Today, May 10, Togo is set to launch a special window where its diaspora can get information related to procedures and steps to follow, to contribute to the country’s development. 

This was disclosed by the minister of foreign affairs, Robert Dussey, on Twitter at the end of last week. Alongside the launch of this window, the action plan to boost the participation of the diaspora in the 2020-2025 roadmap will be initiated. 

“No nation can build itself and thrive without involving all its sons and daughters in the management of public affairs,” said the government during the inauguration ceremony of the 77 delegates of the High Council for Togolese Abroad (HCTE). 

To this, the then Prime Minister, Komi Selom Klassou, had added: “the HTCE is now the proven receptacle of the potential of our compatriots and it gives priority to our diaspora’s concerns.” 

To encourage investment from the diaspora, Togolese authorities took many initiatives including among others the exemption of visa for binational Togolese, the 2014 Diaspora meetings, the Diaspora Success Week, etc. 

Last February, the Assembly of Heads of State and Government of the African Union (AU) adopted a proposal by Togo to declare the 2021-2031 decade as the “decade of African roots and diasporas.”

More recently, Togo signed an agreement with France, establishing a legal framework called “Talents in common” to enable more members of the Togolese diaspora to serve the country’s development. This was during a visit by Togolese President Faure Gnassingbé to France, at the invitation of Emmanuel Macron.

Every year, Togolese abroad officially transfer nearly $500 million, or 8 to 9% of GDP, back home. These monies are mainly sent to aid families.

Séna Akoda

Togolese car dealer Diwa International has increased its equity to more than CFA750 million, after raising its capital by over CFA500 million. 

According to our sources, Jonas Daou’s company issued 55,150 new shares with a nominal value of CFA10,000, fully subscribed and paid in cash. This should allow the firm which partnered a few months ago with Morris Garage (MG) to better face its growth prospects. 

The partnership between Diwa International and the British company enables the former to sell MG cars such as the RX5 - a modern city SUV. Daou’s company however also sells CHEVROLET and ISUZU cars, in addition to industrial, automotive, and marine lubrication solutions of the following brands : ENEGEN, PETRONAS, and TEXACO. 

It should be emphasized that before entering the car sales market, Jonas Daou had established Sodigaz (now Zener), a cooking gas supplier. It is with the latter that the businessman joined the Elite Lounge BRVM program, the 3rd compartment of the Regional Stock Exchange (BRVM), dedicated to SMEs/SMIs of the UEMOA.

Séna Akoda

In line with efforts to become a digital hub by 2025, Togo plans to implement an e-ecommerce development strategy backed by a five-year project going from 2022 to 2027. 

To this end, the authorities are carrying a study to assess the e-commerce sector in Togo, and determine what is needed for the strategy to succeed. 

The move takes place as the country tries to democratize the use of digital payment modes (credit cards, mobile money, etc) by public administrations. It should, experts say, spur a boom of e-commerce in the country. 

It is important to note that in 2018, mobile money transactions alone generated CFA607 billion. Also, many private private and institutional initiatives promote online trade in many sectors, ranging from agrofood, logistics, and transport to electronics, cosmetics, etc. 

Séna Akoda

The West Africa-focused investment management and advisory firm, Brightmore Capital, will support the K-pital Race program recently launched by the Centre Urbain de Business et d’Entreprenariat (CUBE) and 20 other African incubators. 

Based in Dakar and Abidjan, Brightmore Capital, which specializes in impact investing, “will intervene in the selection, capacity building and preparation for the financing of projects in their final phase,” said CUBE’s executives.  

Established in 2016, the Brightmore Capital empowers SMEs, in the WAEMU and Guinea Conakry, that need financing going from €150,000 (about CFA99 million) to €3 million (CFA1.97 billion). Investments are made in the form of loans, equity investments or a combination of both.   

“We look for companies that have been in existence for an average of 2 to 5 years and have generated between 50 and 800 million in the sub-region. That's the potential. The growth should be exponential and not linear for many of these companies,” says Ndeye Thiaw, associate manager of Brightmore. 

