Lomé hosted the 79th session of the Executive Committee of the African Parliamentary Union (APU) on 21-22 June 2023.

Besides Togolese deputies, the meeting gathered delegates from 20 parliaments of the APU. According to the Togolese Assembly, the participants covered several issues, such as security in Africa, especially in the Sahel, the Democratic Republic of Congo, and South Sudan. They also discussed how to implement some recommendations, presented the 2022 management accounts, and worked on the 45th Conference's draft agenda, and the statement on the security situation in Africa.

Speakers expressed their gratitude to the Togolese authorities and highlighted the importance of cooperation among African countries to achieve the APU’s goals.

Pacôme Adjourouvi, the fourth VP of Togo’s National Assembly, attended the closing ceremony. He represented the Assembly’s President, Yawa Djigbodi Tsegan. There was also Binta Sanneh, UNDP’s Resident Representative in Togo.

"Our duty is to stand with governments as they draw sustainable development policies to eradicate extreme poverty and ensure the well-being of our valuable populations. It is also in the name of this hope that you have gathered here in Lomé for two days to share this African momentum," said Adjourouvi.

Established in 1976, the African Parliamentary Union (APU) is a continental inter-parliamentary organization. Its objectives include promoting the unity of action of African parliamentary institutions, serving as a forum for parliamentary dialogue and cooperation for peace, democracy, good governance, and sustainable development in Africa.

Togo wants to update its environmental framework law. Recently, stakeholders from the private and public sectors gathered in Lomé, the capital, to validate the updated law’s draft. Falling under the country’s 2025 roadmap, the update aims to modernize environmental and forestry regulations and tackle rising issues in these areas.

Before the draft’s development, the environmental and forestry regulation was examined, at the national level, and the best regulation practices, at the international level, were studied. Thus, during the recent validation workshop, participants assessed amendments to the former law and gathered all stakeholders’ suggestions and observations. The meeting was a crucial step in refining the new law before it is sent to the government's general secretariat.

The former law, it is worth noting, is 15 years old. "The 2008 Framework Law on the Environment fulfilled its mission by establishing several bodies such as the National Sustainable Development Commission, the National Environmental Management Agency, the National Environment Fund, and the Environment Policy. It has therefore become necessary to revise this legislative text and take into account emerging themes as well as mechanisms related to climate change and finance," said Colonel Koffi Dimizou, Secretary General of the Ministry.

Supported by the West African Coastal Management Program (WACA ResIP), among others, the update is part of Lomé's "environmental legislation overhaul", which lines up with the Togo 2025 roadmap. These recent developments in Togo follow draft laws on climate change and protected areas, as well as the enactment of a decree on carbon mechanisms and the recent approval of the forestry policy document.

Togo just launched a simultaneous issuance of Treasury Bonds (OATs) and Treasury Bills (BATs) to borrow CFA30 billion on the regional stock exchange.

The operation closes next Friday, June 30, 2023. The treasury expects to raise CFA10 billion from sub-regional investors via the BATs with a face value of CFA1 million, issued over a maturity of 182 days and subject to multiple interest rates. The remaining CFA20 billion should be raised through OATs, with a face value of CFA10,000 at interest rates of 6% and 6.25%, over respective maturities of 3 and 5 years.

The State will use the money to finance its budget for the fiscal year 2023; a budget that stands at CFA1,957 billion.

So far this year, Togo has raised CFA294 billion on the WAEMU market. Its latest issue, which closed on June 16, was a success. 

Esaïe Edoh

Entrepreneurs looking to apply for BOA’s CFA2 billion for the 100 Young Entrepreneurs project in Togo have until July 30 to do so. The lender announced the deadline last Thursday, June 22, on the sidelines of Meet Up 2, a gathering of young African success stories and entrepreneurs. 

Turnover of SMEs and SMIs applying for BOA’s program must not exceed CFA300 million, and they should be at least 24 months old. 

Applicants must submit innovative projects across various sectors; these projects must focus on advancing Togo’s economic development. 

Businesses selected will get financing to enable them to expand their activity and boost their earnings. 

Two months ago, the BOA received $77 million from the International Finance Corporation to cover half the risks on its loan portfolio targeting SMEs in 10 African countries, including Togo. 

Esaïe Edoh 

The Lomé-based banking group Ecobank will rely on the network of the Pan-African Payment and Settlement System (PAPSS) to facilitate its cross-border financial exchanges. The two sides inked a memorandum of understanding (MoU) on June 19, 2023, in this framework.

The agreement was signed by the Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, and the Chief Executive Officer of Ecobank Group, Jeremy Awori. The signing occurred during the opening ceremony of the 30th Annual Assembly of Afreximbank (AAM) held in Accra, Ghana.

The MoU will enable Ecobank and its subsidiaries to settle cross-border transactions via the PAPSS, a financial market infrastructure created by Afreximbank and AfCFTA. 

