Togo First
Togo: The 4th Edition of the FERIN Fair Begins!
The 4th edition of the Facilitation of Trade and Enhancement of Investments Fair (FERIN) started yesterday, November 1, and ends on Saturday, November 5. Hosted on the esplanade of the Palais des Congrès de Lomé, the fair is organized by the Association Terreau Fertile. The theme picked for this edition is "Investing in the Africa of Tomorrow".
This year, the innovation at the fair is the "Ferin Village". This is an event where the National Agency for Employment (ANPE) will register job seekers, and partners will receive applications and conduct on-site interviews.
At the Ferin village, visitors will also learn to secure a land deed, prepare a loan application, assist in talk shows, and attend experience-sharing sessions on good practices related to specific themes.
According to Ateitchatou Paly, Secretary General of the Association Terreau Fertile, the organization of the "Ferin Village" as a prelude to the actual opening of the Fair on Thursday, November 3, meets a “need to support job seekers and new entrepreneurs”.
For this edition of the fair, Terreau Fertile organized a competition called "T-Fertile" through which the association will back two business projects with CFA5 million.
Esaïe Edoh
Togo: AfDB’s portfolio weighs about CFA202 billion
The African Development Bank (AfDB) has a portfolio of about CFA202 billion in Togo, with an overall disbursement rate of 61.5%.
The figures were recently disclosed by Sani Yaya, Minister of Economy and Finance, at the validation workshop of the conclusions of the AfDB portfolio review in Togo for the year 2022. The meeting, concluding four days of preliminary work, was held last Friday, October 28, 2022.
The portfolio includes 17 active projects – 12 national projects, 4 regional projects, and 1 private sector project.
The most recently backed projects are the Food Crisis Support Program (with a grant of CFA3.43 billion), the PURS emergency program (with a grant of CFA851.37 million), the Sokodé Sanitation Project (with a grant of CFA787.12 million). There is also the Youth Entrepreneurship Project for investment in job-creating value chains, which the AfDB backed with CFA27.32 billion. Out of the amount, CFA13.45 billion was provided as a grant.
"We are seeing an encouraging improvement in the performance of our portfolio with the Bank," said Minister Yaya.
Sector-wise, the AfDB, in Togo, supports key sectors like transport, social, energy, and agricultural production.
Ayi Renaud Dossavi
Togo: The agenda of the upcoming SITA is now known
The program of the 8th edition of the International Exhibition of African Textiles (SITA) was disclosed last Friday. It was unveiled by the minister of culture and tourism, Kossi Lamadoko, and the SITA’s general commissioner, Abdoulaye Mosse. This happened during a press conference held for the event’s official launch.
The minister of culture, during the conference, stressed the government’s ambition to make clothing “a lever of the Togolese economy”. He then referred to the Industrial Platform of Adétikopé, saying it is “a key component in transforming cotton. And Togo, in this regard, will take advantage of the SITA to consolidate its place as a central actor in the sector.”
There will be six major events during the upcoming SITA: an international parade of traditional and modern African outfits, an exhibition sale of African textiles, an e-commerce training workshop, a fashion show for the general public, and the night of cotton.
According to organizers, there will be more than 400 textile actors, coming from 40 African countries, at the fair.
Let’s recall that last year Togo won the creativity award at the 7th edition of SITA in Djibouti. This year, the exhibition will take place in Lomé, Togo, from November 4 to 6.
Esaïe Edoh
BSIC now has headquarters in Togo
Last Thursday, October 27, the Banque Sahélo-sahélienne pour l’investissement et le commerce (BSIC), inaugurated its headquarters in Lomé, Togo. Some Togolese officials, including the minister of finance, Sani Yaya, and the minister of investment promotion, Rose Kayi Mivedor, attended the ceremony. There were also executives from the bank.
Now that it has its headquarters, BSIC will grow its presence in Togo and serve the Togolese people, said the managing director of the Togolese division, Kadidiatou Josiane Kossomi.
In line with its mission to promote investment in member countries of the Community of Sahel-Saharan States (CEN-SAD), the regional bank wants to strengthen its contribution to the national economy by financing key State projects that fall under the government’s 2025 roadmap. The BSIC, the same source added, wants to develop sustainable partnerships with economic operators in the country.