The fund invests mainly in agribusiness, but also in small and medium industries, transport, and logistics. 

Klétus Situ

In the next few days, the five modern cassava flour (gari) production units projected in the Vo prefecture will be operational. The announcement was made last week by the Shared-risk Agricultural Financing Incentive Mechanism (MIFA) which is behind the project. 

“The gari factories in the VO prefecture will soon be operational. The machines have finally arrived and are being installed in the five chosen sites in the prefecture,” said an official. 

The project, it should be noted was announced after President Gnassingbé visited the concerned prefecture in November 2019. 

According to the ministry of agriculture, the facilities should boost the agricultural processing capacity of cassava in the country and improve food security subsequently. 

At the moment, Togo produces around 900,000 tons of cassava per year and it is one of the crops the country processes most. Every year, however, there is a surplus of nearly 400,000 t.

The Urban Center for Business and Entrepreneurship (CUBE) announced that from September 13 to 18, 2021, the city of Aneho would host the sixth edition of the AGAU RÂ meetings. The event, which didn’t take place in 2020 as initially planned (due to the pandemic), will be officially launched on May 8, via a webinar.

Called K-pital - Race, the coming edition, more than previous ones, should be an opportunity for young African entrepreneurs to raise funds. In this framework, CUBE’s promoter, Urbain Amoussou, and his staff teamed up with the Réseau Africain pour la Formation, la Science et l'Émergence des Talents (RAFSET), and around 20 other incubators based in 12 African countries.  

Also present will be 20 young entrepreneurs seeking financing for their projects. These project carriers will be co-opted beforehand, following a selection and support process that will take place in several stages, from May to July. Investors, business angels, and incubators’ representatives will attend as well. 

Over the first five days of the meetings, a Masterclass on investment readiness will be organized. On September 18, entrepreneurs will present their projects to investors and secure some financing commitments. 

The event is backed by Nunya Lab and the UNDP, and any entrepreneur interested in participating can subscribe through the Prime web platform.

Klétus Situ

A new legislative framework was adopted in Togo to boost the practice of physical activities. Last Tuesday, the parliament passed a bill setting new rules for organizing, developing, and promoting these activities.

The new regulation, which has 67 articles, is “an updated version of the 2011 charter which became fully obsolete given the country’s new ambitions.” Among other changes, it introduces three major innovations: the transfer of the supervision of the teaching of physical education and sports (PSE) to the ministries responsible for national education, the final attachment of the National Institute of Youth and Sports (INJS) to the University of Lome, and the creation of two new federations (respectively for school sports and university sports), replacing the old federation (FETOSSU) which included both. 

In addition, the new legislation also emphasizes professionalization, gives special attention to amateur sports, and promotes sports for all, especially in the workplace and for people with disabilities.  

“The introduction of these innovations is driven by the commitment to make sports a lever for inclusion and socio-economic development in Togo,” explained the Minister of Sports, Dr. Commander Lidi Bessi-Kama during the vote in Parliament. 

For the official, the adoption of this new tool must “mark a new beginning,” “allow the Togolese youth to write new pages” of national sports, and make the “Togolese sportsmen and women more competitive” to “provide intense moments of communion and joy to sports fans.”

Octave Bruce

After Togo and Benin, Gozem, the Lomé-based Uber-like startup, is now operational in Gabon, Libreville. 

“We are very pleased to start our operations in Gabon with a simplified, safer and more convenient cab booking solution. We are confident that our innovation in the Gabonese market will create real value for passengers and drivers. Very soon, we will expand our range of services in Gabon with delivery services,” said Cecilia Kouna, Deputy Country Director, Gozem Gabon. 

The app users can pay with cash, via Airtel Money, Moov Money or with their credit card, the startup added. 

The next country Gozem eyes is Cameroon. In Benin and Togo, the company provides transportation and delivery services.