Togo First

Togo First

From May 16 to 31, the indicative price to the producers of superior quality cocoa has been set at CFA905 per kg, down 6% compared to the price set for the first two weeks of the month, knowingly CFA960.

Similarly, the price of Healthy Robusta coffee has been reduced from CFA860 to CFA845 per kg (-1.7%).  

The new indicator prices were disclosed by the Coordination Committee for the Coffee and Cocoa Sectors (CCFCC) which noted that they are determined based on global rates and calculated in relation to the July 2022 deadline. 

Between March 31 and May 16, 2022, the price of cocoa dropped by 6% while that of coffee rose by 1.8%, from CFA830 to CFA845.

Esaïe Edoh 

As part of the African Union’s Skill Initiative for Africa (SIFA) support mechanism, Germany’s development fund, KfW, will provide €6 million to two training institutions in Togo. The institutions, knowingly Tové’s national agricultural training institute (INFA) and FORMATEC, an institute for technological, economic, and administrative sciences, will share the funds equally. 

The related agreement was inked in Lomé on May 18, 2022, by the two institutions and the Togolese ministers for agriculture and technical education. 

More infrastructure and equipment

The agricultural institute of Tové said it would use the money to secure new research equipment and infrastructure to improve the training it offers women and most disadvantaged people.

"This project will help us improve our infrastructure. We will build an 88-place city for young girls, as part of an initiative to train the youth, women, and vulnerable groups,” said Soedji Kokouvi, Director-General of the Tové’s INFA. 

The development includes setting up a media library, an agro-food complex, a waste-processing unit, and acquiring material and equipment like tractors.

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For its part, FORMATEC said it would use the financing to build new research facilities, including a top-notch construction lab, and a renewable energy training center for 1,000 beneficiaries. 

Togo adhered to the SIFA in 2018, becoming one of the program’s eight pilot countries in Africa.

Ayi Renaud Dossavi

Initially scheduled for 3 April 2021 and postponed due to Covid-19, the gala evening of distinction of the 100 most dynamic Togolese companies will take place on May 27, 2022, in Lome. ECO Finance Enterprise, the firm behind the event disclosed the new date last Tuesday. 

According to the organizers, the 100 firms will be selected based on four criteria; expertise, innovation, market penetration ability, and impact on the national economy (through job creation).

Held since 2012 in ECOWAS countries and Gabon, the gala celebrates businesses and people that contribute to the economy.  

"It is also a dynamic that aims to promote investment" in the countries, especially "by highlighting African companies," said Djibril Barry, CEO of ECO Finance Enterprise.

 is the third time that Togo will host the event. It previously did in 2016 and 2019. 

Esaïe Edoh

The Togolese government officially started assessing its public finance management on May 17, 2022. The launch ceremony was attended by the country’s technical and financial partners, such as the European Union delegation in Togo (represented by Joaquín Tasso Vilallonga, head of its Delegation) which supports the initiative.

On the occasion, Sani Yaya, Togo’s minister of finance, said the PEFA-based assessment "covers the years 2018-2020 and will allow to better manage public finances towards implementing Togo’s projects contained in the Government Roadmap 2025."

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The assessment will be carried out in four steps: launching the evaluation, training major stakeholders, drawing and validating the methodological note, conducting fieldwork for finalizing data collection and analysis, producing and pre-validating provisional reports, and holding a restitution and dissemination workshop where the final reports will be be be presented.

Results of the assessment, which will cover the entire public administration and the ministries, are expected by the end of the year.

"The implementation of these activities will provide our country with a new basis for assessing the performance of public financial management and the consideration of gender and climate change in public management," added Minister Sani Yaya. 

Several consumer goods, imported or sold in Togo, have been exempted from value-added tax (VAT). Sani Yaya, minister of economy and finance, issued a statement in this framework last Tuesday, to inform relevant departments, including the Togolese Revenue Office (OTR), of the change.

Products concerned by the exemption include wheat flour (in 50 Kg bags), imported exclusively by SGMT (Société des Grands Moulins du Togo) and SMMT (Société des Moulins Modernes du Togo), palm oil, sweetened condensed milk in 160g cans, unsweetened milk in 1kg cans, crude palm oil and concentrated tomatoes (in 70g cans).

