Togo First
Gozem launches graduate training program for its future managers
To prepare its upcoming executives to better tackle its challenges, Gozem launched the Graduate Training Program in Togo and Benin. The initiative, which runs for two years, targets a dozen young graduates holding a masters’ in business administration, teaching them everything about the startup’s activities and reinforcing their skills.
“The Graduate Training Program aims to recruit our managers of tomorrow, in the local markets where we operate,” said Anne-Claire Longour, Global Human Resources Manager at Gozem.
“Candidates selected to join the program will have the opportunity to work on various projects, with various teams and functional units at all levels of the company. They will learn more about Gozem in general and develop the strategic and global thinking we expect from our future managers. It's a rich and comprehensive training that will help gain a broad knowledge of our entire company,” Longour added.
Sena Akoda
Togo hosts major roundtable to promote African robusta output
Lomé currently hosts the 9th ordinary general assembly of the African and Malagasy Robusta Coffee Agency (ACRAM), an international association gathering private and public actors of this sector. The event will end on April 30, 2021.
Besides representatives from the ACRAM’s 12 State members, other participants present at the roundtable include representatives of the World Bank, the United Nations Industrial Development Organization (UNIDO), and the European Union (EU). They discuss ways to revive the African robusta industry, as the latter was hardly hit by the Covid-19 crisis.
The meeting “aims to promote the sharing of practices and solutions that can enable producing countries best adapt to the impacts of the coronavirus health crisis,” said Togolese Enselme Gouthon, president of ACRAM.
Another hot topic at the center of the ongoing talks is the inclusion of women and youth in the coffee value chain.
Originally from Africa, the Robusta variety makes up 35% of the world's coffee production. It contains more caffeine than Arabica - between 1.7% and 4%, against 0.8% and 1.4%. In Togo, about 7,000 tons of coffee and 6,000 tons of cocoa are produced each year.
Daniel Agbenonwossi (intern)
Togo celebrates 61st independence day
Today, Togo celebrates its 61st independence anniversary. To commemorate the day the country’s first President Sylvanus Olympio declared its independence, a large military parade, preceded by a ceremony of taking up arms, took place this morning at the Place des Fêtes of the Presidency.
The parade was held in the presence of President Gnassingbe, members of the government, and officials. It should however be noted that official festivities started a few days ago, with religious services, and the traditional revival of the flame of independence carried out on April 26 by the Head of State.
Earlier yesterday also, President Gnassingbe inaugurated the Kekeli Efficient Power thermal plant, as part of the festivities. Located in the port area, this infrastructure is expected to increase Togo’s power production capacity by 50%.
Klétus Situ
President Gnassingbe inaugurates the Kekeli Efficient Power thermal plant
On April 26, President Faure Gnassingbe cut the ribbon on the Kekeli Efficient Power plant, three days behind the initially scheduled date.
The ceremony marks the industrial launching of the first production phase of the project, under which 47 MW will be generated (open cycle).
In effect, a 47 MW gas turbine (Siemens SGT-800) was started yesterday. A second turbine, the SST-200 steam turbine with an output capacity of 18 MW should be operational by the end of the year, thus enabling the plant to run at full capacity, generating 65 MW.
Kekeli Efficient Power is a joint venture between Eranove group, which holds a 75% stake in the infrastructure, and the Togolese State which detains the remaining 25% via Kifema Capital, an investment vehicle -controlled by Togo Invest, a State holding - whose shareholding includes the CNSS, the INAM, and the CCIT.
Overall, the plant is estimated to have cost CFA85 billion, 75% of which (CFA67 billion) is debt. The financing was raised mainly through pan-African financial institutions led by the West African Development Bank (BOAD) and Oragroup.
According to Marc Albérola, Managing Director at Eranove Group, “The Kékéli Efficient Power plant perfectly translates Eranove’s model recommended to tackle the issue of access to power in Africa: a robust and balanced public-private partnership that spans 25 years and which involves the State of Togo and renowned international players such as the German group Siemens (who supplied the turbines) and the Spanish TSK (who built the plant).”
