Togo will soon receive $200,000 (CFA122 million) from the United Nations Development Program (UNDP). The country will use the funds to draw its costed Climate Strategy. The announcement was made on June 18, 2024, in Lomé, during the national validation of Togo's vision for long-term low-carbon and climate-resilient development.

According to Seynabou Diaw, UNDP Deputy Resident Representative in Togo, the financing was extended in response to a request that Togo recently submitted to the National Determined Contributions Partnership (NDC Partnership). Diaw added that steps were being taken to provide the technical expertise needed to draw the costed Climate Strategy. 

The strategy will help Togo raise the funds necessary to ensure its climate resilience–CFA6 billion. 

Le Togo va bénéficier de 200 000 USD supplémentaires du @pnudfr pour la formulation d'une stratégie climatique chiffrée. C'est l'annonce faite ce matin par @NabouDiaw1 lors de l’atelier de validation nationale de la vision du dvlpmt à long terme à faible émission de carbone. pic.twitter.com/Ctz3cGx3VQ— Pnud Togo (@PnudTogo) June 18, 2024

The CFA6 billion, according to the Togolese Ministry of the Environment and Forest Resources should help mitigate the devastating effects of climate change and promote resilience among vulnerable communities.

The recent UNDP support adds to other funding the institution has already provided to Togo, including CFA146 million in 2022 for community projects in the field of environmental protection. The UN branch also supports the Togolese government's reforestation policy.

Esaïe Edoh

On World Sickle Cell Day, June 19, the city of Kpalimé (Plateaux region) hosted key events aimed at tackling the disease. These included awareness-raising activities and free screening.

Togo’s Research Centre on Sickle Cell Disease carried out the awareness-raising sessions and free screening. The activities covered 600 young pupils, apprentices, and school dropouts in Kpalimé.

On June 18, the Center received a delegation from FORTIS HEALTHCARE LIMITED, an Indian company specializing in the fight against sickle cell disease. The delegation proposed a partnership for assistance ranging from screening to appropriate treatment at a lower cost. The offer was well received, and the terms of the collaboration are currently being defined.

The delegation also visited the CHU-SO pediatric ward, where appropriate care continues to be provided for children with sickle cell disease, childhood cancers, and other blood disorders. There, the Indian delegation suggested organizing regular virtual meetings between Togolese, Indian, and American professionals to discuss clinical cases.

Sickle cell disease is a significant health issue in Togo, with 16% of the population affected. The country is very committed to the disease’s eradication.

Togo’s Updated 2020 National Rice Development Strategy (SNDR 2) was reviewed last week in Lomé. The reviewing meeting took stock of projects falling under the strategy and their implementation level.

On the occasion, key stakeholders of the rice sector highlighted how the ministry of agriculture supported farmers, by providing inputs and technical advice. This support, the stakeholders stressed, helped boost production by 3.8% in 2021-2022. 

According to the Ministry of agriculture, paddy rice production stood at 171.8 thousand tonnes in 2022, compared with 165.5 thousand tonnes in 2021. The same source added that Togo’s output is mostly driven by lowland rice (55%) and rainfed rice (34%).

With the SNDR, Togo eyes an output of 1,115,087 tonnes by 2030, up from 145,489 tonnes in 2019. The targeted volume is more than enough to meet the country’s demand and achieve food security, according to the Ministry of Agriculture.

To achieve its goal, Lomé will improve rice productivity and quality throughout the value chain, reorganize the sector's structure, and bolster governance.

Updated in 2020, the rice development strategy requires financing of CFA87 billion. It was backed by the Coalition for Rice Development in Africa (CARD) and the Japan International Cooperation Agency (JICA),  requires financing of 87 billion FCFA.

Esaïe Edoh

Lomé’s Palais des Congrès is closed for renovation. The works began this week, according to a press release from the Ministry of Public Works.

"Due to renovation work, access to the said palace is temporarily closed from Monday, June 17, 2024, until the completion of the work planned for this purpose," the release indicates. "The Minister of Public Works is counting on the good understanding of users and apologizes for any inconvenience," it added.

