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."

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. 

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

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

The report of the revised update of Togo’s national trade development policy (PNDC) was validated last week. The provisional report will be supplemented by recommendations of economic operators and development partners.

The updated policy will take into account recent changes happening in the African and international economic environment and will focus on the positioning, opportunities, and capacities of trade development in Togo.

Existing since 2011, the former version of the PNDC had limitations, according to Togolese authorities. Among others, it did not take into account issues like the Covid-19-induced health crisis, or growth challenges associated with the government’s 2020-2025 roadmap. Under the latter, Togo eyes an economic growth rate of 7.5% by 2025. 

The update, it was revealed, also aligns with the government’s key goals under this roadmap–such as creating more jobs by leveraging the strengths of the Togolese economy.

Esaïe Edoh 

The World Bank is carrying out a battery of consultations with the Togolese government and various national stakeholders. This is in line with the preliminary findings of the Bretton Woods institution’s Systematic Country Diagnostic (SCD) which looks at the main barriers to and opportunities for development in a particular country. 

Thus, on May 10, the World Bank’s resident representative, Awa Cissé Wagué, met with the Togolese PM, Victoire Tomegah-Dogbe, and her ministers of investment, security, and human rights.

Then on May 14, Wagué met with the youth to get their feedback and recommendation on the SDC. More consultations should follow in the coming days, notably with deputies, the civil society, mayors, economic operators, academics, as well as with financial and technical partners. 

The SCD’s results will serve as guidelines to draw Togo’s Country Partnership Framework. 

To date, the World Bank has poured almost $400 million into 15 projects and programs in Togo, across sectors such as agriculture, health, social welfare, and telecommunications. 

Ayi Renaud Dossavi