The Togolese government’s decision comes in a global and local context marked by high living costs and rising prices of products. 

An investment policy review (IPR) was officially launched in Lomé on May 16, 2022. 

Formally requested to the UNCTAD by the Togolese government, the review aims to draw and set up a targeted approach that will help Togo attract more FDIs and develop all the regions of the country, not only the capital.  

According to Rose Kayi Midevor, the minister for investment promotion, “the IPR will identify levers that will bolster Togo’s attractiveness, and explore new development mechanisms,” in line with the national economic policy.

Over 10 days, a UNCTAD team will meet several stakeholders (public or decentralized government, local authorities, elected officials, private sector, etc.) as part of the review. The team will identify competitiveness factors and assess the country’s potential for attracting FDIs. 

Subsequently, a report will be released, towards drawing a new investment promotion policy–one focused on local development. 

In 2020, FDIs in Togo surged by 85% year-on-year, from CFA191 billion to more than 352.5 billion. Last year, 38 projects were approved, consequent of the opening of the Adétikopé Industrial Platform (PIA). These projects should absorb CFA277 billion of investments. 

While this is good news, the main issue is that the maritime region remains the country’s most attractive region. 

Octave A. Bruce

Last night, another fire broke out at Adawolato, in Lomé’s primary market. This is the third market fire in a few weeks. The first two were in Kpalimé and Hanoukopé (Lomé). 

Firemen were called and able to contain the fire a few hours after it began. According to the first assessment of the incident, four big clothing stores were burnt. 

At the moment, the origin of the fire remains unknown. 

This is the second time that Lomé’s main market records a fire since 2013. That year, a violent fire ravaged the market. 

Also, the recent incident happened only a few days after rehabilitation works at the market resumed. 

Esaïe Edoh 

To help Togo tackle maritime insecurity, a European Union (EU) delegation is currently in Lomé to meet with local authorities. The Europeans came to Lomé on May 17 and will leave on May 19, 2022. 

They are led by Nicolas Berlanga Martinez, Senior Coordinator of the European Union for Maritime Security in the Gulf of Guinea and former head of the EU delegation in Togo. 

According to a statement from the EU delegation, the talks will focus on ways to boost cooperation between the two sides.

In addition to the meetings planned for this occasion, the delegation will visit European vessels such as "ITS Rizzo" (Italy) and "NRP Viana do Castelo" (Portugal) at the Port of Lome. This visit is part of the European initiative of "Coordinated Maritime Presences" in the Gulf of Guinea which aims to consolidate the European Union’s position as a partner and actor in maritime security by ensuring a permanent maritime presence and coverage in the areas of maritime interest established by the EU Council.

Esaïe Edoh

Tuesday, 17 May 2022 12:40

Togo reopens borders to travelers

After staying closed for over two years, due to Covid-19, Togolese borders have been reopened to travelers today, May 17, 2022.

"Movement is therefore free for travelers, provided they can present a proof of vaccination," reads a government statement published on May 16. 

The government said in the document that its decision was driven by “the slowdown in the spread of the Covid-19 disease.” 

Togo, and the other West African countries, closed their borders after recording their first Covid-19 cases in March, to contain the virus’ spread. However, a few months ago, several countries started reopening their borders.

Esaïe Edoh

The Togolese ministry of economy and finance will assess, starting from May 17, 2022, the country’s public finance management, using the Public Expenditure and Financial Accountability (PEFA) framework. The assessment was launched at Lomé’s 2 Février hotel.

"The PEFA is an assessment tool whose methodology was developed in 2005 and then updated in 2011 and 2016. Togo was the first sub-Saharan African country that used this new methodology in 2016," the ministry wrote in a statement. "This methodology consists of assessing a series of indicators relevant for evaluating the whole system and all processes of public finance management and it involves sharing information with the public," the statement further notes. 

The goal here is to “have a picture of the public finance system and assess its performance,” towards drawing new or updating existing reforms.

This is the second time that Togo will be using the PEFA to assess its public finance system. The first time was in 2008 after economic and financial cooperation resumed with the international community.

This time, in addition to the usual survey on public finance management, the authorities will look into the issues of gender and climate change. The results of the assessment will be released at the end of the year.

Ayi Renaud Dossavi

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