Togo First
Ivorian fintech CinetPay secures $2.4M seed funding to expand its activities in francophone Africa
CinetPay, an Ivorian payment gateway active in many African countries including Togo, has secured $2.4 million (CFA1.4 billion) in seed funding from 4DX Ventures, a Pan African venture capital fund, and unicorn Flutterwave. The financing will enable the startup to expand its digital payment services in francophone Africa.
CinetPay said it will “boost its sales and marketing efforts across the markets in West and Central Africa.” “Our vision is to be the first payment aggregator in Francophone Africa by 2025. First in terms of our geographical presence in 15 countries in Francophone Africa. First in terms of innovation, first in terms of market share,” said Idriss Marcial Monther, founder of the startup.
For Flutterwave, the partnership with CinetPay is a diversification from the mobile money moves the unicorn has made, notably by partnering with MTN to enable a set of businesses to receive MTN mobile money via the gateway.
According to Olubenga Agboola, CEO of Flutterwave, the goal is to “simplify payments on the continent.”
CinetPay operates in nine French-speaking African countries, namely Ivory Coast, Senegal, Cameroon, Mali, Burkina Faso, Togo, Congo, Guinea, and Benin. It allows merchants and e-merchants to accept money payments from more than 130 mobile money operators, bank cards, and digital wallets. It started operations in Togo in June 2020.
Esaïe Edoh
Bboxx and EDF have more than 50,000 customers in Togo
Bboxx, a British solar energy startup, has 50,000 customers in Togo. The firm owes this performance to the government’s efforts to democratize access to reliable, clean, and affordable electricity in the country.
Bboxx and EDF are involved in the government’s CIZO scheme to boost access to power in Togo. As part of the program, the British startup provides solar panels to households and SMEs, as well as solar-powered pumps to farmers. So far, it has impacted more than 200,000 Togolese people.
Now, “the ambitions of Bboxx EDF Togo for the next two years include distributing 50,000 more domestic solar panels and 5,000 solar-powered water pumps.”
To this end, the firm plans to collaborate with the government to boost agricultural production, via a partnership with the ministry of agriculture.
Under the CIZO, Bboxx plans to soon deliver smartphones to Togolese citizens on a pay-as-you-go model. It has already signed an agreement with the government in this framework.
Esaïe Edoh
ECOWAS: Land borders may reopen on January 1, 2022
After remaining closed for the past two years, land borders in the ECOWAS land region could reopen next month, on January 1 to be exact. The date was suggested on December 6 during a meeting gathering some of the region’s ministers and the West African Health Organization.
The recommendation, which was addressed to ECOWAS presidents, includes the effective implementation of harmonized instructions at the borders, mutual recognition of PCR tests for Covid-19, and the harmonization of their period of validity.
“The recommendation was made based on the lessons learned over the two years the borders were closed. The pandemic has disrupted demand, supply, and investments in key economic sectors. It has also negatively impacted trade and people’s movements,” the meeting’s participants declared.
Due to the closure, ECOWAS States lost 6.7% of their GDP between 2020 and 2021, the officials estimated yesterday. This corresponds to about $50 billion. The losses show that reopening borders is important for economic recovery and it is “a fundamental issue.”
The suggestions will be presented next Thursday and Friday in Abidjan, during the ECOWAS ministers’ council. They will be subsequently sent to heads of State and government for adoption.
Let’s recall that ECOWAS leaders decided to shut their borders to stymie the spread of the Covid-19 virus across the region.
Esaïe Edoh
Gozem to soon start offering digital banking services
Known for its eponymous transport and delivery app, the Gozem startup recently revealed plans to offer digital banking and lending services.
In effect, the company wants to enable its users to exchange cash for mobile money, via the Gozem app. "What we are trying to offer is an integrated portfolio solution included in a group of different services,” the startup explained.
Gozem’s projected banking offer will resemble that of SafeBoda, the Uganda-based two-wheel transport platform. With it, the Lomé-based firm intends to revolutionize technology in Francophone Africa. "Almost 95% of the money and attention concentrates in four, five African countries... Nigeria, Ghana, Kenya, South Africa, Egypt," noted Gozem co-founder Raphael Dana, while pointing out that "French-speaking Africa is a bit left out on all the important tractions.”
