Togo First
Togo: Government Teams Up with Private Sector to Set Up Anti Fraudulent Import Body
Togo should soon have an organization for monitoring fraudulent imports. In this framework, the government and private sector of the country have teamed up.
The project aims to better tackle unfair competition and ensure fair market competition. It was announced just after the last meeting of the Consultation Committee between the State and the Private Sector. Held on August 7, this meeting, the second of the year, was chaired by Sani Yaya, Minister of Economy and Finance. It brought together various officials, as well as representatives from the private sector, including the Chamber of Commerce and Industry of Togo (CCI-Togo).
The monitoring framework for fraudulent imports will be coordinated by the Executive Secretary of the Consultation Committee, Moyeme Baniab, a senior banking executive.
Besides covering the framework’s establishment, participants at the meeting also assessed progress made respective to the previous meeting’s recommendations and evaluated the private sector's commitment to public procurement. It appears that significant progress has been made, especially in resolving issues related to land tariffs at the Port of Lomé and fiscal appeal bodies.
The Committee also announced an upcoming satisfaction survey of the private sector. According to Minister Sani Yaya, this survey will be conducted by the National Institute of Statistics and Economic and Demographic Studies (INSEED), and will provide feedback on the reforms undertaken, with the aim of continually improving the quality of public services.
Ayi Renaud Dossavi
Togo seeks CFA35 billion on the WAEMU market this week
Togo launched last week a simultaneous bond issue on the WAEMU market. Set to close on August 11, the operation has a target of CFA35 billion.
In detail, Lomé has issued fungible treasury bills or BATs and fungible treasury bonds or OATs. The former securities have a nominal value of CFA1 million, multiple interest rates, and mature over 364 days. The latter, the OATs, have a nominal value of CFA10,000 and interest rates of 6% and 6.25%, with respective maturities of 3 and 5 years.
According to the issue notice, Togo will use the proceeds to finance its budget for 2023. The latter stands at CFA1,957 billion.
Esaïe Edoh
Togo: Port of Lomé Gets Fourth Tugboat from Boluda Towage
Boluda Towage, one of the global leaders in sea towing, delivered Togo’s Autonomous Port of Lomé its fourth tugboat last week. Edem Tengue, Togolese Minister of Maritime Economy, Fishing, and Coastal Protection, announced the news on Twitter.
The new boat is intended for the outfitting, docking, and rescue of commercial ships. It should boost the towing capabilities of the Lomé container terminal (LCT), particularly for mega-ships. Also, the boat should improve the operational capacities of the port and sustain Lomé’s competitiveness against the ports of Abidjan and Tema in West Africa, as well as the port of Lekki in Nigeria, whose activity has recently developed.
According to Minister Tengue, "The official inauguration ceremony for this new tugboat is scheduled for September 2023."
The arrival of the new tugboat was agreed upon last May between Antonio Bordils Montero, CEO of the multinational BOLUDA, and Edem Tengue, during a meeting.
Esaïe Edoh
Greater Lomé: Money Transfers to Poor Households Starts
Under the additional phase of the Basic Social Safety Nets program, monetary transfers to disadvantaged households started July 31 in Lomé. The project covers 26,250 vulnerable households from 35 neighborhoods in the munipalities of Agoè-Nyivé 1, 4 and 6, Golfe 1, 4, 6.
The launching ceremony, held on July 31 as well, was attended by representatives of the beneficiaries of the ANADEB (National Agency for Support to Development at the Base) which is the government’s operational arm on the project. Also in attendance was the Minister of Grassroots Development, Myriam Dossou-d'Almeida.
"This new phase places particular emphasis on the socio-economic resilience of the 15,000 poorest households. These households naturally benefit from specific support for the development of AGRs, to permanently escape from poverty beyond the project," the official said.
A 61% completion rate
"Out of 125,000 households targeted nationally by the additional financing of the FSB project, 75,988 have already received their first payment of 15,000 FCFA. We are in the proportion of 61% coverage of the national target," said Katanga Mazalo, head of ANADEB. "As for economic inclusion measures, 8,025 households have benefited from monetary transfers out of a forecast of 15,000, to promote their access to economic inclusion opportunities," he added.
The additional phase of the basic social safety nets project is jointly supported by the State, the World Bank, and the French Development Agency, AFD. The former provided 10 billion CFA and the latter 6.5 billion CFA. Meanwhile, the Togolese State itself disbursed 1.5 billion CFA for the initiative.
