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Togo: National Assembly Reviews 2025 Finance Bill
The Togolese Assembly is reviewing the 2025 draft finance bill. Started on December 6, the review is carried out by the Finance and Economic Development Committee, led by Mawussi Djossou Sémodji. The bill was approved on November 6, by the Council of Ministers on November 26.
The ongoing review is part of a parliamentary oversight framework to ensure transparency and efficiency in public policies. This step allows deputies to analyze and refine budgetary orientations in line with national priorities and global economic trends.
Kodjo Adédzé, President of the National Assembly, noted that this budgetary exercise occurs amid international economic uncertainties and financial market fluctuations. He emphasized that deputies must balance two key objectives: reducing the public deficit below community thresholds while maintaining social spending.
"Aware of this noble responsibility, I would like to invite everyone not to lose sight of the main objective: to clean up our public finances while meeting the social expectations of our fellow citizens," said Kodjo Adédzé.
After the committee completes its assessment, the bill will be presented to all MPs in a plenary session, for adoption before December 31, 2024, as required by law.
The 2025 Finance Bill outlines resources and expenses totaling CFA2,394.2 billion. Nearly half of the budget expenditure–49.7%-is allocated to the social sector. This is against 48% in 2024.
Esaïe Edoh
Togo Partners with Commonwealth to Develop AI, Renewable Energy, and Environment Sectors
Togo has signed a framework agreement with the Commonwealth to boost cooperation in several key sectors. The agreement was initialed last week in London, by Togo's Prime Minister Victoire Dogbé and Commonwealth Secretary-General Patricia Scotland.
The partnership will focus on artificial intelligence, digital transformation, renewable energy, climate finance, and enhancing skills and human capital. It aims to strengthen institutional capacities and provide training in international contract negotiation.
At the signing ceremony, Prime Minister Dogbé stated: “We aim to have a positive impact on the lives of Togolese people, especially young people, by focusing on education, health, social protection, and access to essential services such as water and energy.” She expressed optimism about the potential benefits of digital technology and AI for Togo's future.
This agreement follows discussions from the Commonwealth Heads of Government Summit (CHOGM) held in Samoa last October. Togo has previously benefited from scholarships through the Commonwealth Scholarship Commission and is set to join the Commonwealth Games Federation in 2023.
Esaïe Edoh
Togo Opens Candidacy for Senatorial Elections from December 17
Candidates for Togo’s coming senatorial polls must submit their applications between December 17 and 23. The Independent National Electoral Commission (CENI) disclosed the dates on December 6.
According to the CENI’s eligibility criteria, candidates must be Togolese by birth, at least 35 years old on election day, and registered on an electoral roll. Candidates must be able to read, write, and communicate in the official language. Each candidate must have a deputy who meets the same requirements.
After the nomination period ends, CENI will publish a provisional list of candidates before sending it to the Constitutional Court for final validation within 72 hours.
These senatorial elections mark a significant moment in Togo's political history. In total, 41 senators will be elected to represent the country's 39 prefectures. Each prefecture will have one senator, except for Golfe and Agoè-Nyivé, which will each have two senators. Additionally, 20 senators will be appointed by the President of the Republic as per the new Constitution.
Esaïe Edoh
WAEMU: BCEAO Keeps Key Interest Rates Steady Amid Inflation Concerns
The Central Bank of West African States (BCEAO) has decided to keep its main key interest rate at 3.5%, unchanged since late 2023. This decision was made during the 4th Monetary Policy Committee (MPC) meeting on December 5, 2024, in Dakar, reflecting a cautious stance as inflation remains above the 3% target for the West African Economic and Monetary Union (WAEMU) zone.
BCEAO Governor Jean-Claude Kassi Brou reported that inflation stabilized at 4.1% in the third quarter of 2024, with an expected average of 3.6% for the year. However, he warned of potential risks for inflation in 2025 due to factors like climate conditions, geopolitical tensions, and fluctuations in energy and food prices.
On the macroeconomic front, the UEMOA zone is experiencing strong growth, projected at 6% for 2024, up from 5.3% in 2023. Efforts to mobilize external resources and improve trade terms have bolstered foreign exchange reserves. Additionally, the budget deficit has decreased to 4.5% of GDP from 5% the previous year.
Despite these positive developments, BCEAO remains cautious about external vulnerabilities and inflation pressures, which justifies keeping the key rates steady. “In the coming months, the Monetary Policy Committee will continue to monitor inflation and the economic, financial and monetary situation. If necessary, it will take appropriate measures to ensure the Union's monetary and financial stability,” said Jean-Claude Kassi Brou.
Ayi Renaud Dossavi
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Togo: First Senatorial Elections Scheduled for February 2, 2025
Togo will hold its first senatorial elections on February 2, 2025. The government announced the news on December 4, 2024, via a press release.
The electoral campaign will begin on January 17 and end on January 31. Male and female candidates must deposit CFA300,000 and CFA150,000 to the Treasury, respectively, within 48 hours of publishing the provisional list of candidates.
The coming polls will help establish a second parliament chamber, as the country transitions into its Fifth Republic with a parliamentary system.
Ayi Renaud Dossavi
Togo Secures Solar Energy Deals with RELP and Chinese HAIER
Togo just inked two solar energy agreements with the RELP association and Chinese company HAIER. The deals were sealed on December 5, during the first West African Energy Cooperation Summit in Lomé.