To win its bet, Gozem plans to leverage its existing network of drivers and sellers which spreads across 13 cities in the French-speaking Africa region.
Let’s recall that Gozem recently raised CFA3 billion to expand this network further and develop its products.
Esaïe Edoh
Lomé and Libreville explore new ways to bolster bilateral cooperation
Gabon and Togo are looking for new ways to boost their cooperation for the benefit of their respective populations. A meeting was held in Lomé last week in this framework. It was chaired by the Togolese Prime Minister, Victoire Dogbé, and her Gabonese counterpart, Rose Christiane Ossouka Raponda, who was in Togo on a 48-hour official visit.
Participants discussed topics related to various sectors, including agriculture, the digital industry, and the wood sector, among others.
Relative to agriculture, the two delegations stressed the need to have a participative strategy, a national plan to allocate lands, and a fishery exploitation system. They did so after reviewing issues related to the sector’s potential, production, investment opportunities, the infrastructure servicing farming areas, the energetic cost of processing facilities, land, and importing fishery products.
Regarding digitization, the Gabonese and Togolese officials said they need to launch cooperation axes to implement the different components of the Novissi project as well as innovative ways to handle the health crisis in Gabon.
For the wood industry, both parties committed to continuing talks about a memorandum of understanding toward establishing a cooperation framework that will foster legal supply and acquisition of wood between them. In line with this objective, Togo intends to, according to its presidency, “emulate Gabon’s successful strategy regarding wood processing, and proceed to the efficient installation of a wood-processing unit at the Adétikopé Industrial Platform (PIA).” In this regard, “the State of Togo will also be able to benefit from Gabon's carbon credit mechanism, which will enable it to support its reforestation plan.”
During Gabon’s PM visit, her delegation visited the Grand Lomé technical landfill. Credible sources reported that they subsequently expressed interest in taking advantage of Togo’s experience in terms of urban waste management.
Officials from the two nations also discussed issues about inclusion and social protection, communication, transport, maritime economy, and institutional relations.
Togo and Gabon, let it be recalled, have been cooperating for several years, notably in the above-mentioned sectors.
Esaïe Edoh
Togolese startup Confordia launches platform for booking accommodation and organizing events
Last Saturday, Togolese startup Confordia launched Confordia.com, a platform that handles accommodation and events. The launch took place in Lomé, the Togolese capital.
The platform, according to the platform’s promoters, was launched because they identified a demand for the service - accommodation seeking (furnished apartments and hotels) in Togo, especially within its inland areas. "Visitors often express this need, but there is no digital solution to meet their expectations. Our initiative is, therefore, a solution to this need," said Anselme Efu, MD Confordia and the man behind Confordia.com. The startup already boasts 70 partnerships with accommodation facilities in Togo.
Besides accommodation, Confordia also “helps organize events, from the planning stage to the effective launch, handling logistics and equipment delivery, or providing auxiliary services like providing hostesses, decoration, catering, and more,” Efu revealed.
How does the platform work ?
First, users need to fill a form on the website, 48 hours later, they receive available offers matching the information that was provided on the form. While facilitating interaction between businesses and individuals, Confordia does not charge its users. Soon, the company plans to introduce digital payment tools.
It should be recalled that Anselme Efu, Confordia’s boss, won the Digital Marketing award at the 2019 Afro Marketers Awards.
Séna Akoda
Telecom: Six major facts to know the fixed internet market in Togo (2019-2020)
Over the past three years, the quality of landline internet has improved significantly in Togo. This is reflected by greater access to fiber optics in Lomé, and major investment commitments by operators. Togo First looks at the progress made in the sector in this article.
Access to landline internet bolstered amid Covid-19
The number of landline Internet subscribers in Togo increased by more than 65% to 52,707 in 2020. This surge, fostered by the social distancing measures linked to the Covid-19, was mainly driven by Togo Telecom and GVA Togo (Canalbox). While Vivendi's subsidiary was the main driver of this growth (+207%), the subscriber base of the Togolese incumbent operator has also increased considerably, up 38% to more than 32,500 subscribers.