Ayi Renaud Dossavi
Togo: Minister of Energy Launches Major Electrification Project in the Savanes Region
A major electrification project was launched yesterday, July 31, in Togo’s Savanes region. The project, which covers 18 localities of the region, was launched in Gbargou-Gbangbagou by the Minister of Energy and Mines, Mawunyo Aziablé.
The new project, according to reliable sources, aims to expand the grid in this region of the country and to stabilize the socio-economic and security situation in northern Togo. It complements another project to install 50,000 autonomous and intelligent solar streetlights which was launched last April by President Faure Gnassingbé.
Both projects fall under the Emergency Program for the Savanes region (PURS) The latter aims to make the region more resilient amidst jihadist attacks.
The PURS, according to Lomé, requires an investment of CFA200 billion. The government, back in February, estimated that technical and financial partners (PTF) had already mobilized CFA150 billion for the program.
Earlier in 2022, CFA50 billion had been committed and had improved the rural road network by 15 to 20%, provided access to drinking water for 80,000 people, and supplied electricity to an additional 15,000 households.
Esaïe Edoh
Telecom: WAEMU Experts Meet to Discuss AI, Tariffs and the Sector’s Future in Lomé
Lomé hosted last week the 14th meeting of the Committee of National Telecommunications Regulators from WAEMU Member States (CRTEL). The event gathered experts from the eight countries to discuss the major challenges facing the sector.
Three topics dominated the talks: how to further reduce regional communication rates, ensure better quality of service, and incorporate the advancements of artificial intelligence in regulation.
According to Togo’s telecom watchdog, the ARCEP, over the past two years, communication tariffs have been reduced in Togo. Reportedly, mobile and fixed internet rates fell respectively by 67% and 64%, on average.
Nevertheless, the quality of service remains a critical issue. In this regard, regulations at various levels seem to be banking on technology. This is the case for ARCEP-Togo, which started using digital tools like "MyPerf by ARCEP" and supervision platforms that integrate AI.
While AI use in telecommunications is still in its infancy in West Africa, the recent meeting in Lomé testifies to a shared desire to dive deeper into this area. However, using AI raises various concerns. Some of these include the implications of the technology, relative to regulation, data protection, and job creation, among others.
WAEMU experts, aware of the stakes, agreed on the need for close collaboration to meet these challenges. Their work is just beginning, and the decisions taken in Lomé could well shape the future of telecommunications throughout the region, according to the report of the CRTEL meeting.
One clear thing is that WAEMU aspires to a deep digital transformation, as evidenced by the Togo Digital 2025 plan and other similar plans in other Union countries. This vision needs appropriate regulation, innovation and regional cooperation to come through. So far, however, concrete steps to contribute to this goal are few.
Fiacre E. Kakpo
Togo: Tax Office Extends Payment of Capital Gains Tax or TPV to Partial Transfer of Land Deeds
In Togo, capital gains tax (TPV) has been extended to partial transfers of land deeds. The measure takes effect today, August 1, according to the Togolese Tax Office (OTR)
In a statement addressed to the users of the Directorate of Cadastre, Land Conservation, and Registration (DCCFE), the OTR notes that the measure applies to "all new requests for partial transfers (subdivisions) of land titles". The measure is in line with the provisions of the General Tax Code of Togo, it is reported.
Before the update, the TPV was only levied on full transfers. It is a tax due by individuals or partnerships for the sale or transfer of real estate or real estate rights, except for exemptions prescribed by law.
The tax is also due on capital gains made by resident or non-resident individuals or corporations in Togo who directly or indirectly transfer shares or shares in companies registered in Togo. This is also the case for capital gains from sales made by individuals or corporations who directly or indirectly transfer mining titles or operating licenses issued by the Togolese authorities.
Esaïe Edoh
WAEMU Securities: Togo raises CFA36 billion in latest issue
Togo's treasury raised 36 billion CFA on the WAEMU market last Thursday, July 27. However, that is the sum retained from the issue. Lomé actually secured 39 billion from 36 investors. The operation thus recorded a subscription rate of 111.41%, since its initial target was 35 billion.
According to the operation's report, Togo raised FCFA19 billion via the 182-day BATs and FCFA17 billion via the 3- and 5-year OATs with interest rates of 6% and 6.25%.
