Togo First
Togo eyes Qatari investments
Robert Dussey, the Togolese minister of foreign affairs, was in Qatar last Sunday. He met with his Qatari counterpart, Sheikh Mohammed Bin Abdulrahman, and talked about investment opportunities available in Togo.
After the meeting, Dussey tweeted: “Qatari investment in Togo and a business meeting between the two countries were the main topics of discussion.”
Three years ago, in May 2018, Faure Gnassingbé, Togo’s Head of State, visited the gas-producing country. That trip led to the signing of three major deals between the two countries. The first was a memorandum of understanding on economic, commercial, and technical sectors. The second was a cooperation agreement on reciprocity in the promotion and protection of investments. And the third aimed to set up a channel for political and diplomatic consultations on matters of common interest
Since then, Togo and Qatar have committed to mutually supporting each other during international forums.
Esaïe Edoh
CIAN Africa: Agriculture in Togo has promising prospects, says Shegun Bakari, advisor to President Gnassingbé
On July 1, 2021, during the CIAN Africa Forum held in Paris, Shegun Adjadi Bakari, Advisor to the President of Togo, said Togolese agriculture is booming and that the sector is promising.
The official who was speaking during a panel of the “agro-industrial transformation in Togo” shed light on the Togolese government’s efforts to develop agriculture, by bolstering local transformation. These efforts include setting up a €200 million industrial platform in Adetikope (PIA). Inaugurated on June 6, 2021, the infrastructure was financed by the State and Arise Integrated Industrial Platforms.
The PIA, which has industrial and commercial spaces, warehouses and logistics, roads, container parks, and housing for workers, is, according to Bakari, an important asset to developing agriculture in Togo. The infrastructure, he added, holds various investment opportunities.
Besides the PIA, Shegun Adjadi Bakari mentioned ‘agropoles’ and planned agricultural development areas (ZAAP).
“We are laying the bricks and pieces of the puzzle that will support Togo's growth in the future,” he affirmed.
The Togolese ministers of trade - Kodjo Adedze, agriculture - Antoine Lekpa Gbegbeni, investment promotion- Kayi Mivedor, and Delegate to the President of the Republic in charge of Energy and Mines -Mawunyo Mila Aziable were also at the panel. They all presented and praised the ambitions of the Togolese government set in its 2020-2025 roadmap.
Esaïe Edoh
Togo: 20 startups to compete in the Kpital Race fundraising process
CUBE, the Togolese incubator, released last Thursday a list of 20 startups selected to take part in the Kpital Race fundraising.
In addition to Millenium Microfinance and Cofina, more than 10 business angels took part in the selection process, sorting submitted projects by their relevance, the needs they meet, and turnout potential.
Nine of the selected startups operate in agribusiness and agritech, two in ICTs, three in craftsmanship, two in education, and the last in the cleaning industry. They will now go through a six-week preparation phase at the end of which they will present their respective projects to a panel of investors.
“This process just began and these projects will now start the most important phase which is to get ready for the fundraising that will begin with the elaboration and testing of a business model and market studies, for projects which are still at the ideation and prototype level, and full due diligence for expanding projects. It’s only at the end of this process that the best projects will be submitted to financial partners for funding,” a statement on CUBE’s website reads.
Let’s recall that Brightmore Capital, the West African impact investment fund is also engaged in the initiative.
Klétus Situ
Soybean: Farmers and government must work together to develop the sector, CIFS says
The interprofessional council of the soybean sector (CIFS) recently had its general assembly. On this, the council’s members said the sector needs to be restructured to generate more revenues.
“The government is currently working to develop the sector and promote the bean’s processing. This means the interprofessional has a special role to play, and this must be done through concertation, in agreement with us, the actors of the sector,” said Komlan Kadzakade, chairman of the CIFS.
In the coming days, the council will set soybean’s buying price. It will also take steps to foster the inclusion of all actors concerned and promote dialogue. This, the CIFS says, should help ramp up production.
In 2019-2020, Togo produced 176,000 t of soybeans, of which 160,000 t were exported for CFA50 billion.
Esaïe Edoh
Togolese PM lauds her country’s reforming performances and its improved business climate
Present at the CIAN 2021 Africa Forum, Victoire Tomegah-Dogbé, the Togolese PM, said Togo is a leading reformer and a country committed to economic development, with many investments opportunities.
The Togolese, who gave the opening speech, also listed some of her country’s recent performances regarding improvements in the business climate and the handling of the Covid-19 crisis.
Among others, Tomegah-Dogbe talked about the recently commissioned Industrial Platform of Adetikope (PIA), agropoles, planned agricultural development zones (ZAAP), modern energy, and digital infrastructures such as the Kekeli Power thermal plant and the solar plant of Blitta.
