Bank of Africa (BOA) Togo and Yayra Estate signed yesterday a financing agreement for a social housing project. The project, located in Djagblé (15 km north of Lomé), will cover 25 ha and house 2,500 high-standing but affordable apartments.

As part of their agreement, BOA will provide loans to those interested in buying apartments. “Under this partnership, we are willing to grant these credits and repayment will be made over 15 or 20 years,” said the Director General of BOA Togo, Youssef Ibrahimi.

On the other side, King Akoete Dodjro, Managing Director of Yayra Estate, said they have“negotiated the best terms to ease access to these loans.”

According to both parties, the new deal is a significant milestone for the development of social housing in Togo and a major support to the government’s efforts to bolster this sector for the good of low-income households."The BOA supports this project because it is very ambitious and it is part of the government's policy to promote access to decent housing at a very affordable cost," said Youssef Ibrahimi.

The government, let’s recall, expected 20,000 social housing units to have been built by 2022 but this date was extended to 2025 due to the Covid-19. In line with this objective, Shelter Afrique had committed to funding the construction of 3,000 units and should mobilize other investors to finance the project.

Esaïe Edoh

Seven out of 10 Togolese approve of how the government handled the Covid-19 outbreak. This is the conclusion of a survey that Afrobaromètre conducted in March 2022 and whose results were released on February 27. The survey covered 1,200 people. 

The majority of the surveyed are satisfied with the government’s efforts in mitigating disruptions in the education sector and providing adequate resources to health centers. 

Corruption

However, only 42% of the sample population is fine with how the government supported vulnerable households during the crisis. Also, two-thirds of the surveyed believe that funds dedicated to the pandemic’s management were embezzled. 

A few days before Afrobaromètre released its note, government representatives were at the national assembly to give explanations regarding the 2020 report of the Court of Audit on the management of Covid funds. 

Regarding the use of security forces to make sure that populations comply with health measures that were imposed during the crisis, most citizens approve but denounce the censorship of media coverage at the time. 

Better prepared for upcoming pandemics? 

Most Togolese citizens, according to the survey, believe that the government will be better prepared if a similar health crisis were to occur. Still, they wish for more resources to be dedicated to preparations, the report’s authors Hervé Akinocho and Komi Amewunou indicated in Afrobaromètre’s note.

Ayi Renaud Dossavi

The Togolese government organized last week a meeting with local micro, small, and medium enterprises (MSMEs). Launched in partnership with the German Ministry of Economic Cooperation and Development (BMZ), the two-day meeting aimed to get the businesses more acquainted with trade agreements ratified by Lomé.

Sharing information with the MSMEs should, according to the organizers, enable them to secure more investments and access international markets more easily. 

For some months now, the government of Togo has been taking steps to help SMEs grow; among others, it has updated the charter of SMEs, a document through which it redefines the support of the government for these companies.

In November 2022, Lomé also announced some facilities for companies, including SMEs. These facilities included setting aside 25% of public contracts reserved for young entrepreneurs and access to financing at a reduced rate of 4.5% as provided by the FAEIJ for entrepreneurs.

Esaïe Edoh 

The fourth stage of the Farmers Forum of Togo (FOPAT) ended last Saturday, Feb 25. The event lasted three days and was held in Sokodé, Central Region. On the occasion, farmers of the region reviewed with President Gnassingbe the 2020-2025 government roadmap and its actions to develop agriculture, in the Central region in particular.

In line with the roadmap, various measures were taken to make life easier for farmers, such as measures to improve their access to fertilizers, loans, and machinery. 

While the farmers lauded the efforts, they deplored the unequal access to the input. President Gnassingbe, however, reassured them, claiming the government was making sure to deal with the issue. 

There were a little more than 400 farmers who attended the forum. They came from all 61 districts of the Central region, to discuss the government’s vision for agricultural transformation. 

The first three stages of the FOPAT took place in the Savanes, Maritime, and Plateaux regions. 

Esaïe Edoh 

Togo’s treasury raised CFA14 billion on the WAEMU market last Friday, Feb 24. The amount is less than half of what the country was seeking–CFA35 billion.

The operation was a simultaneous issue of fungible bonds and bills. The fungible bills, which yielded CFA6.5 billion for the country, mature over 364 days while the bonds have two maturities, some maturing over 3 years and the others over 5. The first group (3 years) also produced CFA6.5 billion, and the second group (5 years) produced CFA1 billion. 

While the treasury retained CFA15 billion, the issue brought CFA16 billion from regional investors. 

Since the year began, Togo has secured CFA94 billion on the regional market, out of an annual target of CFA574 billion. The funds will serve to finance the country’s budget for 2023.

Esaïe Edoh

Nutrisource, a Singaporean firm, should open its first fertilizer factory in sub-Saharan Africa before the quarter ends. Located in Togo, the facility should produce up to 200,000 t of NPK fertilizer per year. 

The plant is being built at the Industrial Platform of Adetikope (PIA). According to one of the executives of Arise IPP, the company that manages the PIA, “construction is almost done and equipment is being installed”. He added that “production should begin in May or June 2023.”

The project is part of a larger investment–valued at CFA4.9 billion–that Nutrisource intends to make in the agro-food and agro-industry. Also, the new factory should contribute to the efforts of the Togolese government to boost the agricultural sector, notably by improving farmers’ access to cheaper but better fertilizers and consequently their yields and earnings. In Togo, agriculture is the top employing sector; it employs 65% of the active population and represents nearly 40% of the GDP. 

After Togo, Nutrisource has plans to open three more fertilizer plants in sub-Saharan Africa, one in each of its three sub-regions. "Each region will be supplied from a satellite blending plant, as well as an import and distribution operation," said Murari Rakshit, CEO of Nutrisource. The Singaporean company also launched distribution activities in Uganda and Kenya in 2020.

Fiacre E. Kakpo

The number of road accidents recorded in Togo slightly increased over the past year. From 7,392 in 2021, the figure stood at 7,507 in 2022 (+1.5%), according to a report presented by the ministry of safety and road protection, and the ministry of road, rails and air transport on 21 February 2023.

Last year, the sources added, 683 people died in road accidents, and 9,918 people were injured. This is compared to 680 killed and 9,376 injured in 2021.

With respect to crime, the two ministries reported 17 cases of robbery in 2022. The thieves stole more than CFA16 million, and some equipment. Also, 11 burglaries were reported to the security forces, with nearly CFA16.5 million worth of jewelry and other goods gone.

To reduce the number of road accidents, the government is doubling down on its efforts. Last Wednesday, the Council of Ministers issued a decree regulating the profession of truck drivers. This is after adopting, last December,  a draft bill aimed at providing the transport sector with a new legal framework to guarantee the safety and security of users.

A few years ago, the authorities introduced a ban on the night movement of public transport cars of more than 12 seats that travel between Togolese towns. The ban also applied to trucks equipped with trailers or semi-trailers to move goods. 

Esaïe Edoh