Faw Trucks, the renowned Chinese commercial vehicle brand, is set to make its debut in the Togolese market. Togo Best Motor Sarl (TBM), the authorized dealer of Faw Jiefang in Togo and Benin, is introducing two new vehicles in this West African nation. 

These vehicles, namely the tractor truck and the dump truck, are available in 6×4 and 8×4 configurations. They are tailored for logistics, general goods transportation, and heavy material hauling like sand and gravel.

Yang Li, the CEO of TBM, highlighted that these vehicles have been meticulously customized to meet the specific requirements of the Togolese market. This customization was the result of a comprehensive study conducted between 2018 and 2019, which included assessments of road infrastructure and local climatic conditions, particularly in Côte d’Ivoire and Ghana.

In Togo, TBM joins other established dealers including Diwa International, Van Vliet Automotive Togo, Sinocar, Japan Motors, Heavymat Togo, and SMT TOGO.

Ayi Renaud Dossavi

The Togo Digital Agency (ATD) hosts the Lomé Fintech Conference 2024 this Friday, April 19th, in Lomé. The event, organized by the Ministry of Digitalization's operational arm, focuses on innovation, sharing, and discovery in the Togolese digital ecosystem at ATD's headquarters.

Key industry players gather to discuss business opportunities within the Togo Digital Strategy 2025. The agenda includes a "crossed talk," panels, workshops, and a networking session for exchanges and synergies. Deloitte and GIZ are among the expected participants.

On the same date, awards will be given to winners of the 228 Code Challenge, a coding competition by ATD. Register for the Lomé Fintech Conference here.

Ayi Renaud Dossavi

Togo is actively seeking to raise CFA30 billion on the West African Economic and Monetary Union (WAEMU) public securities market through a simultaneous issuance of fungible treasury bonds (OATs) and fungible treasury bills (BATs), which will close on April 26th.

As detailed in the tender document reviewed by Togo First, Lomé plans to secure CFA15 billion through BATs with a nominal value of CFA1 million, multiple interest rates, and a maturity of 364 days. The remaining CFA15 billion will be raised through OATs, featuring a nominal value of CFA10,000, an annual interest rate of 6.15%, and a maturity of three years.

The coastal nation aims to utilize these funds to finance its 2024 budget, which is balanced at CFA2,179 billion.

Esaïe Edoh

The Togolese Ministry of Trade and Local Consumption is conducting a comprehensive study of the country's digital markets. For this project, the Ministry collaborates with the Economic Community of West African States' Regional Competition Authority (ARCC).

The study  aims to evaluate competition and consumer welfare in Togo’s digital industry. According to the ARCC, it will provide valuable insights into this rapidly evolving market driven by innovation and shifting consumer preferences.

To gather crucial data, the Ministry of Trade urges users of e-commerce and digital financial platforms to fill the forms it issued as part of the study. Both e-commerce and digital financial platform users are encouraged to participate. The deadline to fill the forms is April 26, 2024.

The study falls under a larger project aimed at implementing regional competition regulations.

Ayi Renaud Dossavi

The Economic Community of West African States (ECOWAS) has dispatched a delegation to Togo, in the framework of the upcoming regional and legislative elections.

The seven-people team is led by Maman Sambo Sidikou, former African Union Representative to Mali and the Sahel. They will conduct a pre-election assessment, in line with community texts, and will, to this end, engage with stakeholders in the electoral process.

"This includes officials from state institutions and agencies, political parties, the election management body, civil society organizations, media, and partners," as stated in a press release on April 16, 2024.

After meeting with these stakeholders, the ECOWAS delegation "will submit a detailed report and recommendations to the President of the ECOWAS Commission. And the President will decide on appropriate measures to be taken, including the deployment of an Electoral Observation Mission (EOM) for the legislative and regional elections," the press release added.

The delegation will stay in Togo until April 20, nine days before the vote scheduled for April 29.

A total of CFA650 million has been disbursed for the ongoing political campaign ahead of the April 29 regional and legislative elections in Togo. The news was disclosed on April 15 by the Ministry of Territorial Administration, which made the disbursement. 

Of this sum, 325 million FCFA will fuel legislative election campaigns, while the rest will bolster regional contestants. Notably, 65% will be evenly divided among validated candidate lists, with the remaining 35% distributed based on vote shares, favoring lists securing at least 10% of votes.

The Ministry of Territorial Administration and the Ministry of Economy and Finance "assure readiness to facilitate fund disbursements, offering confidence to political players".

 Esaïe Edoh

Togo has launched into a two-week campaign frenzy ahead of its legislative and regional elections, commencing nationwide on April 13.

With over 2,300 candidates contending for the 113 deputy seats and 284 competing for regional council positions, the political landscape is bustling with activity.

The campaign will wrap up on Saturday, April 27th, 2024, 48 hours before the polls on Monday, April 29th, 2024. Notably, the Togolese Armed Forces, security forces, paramilitary forces, and operational reserve will vote early on Friday, April 26th, 2024.

These electoral deadlines were slightly postponed amid discussions surrounding proposed constitutional changes by the National Assembly. These changes aim to transition the country to a fifth republic and a parliamentary system. The revision has undergone national consultations led by Assembly members across the nation, fostering ongoing public discourse.

Ayi Renaud Dossavi

At the end of 2023, the implementation status of reforms reflected a physical completion rate of 73.6% and a financial execution rate of 61.9%. These figures were extracted from the national review of reform implementation across ministries and state institutions.

Chaired by Kpowbié Tchasso Akaya (pictured), Secretary General of the Ministry of Economy and Finance, representing the overseeing minister, the review convened via video conference. It regrouped around one hundred stakeholders including ministerial departments, state institutions, the private sector, civil society, and technical and financial partners.

The assessment zeroed in on priority reforms outlined in the roadmap and the management of public finances.

In percentage terms, the 2023 results represent a marginal dip compared to 2022, where the physical completion rate stood at 75% and the financial execution rate at 68%.

Some of the recommendations made by experts to improve the figures include launching an observatory for the quality of financial services, and better monitoring public companies. The observatory, the experts believe, will ensure compliance with both the cost and quality of services provided to citizens by banks and insurers.

Ayi Renaud Dossavi