"This headquarters shows our intention to stay in Togo for an indefinite period and develop sustainable partnerships with economic operators, whether they are individuals, companies, institutions, SMEs or SMIs," said Mamadou Diouf, one of the main managers.
The BSIC has been active in Togo since 2006. It currently has 17 branches in the country but wants to open more. In 2021, the lender posted the biggest decline (-20%) in outstanding loans.
The BSIC was created in 1999, after the creation of the CEN-SAD in February 1998 in Tripoli (Libya).
Esaïe Edoh
Togo: Government adopts draft decree to further improve quality of education in tertiary institutions
Togo’s council of ministers adopted last Thursday, October 27, a draft decree on the general framework for organizing quality assurance in higher education institutions, centers, or research and innovation organizations.
The document aims to make "more visible the overall direction of the quality assurance system in higher education and research,” according to the council.
The Minister of Communication and Media, Government Spokesman, Ayewouadan Akodah, said the decree requires teaching institutions to ensure that their courses meet international standards. This is done at three levels: internal, external, and international (CAMES).
The first verification will be done by the institution itself, the second by state entities, and the last by CAMES experts, Akodah explained.
Research institutions must now have "a balanced, functional and efficient system that incorporates procedures to support internal changes in the direction of consolidating quality assurance, on the one hand, and the continuous improvement of the quality of teaching and research, on the other hand," said the Council.
According to the Minister of Communication, the measure applies to both private and public schools.
Let’s recall that the government, a year ago, in October, issued a decree to reform private tertiary education. That decree aimed at improving the quality of education and regulating the training framework.
Esaïe Edoh
Decentralization-environment: Togo secures €55 million from EU for two key projects
Last Friday, Togo and the European Union (EU) inked, in Lomé, two financing agreements worth €55 million, or just over 35 billion CFA francs, for two programs. The first is the PRSPL, a program to strengthen local public services, and the second is the PALCC+, a program aimed at supporting biodiversity protection, agroecology, and better tackling climate change.
The two agreements were signed by Sandra Ablamba Johnson, Minister, Secretary General of the Presidency of the Republic, and Joaquin Tasso Villalonga, Head of the European Union Delegation.
Out of the €55 million provided by the EU, €25 million will go to the PRSPL – €10 million as a grant and the remaining €15 million as a concessional loan. The funds help bolster the capacities of local authorities, towards improving the management of solid and liquid waste and expanding the capacities of the technical landfill center (CET) of Aképé.
The remaining €30 million, a grant, planned for the second project, the PALCC+, will help manage the protected areas of Fazao-Malfakassa, Abdoulaye, and Togodo-Mono, and build 11 monitoring stations in these areas. Besides, part of the money will serve to rehabilitate 150 km of rural roads, build 120 km of rural tracks, train over 300 charcoal burners, and distribute more than 60,000 efficient and standardized local cooking equipment.
The two programs will, according to the Minister of Territorial Administration, Payadowa Boukpessi, help improve, significantly, the living conditions of the Togolese people, especially the poorest.
"The signing of the two financing agreements comes at the right time when the government is implementing the Togo 2025 government roadmap with the vision of making Togo a country at peace and a modern nation with inclusive and sustainable economic growth," said the official.
For his part, Joaquin Tasso Villalonga, Head of the EU Delegation in Togo, said the agreements reflect the EU’s commitment to decentralization and environment in the West African country.
As a reminder, these financing signatures are part of the implementation phase of the Joint Programming Document (JPD) 2021-2027.
Esaïe Edoh
Clean Energy: Togolese start-up Energy Generation wins Ashden Award 2022
Energy Generation (EG), the Togolese start-up that works to improve energy access and develop skills, is among the winners of the Ashden Awards 2022. In its category, the start-up is a joint winner with Zimbabwe’s Zonful Energy, according to Farmers Review Africa, a pan-African media focused on agriculture.
“For their work in improving energy access and developing skills, Togo’s Energy Generation and Zimbabwe’s Zonful Energy were declared joint winners in their category,” the source indicates.