The first agreement with RELP focuses on enhancing Togo's solar energy storage capacity. This will improve the Battery Energy Storage System, allowing excess energy produced during the day to be stored for nighttime use, according to Minister Robert Eklo. He emphasized that this will boost storage capacities for projects like the Blitta power plant, and future developments.
"With RELP, we'll be able to increase this storage capacity, not only on the Blida solar power plant, but on the upcoming one in Sokodé, on the upcoming one in Dapaong, on the upcoming one in Awandjélo in Kozah, and on the other solar power plants that we're going to have to deploy to reach 50% of the energy mix in 2030," explained the minister.
The agreement with HAIER will provide technological support for Togo's solar initiatives. This follows a memorandum of understanding signed last September, at the China-Africa FOCAC Forum in Beijing. "Haier is expected to contribute its technology to Togo's photovoltaic project. It's a memorandum of understanding that has yet to be given substance, but we have no doubt that given the friendly ties between China and Togo...this will translate very quickly into other photovoltaic and energy storage projects in Togo," officials stated.
Currently, Togo has over 130 MW of renewable energy.
Ayi Renaud Dossavi
Togo: Large Businesses Association Proposes Four Initiatives to Boost National Economy
The Large Businesses Association of Togo (AGET), led by President Jonas Daou, proposed four new initiatives to boost the economy. This announcement was made in Lomé on December 4, during a meeting organized by the Executive Secretariat of the State Private Sector Concertation framework. The proposals focus on simplifying and stabilizing taxes, revising public procurement procedures, investing in infrastructure, and combating fraudulent imports.
Simplifying tax mechanisms and ensuring stability in tax policies would lower administrative costs for businesses. This could reduce uncertainties that deter investors, especially foreign ones, and promote long-term investments. According to Jonas Daou, significant reforms could make Togo's business environment more competitive and appealing.
The proposed revision of public procurement procedures aims to enhance transparency and improve resource management in public contracts. This reform would strengthen oversight and introduce stricter practices.
Investing in infrastructure, particularly in transport and energy services, is expected to lower operating costs and increase the competitiveness of Togolese companies in regional and international markets.
Lastly, addressing fraudulent imports is a critical priority, as these practices often involve illegally imported or counterfeit goods that create unfair competition and harm compliant businesses. Private sector stakeholders view the AGET’s proposals as essential. They complement recent requests for tax relief in the agricultural sector.
Esaïe Edoh
Togo: Koutammakou Cultural Site to Launch New Management Plan for 2025-2027
The Koutammakou cultural site, a UNESCO World Heritage Site since 2004, will receive a new management plan for 2025-2027. This plan was approved on December 4, 2024, by the National Commission for Cultural Heritage (CNPC) in Nadoba, located 420 km north of Lomé.
The plan is based on recommendations from international organizations, including the World Heritage Centre (WHC) and ICOMOS, which emphasize involving local communities in preservation efforts. The Koutammakou site faces threats from climate change, urban pressure, and modern construction methods that compromise its traditional architecture.
The new management plan is part of a broader project titled "Actualisation du plan de gestion et de conservation du site Koutammakou, le pays des Batammariba."
The government announced a CFA3 billion FCFA project in February 2023 to develop the site further.
Esaïe Edoh
Togo Launches Price and Quality Control Operations in Markets
Minister of Trade and Local Consumption Rose Kayi Mivedor visited the Adawlato and Adidogomé markets in Greater Lomé last week.
She was with various trade inspectors to ensure that sellers are complying with regulations regarding product prices, quality, and the protection of perishable goods. This operation is part of a broader effort to monitor markets and control prices while ensuring the quality of essential food products.
The initiative seeks to boost consumer confidence and promote local products.
"We want to guarantee product safety and support local consumption," said Minister Mivedor. The operation also aims to prevent traders from selling expired goods, especially during this festive season when retailers often rush to clear their stocks. The minister warned that sanctions would be enforced for violating standards, and inspections would continue nationwide.
West African Cooperatives Gathered in Lomé to Assess Their Digitalization Level
The Togolese capital, Lomé, is hosting a meeting focused on the DigiCoop WA Project, launched two years ago. Participants–West African finance cooperatives–are reviewing their digitalization efforts since the project kicked off. The meeting started on December 2.
Backed by Switzerland, DigiCoop WA spans several countries including Togo, Benin, Burkina Faso, Mali, and Senegal. It aims to enhance living conditions for populations—especially women, small producers, and youth—by improving access to digital financial services through cooperatives and mutuelles. Over the past two years, more than 240,000 individuals have begun using these digital services.
"While progress has been made thanks to the efforts of public authorities and partners, it must be recognized that much remains to be done", said the Chairman of the Board of Directors of Togo's Faîtière des Unités Coopératives d'Epargne et de Crédit (FUCEC). Therefore, the Lomé meeting aims to establish new commitments to strengthen ongoing efforts.
Digital financial service usage in the region has surged from 26.2% in 2012 to 67.2% in 2021, largely driven by e-wallet adoption—3.5 million users in Togo as of 2024. However, there are still issues regarding service pricing, interoperability, telecommunications reliability, and data security.