Built in 1972, the Palais des Congrès de Lomé has long served as the headquarters of the National Assembly and is an emblematic space in the Togolese capital.

Ayi Renaud Dossavi

A group of British investors is currently in Togo. They came as part a UK-Togo Trade and Investment Mission. The latter aligns with Togo’s ambition to secure more foreign financing for top priority projects. The mission, scheduled from June 18 to 19, is initiated by the DMA Invest investment fund and is a follow-up to the Franco-British Trade and Investment Forum (WCAF) in West and Central Africa.

The British investors came to learn more about Togo's economic prospects and the most promising sectors for investment. The rendezvous will feature economic information sessions, sector roundtables, and site visits are planned to facilitate this.

In February 2023, a first mission of British investors was in Togo. They had met with local economic players and Togolese government authorities. The ongoing mission aims to consolidate connections established then and bolster the UK-Togo relationship.

Esaïe Edoh

Citizens of Sao Tome and Principe and Togo no longer need visas to visit each other. The two countries sealed a deal to this end on June 18, in Lomé. 

The deal, according to Togo’s ministry of foreign affairs, covers all passport holders. "Through the agreement signed today, holders of all types of passports will be able to travel reciprocally in both countries, visa-free for stays not exceeding ninety (90) days," the ministry said.

According to both countries’ ministers of foreign affairs, the agreement should boost cooperation, trade and tourism between Togo and Sao Tomé.

Esaïe Edoh

In Togo, telecom users have until Sunday, June 23, to participate in the ongoing Customer Satisfaction Survey of the ARCEP, the country’s telecom watchdog.

Launched on June 3, the survey aims tp assess the quality of services provided by fixed, mobile, and postal operators, as well as by ARCEP itself. The main objective is to “measure the overall satisfaction of consumers, users, and customers of the electronic communications and postal sector”.

To take part in the survey, click here.

Ayi Renaud Dossavi

Lomé will launch its next operation on the WAEMU stock market on June 24. The Treasury will seek CFA30 billion, through a simultaneous issue of fungible bonds (OATs) and fungible bills (BATs).

In detail, Lomé expects to secure CFA10 billion via the BATs and CFA20 billion via the OATs. The former mature over 364 days, have a par value of CFA1 million, and multiple interest rates. The latter have a par value of CFA10,000, and maturities of 3 and 5 years, with respective interest rates of 6.15% and 6.40%.

Proceeds will plug Togo's 2024 budget, which stands at CFA2,179 billion–income and expenses. 

So far this year, Togo has raised CFA430 billion on the WAEMU market, i.e. around 71% of its annual target of CFA607 billion.

Esaïe Edoh

In a bid to cut debt costs, Togo's public administration is rethinking its external debt and capital mobilization strategy, looking to concessional loans. This is outlined in the country's new Medium-Term Debt Strategy (SDMT) 2024-2026.

The strategy aims to reduce the exposure of public debt to refinancing risks by extending the average maturity of outstanding public debt and making greater use of concessional debt to control debt servicing.

"The idea is really to no longer be subject to complex or very expensive financing, particularly market financing," explained Stéphane Akaya, Secretary General of the Ministry of Economy and Finance.

The goal here is for Togo “to position itself to take advantage of concessional resources”, particularly from multilateral partners and development players such as the World Bank, the International Monetary Fund (IMF), the African Development Bank (AfDB), and the Millennium Challenge Corporation (MCC).

World Bank, IMF, AfDB…

To date, Togo has concluded or is in the process of concluding several operations with multilateral partners for concessional financing exceeding $1.5 billion. 

According to Stéphane Akaya, the country has signed a $612 million facility agreement with the World Bank under the New Partnership Framework and is set to receive nearly $400 million in financing from the IMF over the next 42 months. Additionally, Togo is on track to seal a $200 million deal with the AfDB and eyes at least $400 million from the MCC for energy and ICT development projects. Meanwhile, the German cooperation has a portfolio of nearly $100 million in the West African country. 

Achieving parity by 2026

One of the country's other objectives is to rebalance its debt portfolio towards more external debt, to achieve parity between domestic and foreign debt by 2026.

Ayi Renaud Dossavi