Last July, EG was picked as one of the awards' finalists and is now one of the four African winners of this prestigious award which recognizes initiatives that promote clean energy. The winners get also a $10,000 reward.
“Through our awards and at this, our first African ceremony, we are proud to celebrate and promote the groundbreaking climate solutions which will deliver a low-carbon future,” said Ashden’s CEO, Harriet Lamb, during the winners’ reveal in Nairobi, Kenya.
“Our winners and runners-up show how the continent is a hotbed of innovation, demonstrating the resilience and ingenuity of those most at risk from climate change. They also show that clean energy has the potential to create jobs -14 million in Africa by 2030 - and boost livelihoods. Green energy is a must,” he added.
The Ashden foundation will present the winners’ projects and testimonials at the upcoming COP27 in Egypt. Before that, the winners will attend the Ashden Awards global ceremony on November 2, in London.
Since 2001, over 240 innovators, worldwide, have won the Ashden award. Togo’s Rural Electrification and Clean Energy Agency (AT2ER) won this award for being “an exceptional pioneer worldwide” in the clean energy sector.
Ayi Renaud Dossavi
Togo: parliament adopts WAMU’s uniform law on factoring
On October 25, 2022, Togo’s parliament adopted the uniform law on factoring in the West African Monetary Union (WAMU), hence expanding the scope of financing instruments for businesses, especially SMEs.
"The adoption of this law comes at the right time to broaden the scope of financing instruments for SMEs/SMIs as part of the implementation of the government roadmap Togo 2025. The issue of access to bank financing for SMEs/SMIs remains a major concern for the government, which is constantly taking measures to address it," said the Minister of Economy and Finance, Sani Yaya.
According to Yaya, factoring is advantageous for companies, both in terms of security and financing. He also claimed it is a perennial solution of financing in the short and medium term.
Factoring is a type of finance where a company sells its receivables to a third party known as the factor. The receivable is materialized by a title that the company transfers through an agreement.
It (factoring) is one of the main segments on which the company African Lease Togo has specialized, alongside leasing.
Esaïe Edoh
Togo: 9th edition of SIALO to close on Nov 2
Launched last Tuesday, October 25, the International Exhibition of Agriculture and Food of Lome (SIALO) will close on November 2, 2022. This year’s edition is the ninth, and it is held at the center of exhibitions and fairs of Togo (CETEF-Togo).
Placed under the theme “Irrigation, a factor of agricultural production”, this edition takes place after a two-year break attributed to Covid-19.
The fair aims to foster interactions between actors and professionals in Agriculture, Livestock, and Fisheries, as well as the field of Agribusiness, Agri-food, and Gastronomy of Togo and the continent. It features exhibitions, panels, competitions, and masterclasses, all focused on agricultural development.
According to its organizers, irrigation, which is the main theme of the event, is one of the ways to tackle climate change.
Representatives from 15 African countries are attending the meeting. This year, Togo’s Savanes region is under the spotlight, with its recipes and cooking knowledge.
Cooperation: Togo inks MoU with UKEF to formalize their relationship
Last week, on October 18, the Togolese ministers of trade and investment promotion, Kodjo Adedze and Rose Midevor respectively, signed with UK Export Finance (UKEF) an MoU to “formalize the constructive relationship” between Togo and the credit agency.
The MoU aligns with the CFA50 billion guarantee that UKEF recently said it will provide Togo to help it build the Sokodé-Tchamba-Kambole cross-border road that links Togo to Benin.
"This first major partnership with UKEF will accelerate the Sokodé - Tchamba road project, which is part of the implementation of Togo's major road infrastructure plan," the Togolese government said.
The Togolese minister of trade, Kodjo Adedze, commented: "UKEF's contribution confirms the project’s soundness and viability. An affordable financing solution has been chosen by all parties to make this priority project a success for the Togolese economy.”
The MoU was inked on the sidelines of the first Franco-British forum on trade and investment in West and Central Africa. It was held a few days before the Commonwealth Flag Raising ceremony of Togo.
Ayi Renaud Dossavi