Parts of the funds raised will help to finance Togo's 2023 budget. Adding the recent proceeds, Lomé has raised 466 billion FCFA so far this year on the regional market. That is over ¾ of the country's annual target of CFA574 billion, for 2023.
Esaïe Edoh
Togo's Exports Hit 211.8 Billion FCFA in Q1 2023, (INSEED)
Togo's exports reached about $382 million or CFA211.8 billion in Q1 2023. By volume, the exports stood at 886,575 Mt, according to the National Institute of Statistics and Economic and Demographic Studies (INSEED).
Comparing Q1 2023 to Q1 2022, exports, by value, grew by 11.4%. Compared to Q4 2022, the exports were down by 5.5% and 1.8%, respectively, by value and size.
Phosphates, Soybeans, and Plastic Products Lead the Pack
Over the first quarter of 2023, the country's top 10 export products represented 63.5% of the total value of exported goods.
Phosphates were the most exported products in Q1 2023. They accounted for 19.6% of the quarter's exports, with a value of 41.57 billion FCFA (around $75 million USD).
Soybeans followed. In the quarter concerned, Togo exported 43,654.8 Mt of the cash crop. This earned the country 14.8 billion FCFA (approximately $27 million USD), or 7% of the total exports.
Rounding up the top three were "bags, sachets, pouches, and cones of plastic". They generated 14.18 billion FCFA (about $25.6 million USD), making up 6.7% of national exports.
Other Top Ten Products
In fourth place was another cash crop product, refined palm oil and its fractions, worth 11.52 billion FCFA (roughly $20.8 million USD), or 5.4% of exports. Beauty or prepared makeup products came fifth, and accounted for 11 billion FCFA (almost $20 million USD), or 5.2% of exports.
From sixth to tenth place, the country exported: soybean oilcake and other solid residues, worth 10.7 billion FCFA (about $19.3 million USD), or 5.1% of sales; petroleum bitumen and other residues of petroleum oils, valued at 9 billion FCFA (approximately $16.3 million USD), or 4.3%; bituminous petroleum oils (8.4 billion FCFA, around $15.2 million USD, or 4.0%); clinker, valued at 6.69 billion FCFA (about $12 million USD), or 3.2%; and finally, motorcycles with a displacement exceeding 50 cm3 but not exceeding 250 cm3, re-exported at a value of 6.42 billion FCFA (roughly $11.6 million USD), or 3.0%.
Togo's top three buyers, in Q1 2023, were India (accounting for 19.3% of the quarter's exports), Burkina Faso (10.1%), and Benin (8.7%).
Ayi Renaud Dossavi
Togo: 12,000 t of Mangoes Exported in 2022
Togo exported 12,800 t of mangoes last year, up from 10,400 t the year before. The data comes from the Interprofessional Council of the Mango Sector (CIF Mangue). Exports made up 25.3% of the country's total output in 2022.
Year on year, Togo produced 31% more mangoes last year than it did in 2021. That year, reports show that the country produced 38,500 t.
In the past three years, Togo's mango production rose gradually, despite Covid-19 and the pressures it induced. The resilience is attributable to processing which increased over the three-year period. There are about ten processing units in Togo, and in 2020, 2021, and 2022, they processed 8,000 tons, 12,800 tons, and 10,200 tons respectively.
The main varieties produced in the country are Kent, Palmer, Eldon, and Somnole. All five regions of Togo produce them, but the maritime and central regions have the highest concentrations.
The maritime region produced 17,700 tons in 2022, with the cities of Vogan, Tsevie, and Badja as production hubs. In total, 136 producers contributed to the production effort in this coastal region of the country.
The central region, the country's top production region in 2022, claimed 20,980 tons or 41% of the national output. Sotouboua, Sokodé, Adjengré, Tchamba, and Sada are the main production centers there.
The Plateaux region produced 8,050 t. In the region, Kpalimé, Agou, Lavie, Kpélé, Agbonou, and Sada are the biggest producers.
The Kara and Savanes regions respectively contributed 1,650 tons and 2,120 tons of mangoes in 2022.
It is worth noting that the Togolese Ministry of Agriculture and stakeholders in the mango sector recently adopted a five-year investment plan for the mango sector. Under the plan, the country will pour 1.715 billion to develop the sector over the period concerned.
Ayi Renaud Dossavi