The PAPSS network provides a secure and efficient channel for processing payments, thus promoting intra-African trade. The partnership will, effectively, help the lender speed up its money transfers across all 33 countries it covers. It will also ensure their transparency and compliance, under the supervision of regulators, according to PAPSS. Ecobank and PAPSS’ deal aligns with the African Union's vision to boost intra-African trade and economic integration by improving financial connectivity.

"Partnerships such as the one we have signed on PAPSS are crucial for the implementation and success of the AfCFTA as well as for financial integration and economic development on our continent. We are committed to the success of PAPSS and are pleased to bring our expertise in payments and collections, across the 33 markets where we operate in Africa," said Jeremy Awori, CEO of Ecobank Group.

For his part, Mike Ogbalu III, CEO of PAPSS, welcomed his institution's cooperation with Ecobank, highlighting that it will transform the way Africans conduct their cross-border transactions.

The MoU should be implemented gradually, with the support of the Central Banks of the countries concerned. The service should be online by January 2024.

A history museum will be built in the town of Kamina (20 km from Atakpame) and a tender was recently launched to hire the project’s developer. This was announced by Togo’s minister of culture, Kossi Lamadoko.

Financed by the State, the museum’s construction should take seven months, according to the ministry. 

A former German military base, Kamina used to house a powerful transcontinental radio station and a wireless telegraph transmission center, connecting Berlin to the Namibian colony and the German fleet in the Atlantic. The site periodically hosted an art exhibition that attracted visitors and tourists.

To develop its tourism offer, Togo plans to rehabilitate several sites, including the Batamariba’s Koutammakou landscape. The latter project is expected to cost CFA3 billion. Koutammakou is known for its traditional mud tower houses, which are a UNESCO World Heritage Site. Rehabilitating the landscape is part of Togo's broader efforts to attract tourists and showcase its rich cultural and historical heritage.

Esaïe Edoh 

Alice Albright, the CEO of the Millennium Challenge Corporation (MCC), is in Togo. She met with President Gnassingbe on June 20, 2023, in Lomé, the capital. 

Je me suis entretenu ce jour avec Madame Alice Albright, @MCC_CEO, Directrice générale du Millenium Challenge Corporation.

Nous avons, dans nos discussions, évoqué le programme Threshold qui vise à accompagner notre pays dans le domaine des Tics, les réformes foncières, ainsi… pic.twitter.com/wiJ9uJXCWb

— Faure E. GNASSINGBÉ (@FEGnassingbe) June 20, 2023

The same day, Albright met with representatives of the Togolese private sector. Present at the meeting, the Togolese minister of investment, Rose Kayi Mivedor, told the US executive that Togo would leverage the MCC’s Compact Program to develop its ICT and energy industries, especially.  The country became eligible for the Program last December.

“The challenges of energy and ICTs, especially their cost, quality, and accessibility, are undeniable and are real barriers to the growth of the Togolese economy. Therefore, it is with good reason that the projects chosen by the Togo government concern the aforementioned sectors,” said the Minister.

Two months ago, Togo landed a $12 million financing deal with the MCC for its Compact Program. The West African country, it is worth noting, already benefits from the Corporation’s Threshold program. With a value of $35 million, the latter is deployed in the land and ICT sectors. 

Ayi Renaud Dossavi

Several procurement experts and stakeholders gathered in Lomé on June 20 to appraise and validate Togo’s national procurement policy. The move aligns with the Togolese authorities’ efforts to reform the procurement sector. 

This reform should, according to the country’s procurement watchdog, the ARCOP, help boost the local economy, by enhancing access to procurement and its management.

The policy "includes measures and proposals designed to strengthen the place of public procurement in the Togolese economy," said ARCOP General Manager Aftar Touré Morou.

At the two-day meeting, the minister and secretary general of the Presidency was represented by René Kapou. The policy, according to the representative, will help Togo “make procurement a major catalyst of its economic revitalization.”

The national policy’s development aligns with the government’s ambition to bolster the legal framework for public procurement and public-private partnership contracts.

Esaïe Edoh

The Islamic Development Bank (IsDB) will back Togo’s universal healthcare policy with CFA38 billion. The money will be devoted to the PR4SP, a project aiming to bolster the country’s health system and primary health care. The project was launched on June 20, 2023, in Lomé, by the Ministry of Health.

The PR4SP is a four-year project that involves building and rehabilitating nearly 30 maternity wards and purchasing equipment and rolling stock for health training.

The project should help Togo better fight communicable diseases, improve governance in the health sector, and help keep main communicable diseases (HIV/AIDS, Tuberculosis, Malaria) and snakebites under control.

According to Midamegbe Akakpo, the Chief of Staff of the Ministry of Health, the project “aligns with the government's vision, which emphasizes a quality care system that is accessible to all.”

In the past few years, Lomé took several steps to improve access to healthcare across the nation. One of the other projects that aligns with this goal is the Universal Health Insurance (AMU) project, which the government is working on.

Esaïe Edoh