Last Friday, the Adétikopé Industrial Platform (PIA) officially signed with Togo Agro Resources SAU an agreement welcoming the latter as its second shareholder, after Togo wood Industries SARL. 

Togo Agro Resources “will process soybeans, into edible oil mainly, helping the country become a soybean oil exporter in the sub-region,” executives at the PIA said. In the coming months, the new investor will build an extraction factory and a soybean refinery. The output from these two facilities will be mostly exported.

It should be recalled that the PIA is developed by Olam, through its subsidiary Arise IIP. The estimated cost of the project is CFA130 billion. It should, according to forecast, create over 35,000 jobs. 

Klétus Situ

Last Friday, Togo raised CFA148 billion for its latest simultaneous bond issue on the WAEMU securities market. The country, which was seeking CFA40 billion to restart its economy post-Covid, thus recorded a coverage rate of around 371% for the operation. 

The bonds issued are fungible treasury bonds, with respective maturities of 36 months (3 years) and 60 months (5 years). The first garnered CFA39 billion and the second CFA109 billion. Over the amount raised, Togo will retain CFA40 billion. 

The bonds' respective interest rates are 5.85% and 6.1%. They started taking value yesterday, March 8. 

The UEMOA-securities agency announced that the bonds will be redeemed on the first business day following their respective maturity dates, March 08, 2024, and February 22, 2026.

Séna Akoda

On which priorities should the cooperation between the EU and Togo focus in 2021-2027? A survey was recently launched by the EU, Germany, and France, to obtain the answer to this question. 

For those behind the survey, the aim is to get feedback that will enable them to better contribute to Togo’s development over the period concerned. 

By answering the survey’s questions and sharing with us your opinions, priorities, and recommendations, you will help us know how to better contribute to Togo’s development in 2021-2027.

For now, the EU, Germany, France, said they identified three strategic projects: one to support development and inclusion, another one to foster the development of agricultural industries and protect the environment, and the last to consolidate peace and resilience in Togo. 

Let it be recalled that in December 2020, during a meeting in Lomé, Togo’s minister of foreign affairs, Robert Dussey, said Togo was satisfied with its cooperation with the EU. The latter in response lauded Lomé for its “pragmatic” handling of the Covid-19 crisis. 

Séna Akoda

Exim Bank of India injected $6.5 million (+3.5 billion FCFA) in a project to build Medium and low Voltage networks, aimed at boosting power supply in major Togolese cities. 

The financing is a credit line the government of Togo secured from the Asian lender. The project concerned will cover six localities, namely Aného, Kpalimé, Atakpamé, Sokodé, Kara, and Dapaong.

The contract will be executed by Indian Laser Power & Infra Private Limited, reportedly one of the pioneers of the cable industry in India. The firm won the contract in a bidding process where it competed against 11 others. 

Séna Akoda

Togo plans to organize capacity-building sessions in port and maritime logistics for 60 actors of the blue economy. To this end, it is recruiting a specialized firm, via the Presidency of the Republic.

The project, financed by the World Bank through the Project to Support the Competitiveness of Logistics Services for Trade, will boost capacities of authorized customs agents and brokers on import, export, and transshipment procedures at the Single Window for Foreign Trade (GUCE).

In a context where the Port of Lomé announced that it has fully dematerialized all its procedures, and made online payment effective to speed up the clearing of goods, the upcoming workshop will keep concerned actors up-to-date relative to the recent reforms introduced by the port authority. 

Especially, the training will extend to the International Ship and Port Facility Security (ISPS) Code. This regulation focuses on the security of port facilities and ships, anticipating potential terrorist threats. 

Also, the workshop will look at the alert mechanism of the WAEMU and the Observatory of Abnormal Practices.

Séna Akoda

In Togo, technical visit formalities are now subject to payment of the Motor Vehicle Tax (TVM). This was disclosed in a joint statement issued by the Togolese Revenue Office (OTR) and the Directorate of Road and Rail Transport (DTRF).

“Technical inspection formalities are now subject to a systematic control of the receipt attesting of the TVM’s payment,” reads the communiqué co-signed by Philippe Kokou Tchodié (General Commissioner of the OTR) and Tadjudini Dermane (Acting Director of Road and Rail Transport).

The document further noted that the compulsory control would begin on March 15, 2021, across the whole country.

It should be recalled that the TVM can be paid in all tax divisions as well as at the OTR’s desk located at the DTRF. 

Séna Akoda

In Togo, SMEs and SMIs consuming between 120 and 150kVA of power will not pay to get connected to the public grid. This falls under the government’s efforts to improve the country’s business climate.

In a statement it recently released, the Togolese power utility declared that “the cost for connection to the medium tension network of the public grid has been made free for SMEs and SMIs with a consumption level ranging between 120 and 150kVA.”

The fees concerned, it should be recalled, were previously reduced by 30%, and later by 50%.

Besides SMEs and SMIs, Togolese authorities, as stated under its national electrification strategy, aim to electrify the whole country by 2030.

The ministry for development planning and cooperation is looking for a developer to create a mobile app to accelerate the digitalization of services provided by the national water company (Togolaise des Eaux or TDE).

The move aligns with the digitization strategy of the water utility. The latter recently adopted mobile money to ease the payment of bills by customers. The platform in question will allow its users to access their consumption history and meter ID, make payments with banking cards, and file complaints.

The initiative is financed with an IDA loan disbursed for the State, in the framework of the Project to Support Competitiveness of Logistics Services in Trade.

Séna Akoda

More than half of the Togolese population (51%) said they are willing to take the Covid-19 vaccine. This was revealed in the results of a survey conducted by Afrobarometer and published on March 3, 2021.

Led by the Center For Research & Opinion Polls (CROP), the study covered a sample population of 1,200 Togolese citizens. It was carried out between December 2020 and January 2021. In addition to asking people what they think about the vaccine, the survey’s authors asked them various questions concerning the sanitary crisis.  

Among those in favor of getting Covid-19 shots, rural people (56%) and the youths (54%) showed more determination than people in cities (41%) and the old (46%-50%). Also, 37% of the surveyed said they trust the government to make sure the vaccines are inoffensive.

Let’s note that 40% of the surveyed have doubts about the Covid-19, opting for prayer as the preferred prevention method.

Klétus Situ