Canalbox drives growth in the sector
Sustaining its 2019 upward dynamics, Canalbox - Togolese subsidiary of Vivendi group - more than tripled its number of fiber-optic customers in 2020. From 5,945, the figure soared to 18,720 (+207%). While impressive, this performance is still lower than the growth recorded in 2019, knowingly 404% (1,180 in 2018 against 5,945 in 2019).
In terms of revenue generated, the Internet Service Provider reached almost a billion CFA (990 million) in 2020, up by 230% compared to earnings generated in 2019 (where the figure had jumped by more than 400%).
Fiber-to-the-home: Canalbox overtakes Togo Telecom
Canalbox, therefore, snatched the place of the best provider of fiber-to-the-home (FTTH) internet from Togo Télécom last year. This is despite the latter gaining 56% (reaching 11,124) more customers over the period reviewed. On that segment, Canalbox’s subscriber base has passed the 18,000 mark.
Togo Telecom still leads ADSL and dedicated lines markets
Although it has lost its leadership position in the optical fiber segment, the incumbent operator continues to control the other access technologies. For ADSL, subscriptions have risen by 35%, while connections via dedicated lines have increased by 42%.
Togo Telecom alone accounts for more than 68% of landline Internet subscriptions, compared with 38% for CanalBox. Better still, with a turnover of 7.6 billion FCFA, up 35%, the TogoCom subsidiary now holds 86% of that market, far ahead of GVA (990 million FCFA, 11%), CAFE Informatique (227 million FCFA, 2.6%) and Teolis (42 million FCFA, 0.5%).
Café Informatique continues its fall from grace
Last year, Café Informatique lost more customers while the other ISPs active in the country experienced a pandemic-induced boom. From 2,334 clients in 2019, the company which is headed by Jean-Marie Noagbodji had 1,768 clients in 2020. The downward performance also spread to the firm’s income; it fell by 33% to 227 million FCFA from one year to the other.
“No-investment” policy
Besides Togo Telecom which increased its investments in 2020, other operators were prudent in 2020, lowering their spending.
Fiacre E. Kakpo
Togo urges other African countries to massively adhere to the Single African Air Transport Market
Affoh Atcha Dedji, the Togolese minister of transport, represented Togo at the 33rd plenary session of the African Civil Aviation Commission in Kigali, Rwanda. During the event, he stressed the need for African countries to adhere to the Single African Air Transport Market (SAATM).
Dedji also talked about the benefits of the SAATM which already has 35 members.
Launched in 2018 by African heads of state and government, the SAATM falls under the African Union (AU) 2063 Agenda. Its main goal is to liberalize and unify African airspaces. As such, it should increase connectivity on the continent and promote the development of the aviation sector, tourism and trade.
President Faure Gnassingbé was picked as the AU’s champion for the initiative.
Esaïe Edoh
Education: Togolese government to soon begin major classroom construction project
The Togolese ministry of education will start building 30,000 classrooms across the country on December 20, 2021. The project is named “Increasing school capacity”.
The head of the ministry, Komla Kokoroko, said it will also include rehabilitation works and the supply of equipment. The project aligns with the government’s 2020-2025 roadmap.
According to our sources, the government gives special attention to education in Togo. As such, this year, the sector was allocated CFA195.5 billion or 25.1% of the budget set for ministries and public institutions in the country. This is against CFA123 billion (16.3%) in 2020.
Esaïe Edoh
Togolese capital will host the 7th edition of Gabon-Togo mixed commission
Lomé will host the seventh edition of the Gabon-Togo mixed commission. The request was made Thursday by Gabon’s PM, Rose Christiane Ossouka Raponda, as she met with the Togolese President, Faure Gnassingbé.
While the date of the event is yet to be disclosed, it is known that it will gather officials from both countries who will share their experience towards achieving their respective development goals.
The upcoming event should help Togo and Gabon “define new mechanisms to leverage investment and development opportunities to profit the people of these sibling countries.”
Last Monday, Togolese and Gabonese ministers had a working session in the framework of the event. It took place in Lomé. On the occasion, they discussed mainly issues related to youth, women, the environment, sustainable development, and digitization.
It should be recalled that the two States cooperate in many areas, including wood. Last July, they signed a memorandum of understanding to ease the export of wood products from Gabon to Togo.
Esaïe Edoh