On 27 January 2023, Togo will carry out its second issue on the WAEMU securities market. The country will attempt to raise CFA35 billion via a simultaneous issue of fungible treasury bonds and securities.

The bonds have a nominal value of CFA10,000, maturing over 3 and 7 years. Securities for their part have a nominal value of CFA1 million, maturing over 182 days.

According to the issue’s terms and conditions, proceeds should help Togo meet its budgetary needs, in a context where the budget for 2023 stands at CFA1957 billion.

For its first issue this year, Lomé raised CFA16 billion on the WAEMU market, but its target was CFA30 billion.

In 2023, Togo plans to secure CFA574 billion from the regional money market.

Esaïe Edoh 

Togo’s artisanal fishermen caught 6,687,015 kg of fish last year. Thus, 50% more than in 2021: 4,129,423 kg. 

The figures were reported last Thursday, Jan 19, by the ministry of fisheries. The output consolidates the sector’s growth; in 2020, artisanal fishing produced 3,450 t of fish.

The ministry attributes the growth to the “opening of a new fishing port and fish market in Lomé, and better working conditions for fishermen and fishmongers.” The source also mentioned the arrival of new fishermen-local and foreign. 

In Togo, the fishing sector employs over 20,000 people and contributes to nearly 4.5% of the GDP, according to the most recent data provided by the ministry of fisheries.

Esaïe Edoh 

Togo’s imports in Q3 2022 were valued at CFA511.17 billion, against CFA140.8 billion for exports. It thus recorded a commercial deficit of about CFA370 billion that quarter. 

According to the source, the National Institute for Statistics (INSEED), Belgium was Togo’s leading goods supplier during the period concerned. The value of imports from the European country stood at CFA128.16 billion (for 176,620 tons of goods), which is 25% of the total value of goods that Togo imported in Q3 2022.  

After Belgium, China was next. The value of goods imported from the Asian country was CFA68.6 billion (13.4% of the total). France followed (CFA52.5 billion, 10.3%) closing the top 3.

Then there are the Netherlands (5.5%), the United States (4.2%), India (3.7%), Kuwait (3.1%), Russia (2.4%), Malaysia (2.3%), and the United Arab Emirates (2%).

These 10 countries, together, contributed 72% of Togo’s imports in the quarter reviewed, in terms of value.

Ayi Renaud Dossavi

Last month, KingCafé, a Togolese company that is specialized in the industrial processing of coffee and cocoa, signed technical partnership agreements with Morola and Veronesi, two Italian firms that operate in the same sector. 

With the first, Morola, KingCafé landed a patent-sharing deal. The deal with Veronesi will allow the Togolese firm to improve the quality of its coffee. Paul Kpelly, founder of KingCafé, claimed that both agreements will enable his company to provide “coffee that meets international standards.”

Moreover, KingCafé will start producing new-generation coffee makers, in large quantities and at a low cost. "Thanks to these two deals, we will start assembling parts locally, and entirely manufacturing coffee makers in Togo,” Kpelly said.

Back in June 2022, KingCafé opened its capital, hoping to raise up to CFA900 million for its expansion–across the WAEMU, in Central Africa, France, and the U.S. Another goal of the firm is to boost its annual output, from 2.5 T to 150, 300 or 1,000 T. 

The firm was created in 2018 and by the end of 2021, it claimed a turnover of CFA96 million.

Esaïe Edoh 

The Togolese President, Faure Gnassingbé, met India’s Ambassador to Togo, Ram Saajiv Tandon last Tuesday. They reviewed the relationship between the two countries and talked about cooperation prospects for 2023.

"We talked about many areas of cooperation where we have made a joint effort to promote our bilateral ties in recent months. I took the opportunity to relay to the President of the Togolese Republic the wishes of the President and the Prime Minister of the Federal Republic of India," the Indian diplomat said after the audience.

In recent years, Togo and India have collaborated in the clean energy and investment sectors.

The highlight of their partnership was in June 2021. Then, Togo secured a major loan–CFA22 billion–from India to electrify 350 of its localities. India is also engaged in the Industrial Platform of Adétikopé (PIA), which is a big project in Togo.

Last year, Togo attended the 17th CII-Exim Bank Conclave on India-Africa Project Partnership Participants explored opportunities for bolstering the two regions’ partnership in the energy, trade, and industry sectors. 

Ayi Renaud Dossavi

Yesterday, Jan. 17, the Council for Foreign Economic Relations of Turkey (DEIK) and the National Council of Employers of Togo (CNP-Togo) signed a memorandum of understanding to boost their economic cooperation. 

The MoU was signed during “Togo day”, a virtual conference organized by the Togolese ministry for investment promotion and the Turkish embassy. Its goal is to dynamize relations between businesses from both countries.

The agreement will also help increase trade according to Kayi Mivedor, the minister of investment promotion of Togo.

"I take the opportunity of this event to invite the Ministry of Trade of Turkey to establish a working committee with all stakeholders in our respective countries, for the materialization of the Togo - Turkey Investment Forum, as envisaged during the Togo - Turkey political consultations that took place in 2022," Mivedor added.

Togo and Turkey have been working on bolstering their relationship for some years now. In April 2021, Turkey opened its embassy in the African country, and in October, of the same year, the Turkish President visited. During his stay in Togo, several agreements were signed to boost the relationship between the two countries.

Esaïe Edoh

Togolese holding a diplomatic passport no longer need a visa to travel to Serbia and vice versa. The ministers of foreign affairs of both countries signed an agreement to this end on January 16, 2023. The document was signed in Serbia.

"I have strengthened the ties of friendship and cooperation between Togo and Serbia through the signing today, with my colleague and friend Ivicom DAČIĆEM, First Deputy Prime Minister, of an agreement on the abolition of visas for our fellow citizens, holders of diplomatic passports,"Robert Dussey, Togo’s Minister of Foreign Affairs, wrote in a tweet. 

Besides the no-visa agreement, the two countries plan to set up a Togo-Serbia parliamentary friendship group.

The two nations also intend to boost their cooperation in the agricultural, education, and investment sectors.

Esaïe Edoh 

Togo will organize the 9th pan-African congress of Lomé in 2024. Though the exact date is still unknown, its theme is: "Renewal of Pan-Africanism and Africa's place in global governance: mobilizing resources and reinventing ourselves for action." 

Robert Dussey, the Togolese minister of foreign affairs made the announcement last week, after a forum that he co-chaired in Morocco. 

The upcoming pan-African conference will take place in the framework of the African roots decade. The latter is a Togolese initiative with 15 member countries at the moment. Its goal is to make members of the African diaspora key actors in the continent’s development. 

According to the Togolese government, the conference will be “a privileged opportunity for Africans living on the continent and outside it (the diaspora and Afro-descendants) to question themselves about their human, political, cultural, social and societal future, in an increasingly unstable world, lacking collective responsibility and collective governance involving Africa.” 

"African countries will have to think about how to invent a form of human association, political organization, and new visions to define what they want and can do for themselves and by themselves alongside other major players in the global economy and the international political scene," the same source added.

Ayi Renaud Dossavi