togo now uses Radio-Frequency Identification (RFID) to track goods that transit in the country. The Chamber of Commerce and Industry of Togo (CCI-Togo) and the Togolese Revenue Office (OTR) launched the new tracking system on March 10, 2023.

Thanks to the system's radiotags attached to the trucks, the tax authorities will receive data from the merchandise; the data is processed by transceivers fixed along the road corridors.

This should save time for business operators and all actors in the transport chain and road transit. It will also ensure the safety of goods in transit. 

The new system is important for Togo, according to CCI-Togo, and will contribute to its goal of becoming a regional logistics hub.  

"In line with Axis 2 of the 2025 government roadmap, this tool comes at the right time to help assert Togo's place as a logistics and services hub," said Nathalie Manzinèwè Bitho, president of the special delegation of the CCI-Togo.

By adopting the new system, Togo complies with the recommendations of the National Committee on Trade Facilitation (CNFE) in charge of implementing the Agreement on Trade Facilitation (AFE) of the World Trade Organization (WTO).

The RFID replaces the SSE system which consists of affixing beacons emitting signals on vehicles carrying goods in transit. 

Esaïe Edoh

The Minister of investment promotion of Togo is holding a virtual business meeting with Moroccan exporters next Tuesday, March 21. “Doing Business with Togo” is the name of the event. Organized in partnership with the Moroccan Association of Exporters, the meeting will take place at 9:30 AM (Togo time).

The meeting aims to boost investments and trade between Togo and Morocco. Companies interested in participating can register here. 

In the last quarter of 2022, Togo attracted more than CFA43 billion of FDIs, mostly in sectors such as clothing, wood and construction, agribusiness, and services.

For more information, visit the registration portal here. 

Ayi Renaud Dossavi