Togo's Court of Auditors is pushing for greater female representation in public finance audit bodies, to achieve 30% women among financial magistrates and inspectors by 2025.

The Court highlighted significant gender imbalances in these institutions. Currently, only one out of 20 magistrates at the Court of Auditors is a woman. At the Inspectorate General of the Treasury (IGT), all five officers are men, while at the Inspectorate General of Finance (IGF), just two of the ten officers are women. The General State Inspectorate (GSI) is the only body with gender parity, having five women out of ten inspectors.

Based on these findings and the Court's new organic law, the institution emphasizes the need to strengthen the female workforce in key agencies like the IGT and IGF. The aim is to promote more gender-sensitive management of public finances.

Tchakéi Essowavana, president of the Court of Auditors' 3rd chamber, stressed the importance of having competent women and men in these audit bodies. This initiative was launched at an August 30, 2024 symposium in Lomé, organized in collaboration with the German development agency GIZ.

Several heads of Togolese Micro, Small, and Medium Enterprises (MSMEs) recently participated in a two-day workshop to boost their capacities. Ended on September 4, the meeting was organized by the Ministry of Trade and Local Consumption. 

Around 30 leaders, including members from the Togolese Group of SMEs, the FAIEJ, and the Togo Chamber of Commerce and Industry, took part in the workshop. Discussions focused on crucial topics such as accessing financing, managing human resources, and finding strategic partnerships.

Chaired by Comlan Nomadoli Yakpey, Secretary General of the Ministry, the workshop aligns with the government's Roadmap 2020-2025 reforms. These reforms aim to support MSMEs through a new charter and the creation of the SME Development Agency. 

"In today's ever-changing business landscape, the ability to forge strong partnerships is more important than ever. Partnerships are more than just transactions; they are strategic alliances that, when well-managed, can bring mutual benefits and propel companies to new heights," Yakpey said at the opening.

The recent workshop and similar initiatives reflect the government's commitment to enhancing the capacities of small and medium-sized businesses, as they are key drivers of innovation and economic growth.

Ayi Renaud Dossavi

The Coordination Committee for Coffee and Cocoa Sectors (CCFCC) has extended the registration deadline for the 2024-2025 coffee and cocoa marketing season. The new deadline is September 16, instead of August 30.

The CCFCC has also urged operators with incomplete applications to finalize their documents before the new deadline. 

Approved cocoa and coffee exporters for the upcoming campaign will be announced after this period. This move comes as coffee and cocoa exports have been rising, with the 2022-2023 marketing year seeing exports of 3,500 tonnes for coffee and 9,000 tonnes for cocoa, reflecting increases of 9% and 63%, respectively.

Ayi Renaud Dossavi

Over the first quarter of 2024, Togo’s debt servicing stood at CFA269.17 billion, with 86% being domestic debt. The sum represents 40% of the debt servicing in 2023–CFA706 billion.

Debt servicing comprises all payments made by the country to meet the financial obligations associated with its borrowings, including repayment of principal (the initial amount borrowed) and interest payments. 

Principal repayments in Q1 2024 totaled CFA225.76 billion, against CFA553.05 billion throughout 2023. From 2022 to 2023, principal repayments surged 45.6%, reflecting strict public finance management despite added pressure on the State budget. 

Overall, Togo's total debt remained stable, going from CFA3,707 billion in 2023 to CFA3,740 billion at the end of Q1 2024.

Ayi Renaud Dossavi

Since 2022, the Support Program for Vulnerable Populations (PAPV) has invested CFA1.2 billion to upgrade markets in nine areas of Togo's central region. These investments aim to boost the local economy and improve living standards.

One of the beneficiaries is Kassena, where the market has been relocated to a modern five-hectare site. The new market features cantonal-type sheds, storage warehouses, a photovoltaic borehole, modern latrines, and shops, costing a total of CFA111.7 million.

"This new market is distinguished from the old one by its modern facilities and equipment designed to meet the current needs of women, traders, and users," said Kiliou Kokolou, the mayor of Tchaoudjo 2, quoted by the Agence Togolaise de Presse (ATOP). He hopes this will help boost the local and national economy.

Besides Kassena, upgraded markets are now operational in Koussountou, Bago, Séssaro, and Pagala-Gare. Work is also ongoing in Kouloumi, Adjengré, Tchifama, and Langabou. The Agence nationale d'appui au développement à la base (ANADEB) is responsible for these projects.

Ayi Renaud Dossavi

Togolese President Faure Gnassingbé arrived in Beijing on September 1, 2024, to attend the ninth China-Africa Economic Forum (FOCAC 2024). He met with Chinese President Xi Jinping on September 2, where they announced the upgrade of their relations to a comprehensive strategic partnership, the highest level in China's diplomatic relations. 

According to the Togolese presidency, this move indicates a significant deepening of ties between Togo and China. The partnership will expand cooperation in political, economic, security, and international coordination.

During their meeting, President Gnassingbé praised China's supportive approach to Africa, as shown by FOCAC. Xi Jinping commended Togo's economic performance and political stability, especially amid regional security challenges. 

With this new comprehensive strategic partnership, Togo joins a select group of African nations, including South Africa, Egypt, Nigeria, and Ethiopia, that have similar close relations with China. Togo aims to strengthen cooperation with China in areas like infrastructure, science and technology, and the digital economy.

Ayi Renaud Dossavi

Togo recently launched a new issue on the UMOA Securities market. This time, Lomé has issued fungible treasury bills, seeking CFA30 billion. The operation closes on September 6.

The bills issued have a par value of CFA10000 per unit and mature over 91 days. They carry multiple interest rates. 

So far this year, Togo has raised CFA593 billion on the regional market. That is 97% of its annual target–CFA607 billion. Funds raised will finance Togo’s 2024 budget.

Esaïe Edoh

The Gnassingbé Eyadéma International Airport welcomed 325,709 passengers in the first quarter of 2024, a 6% increase from the previous year. The Directorate General of Budget and Finance (DGBF) reported this figure in its recent budget execution report.

This growth continues a positive trend since 2021, following a significant drop in 2020 due to the COVID-19 pandemic when passenger numbers fell nearly 49% from 916,000 in 2019 to just 460,000.

The increase in passenger traffic aligns with the government's goal of making Togo an air hub in West Africa, with a target of 1.5 million passengers by 2025. 

The growth was spurred by the opening of new air routes. Recently, six new routes were launched, including two by Ethiopian Airlines and four by Asky, bringing the total number of destinations served to 41. Additionally, Liz Aviation has expanded its services to include flights to Ouagadougou, enhancing regional connectivity.

The direct flight from Lomé to Washington, launched by Ethiopian Airlines in June 2022, continues to drive traffic, using Lomé as a transit point to Addis Ababa and other destinations, reinforcing the airport's role in international aviation.

Esaïe Edoh