These various projects translate the Togolese government’s desire to make the West African country a land of business. “Togo is an enterprising country which understands and speaks the language of business,” the PM said. She then added: “We have completely dematerialized procedures and reduced the time needed to create a business.”
Togo’s attendance at the ongoing forum, Togolese officials said, is an opportunity for the government to build new partnerships with potential investors.
Esaïe Edoh
Togolese parliament authorizes ratification of Malabo Convention on Cyber Security and Personal Data Protection
Last Tuesday, the Togolese parliament gave its approval for the government to ratify the Malabo Convention of Cybersecurity. The latter was signed by the African Union (AU) on June 27, 2014, in Equatorial Guinea.
Once the convention is ratified, Togo will be able to have tools to reinforce the institutional and legal frameworks of digital transactions, boost cybersecurity and fight cybercrime.
Also, the West African country will conform to the harmonized regional and cooperation standards imposed in the cybersecurity area.
According to Yawa Tsegan, President of the Togolese Assembly, passing the law “confirms once again the commitment and will of the President of the Republic to use digital technologies to leverage Togo’s sustainable development while ensuring the security and protection of personal data for all citizens.”
Commenting on the development as well, General Yark Damehane, minister of security and civil protection, said the bill supports the government’s efforts to make the country a digital and logistics hub in West Africa.
Last February, to tackle cybersecurity issues emerging in Togo, the government put in place a special task force: the Computer Emergency Response Team (CERT.tg).
Esaïe Edoh
CIAN African Forum begins today
The Forum Afrique CIAN 2021 begins today. The event is being held in Paris and broadcast on social media.
During the forum, Togo’s minister of investment promotion, Rose Kayi Mivedor, will present investment opportunities available in Togo, economic advantages, and incentives the country offers investors.
Midevor will do so during a panel hosted by Shegun Adjadi Bakari, Minister, and Advisor of the President of Togo. Titled Agroindustrial Transformation in Togo, this panel will focus on efforts made to advance agro-industrial transformation in the country, and investment opportunities in the sector.
Other panels scheduled will focus on the recovery of the Togolese economy post-Covid-19, thus aligning with the forum’s main theme, which is Enterprises in Africa: A new pact for recovery.
Esaïe Edoh
Togolese private and public sectors work on anti-laundering strategy
Togo will soon adopt a national strategy to fight money laundering and the financing of terrorism. Around 60 actors of the private and public sectors gathered on June 30 for brainstorming on the elaboration of the document.
The National Unit for the Processing of Financial Data (CENTIF-TG), which organized the meeting, said the strategy will set actionable steps to curb laundering and provide the State what it needs to tackle this plague.
Aquiteme Tchaa Bignossi, CENTIF’s president, said the move “attests to the government’s will to better organize the fight against money laundering.” Implementing the projected strategy, he added, “will help Togo attract more investors.”
The initiative is supported, financially and technically, by Expertise France, a consultancy firm. The latter does so through the OCWAR-M project, an anti-laundering project.
Esaïe Edoh
Grand Lomé District teams up with 13 local city halls to boost fund mobilization for urban development
In Togo, the Grand Lomé Autonomous District (DAGL) and 13 municipalities plan to soon sign a partnership agreement to boost funds mobilized for municipalities.
Mayors and officials from this district met in this regard last week and should meet again in the coming days to seal the deal.
Under the agreement, the DAGL will receive 10%-15% of revenues (non-tax and service revenues) collected by the municipalities concerned. Also, the project will involve implementing measures falling under the second axis of the third phase of the Urban Environment Project of Lomé (PEUL III). As part of the latter, municipalities will be addressed further and addressing-based apps will be created to improve fund mobilization.
Klétus Situ
Export of some food products now subject to government’s prior approval
In Togo, the export of some consumer goods is now subject to prior authorization by the government. Yesterday, the government issued a statement in this regard, announcing the strengthening of border controls.
"The government informs economic operators that the export of consumer goods such as maize, sorghum, millet, beans, rice, yams, cassava, and cassava flour is subject, until further notice, to prior authorization from the minister of trade," reads the statement, which was jointly signed by the minister of agriculture, the minister of trade, the minister of economy, and the minister of security.
Primarily, the measure aims to curb the rise in prices of basic commodities recorded in recent months - an increase that contrasts with the food crop surplus registered in the previous season. The government holds economic operators responsible for the situation, accusing them of speculating and smuggling food to neighboring countries. In response, the operators claim there is a shortage. Last May, several experts and farmers told Togo First they expect harvest in the ongoing season to be bad, due to late rains, and the anticipated flooding of some weather systems.
The situation, based on the BCEAO’s latest available data, is not specific to Togo alone. It spreads across the whole West African region.
Esaïe Edoh