For her part, the Togolese minister for energy and mines, Mila Aziablé said, “this plant represents a significant evolution, regarding energy transition in Togo, towards a more sustainable and inclusive model.”
In the long run, the plant will produce 532GWh yearly, supplying power to over 250,000 Togolese households or more than 1.5 million people. Also, it should raise Togo’s production capacity by 50%.
Klétus Situ
Togo again seeks CFA20 billion on the regional money market
Togo just announced a new recovery bond issue on the regional debt market - WAEMU securities market. The operation, which should enable the country’s public treasury to raise CFA20 billion, will close on April 30, 2021.
The nominal value of each bond issued is CFA10,000. They will mature over five years, at an interest rate of 5.8% per annum.
The issue’s proceeds will be used to drive economic recovery post-Covid.
The operation is organized in a context where investors are showing more interest in recovery bonds (ODR). Indeed, the country recently proceeded to a simultaneous issuance of these bonds and raised a total CFA82.5 billion while initially seeking CFA75 billion.
Recovery bonds, let’s recall, are new debt instruments created by the Central Bank of West African States (BCEAO) to help WAEMU member States restart their economies, as they greatly suffered the Covid-19 health crisis. These bonds are eligible for refinancing at the Central Bank’s traditional windows and also at a new one called the Relance window where investors can mobilize cash at a minimum bid rate of 2% (at the moment), over a 6-month period, renewable as long as the ODRs are alive.
Togocel loses arm wrestling against telecom regulator in Supreme Court
Today, Togocel, a subsidiary of the Axian Group, lost its case in court against the Togolese telecom and posts regulator, ARCEP.
The Administrative Chamber of the Supreme Court has rejected Togocel’s claim which states that it was accused and fined CFA1 billion for unfair competition practices and not for infringing the ARCEP’s non-differentiation rule. According to the Supreme court, the fine was in effect imposed for the latter accusation, not the former.
“The ARCEP did not sanction for anti-competitive practices but rather for a violation of the non-differentiation clause falling under article 23 of its specifications,” declared the Supreme court whose issues cannot be appealed.
Togocel’s basis for filing the case was an accusation of power abuse and incompetence against the ARCEP. “If the company had won the case, the regulator would have been judged incompetent and the fine would have been consequently. If that had happened, the case would have been settled by commercial courts,” a lawyer explained.
According to the regulator, the telecom company ceased violating its non-differentiation rule only after it was sanctioned with a fine, ignoring the many warnings it had been given beforehand.
Axian Foundation and Togocom team up with local NGOs to implement key social programs in Togo
Near last week’s ending, the Malagasy group Axian, through its foundation and its subsidiary Togocom, signed a partnership convention with the NGOs Federation of Togo (FONGTO). The partnership aligns with the implementation of two recently launched programs: Nunya Togocom and Lanmésén TMoney.
In effect, FONGTO which has been acting as a bridge between NGOs and development for over 40 years, will “search for sites that are most fit to benefit from the two aforementioned programs.” The Federation will also “ensure the mobilization of local communities and monitor related works on the field.”
Nunya Togocom and Lanmésén TMoney are social programs aimed at bolstering education and health in Togo. According to Axian, under the first, classrooms will be built in areas where they are lacking, while the second program will focus on sensitizing youths on preventive healthcare, through sports.
Daniel Agbénonwossi (intern)
Over CFA8.5 billion was distributed to Togo’s poorest since 2014
Between 2014 and 2020, more than 90,000 people received cash transfers, amounting to CFA8.61 billion, from the government of Togo.
The figure was disclosed last week during a virtual meeting between Togolese Prime Minister Victoire Tomegah-Dogbe and Queen Maxima Zorreguieta Cerruti of the Netherlands, United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA).
Topics covered during the meeting include the UNSGSA’s projects, progress made by Togo in terms of financial inclusion, and ways to deepen cooperation between the West African country and the UN body.
“Social financial inclusion projects have been able to impact a large part of the Togolese population. We have set up cash transfers that regularly reach the poorest populations. We have also launched a major inclusive finance program that has reached nearly two million people, most of them women. With the pandemic, the 'Novissi' program, thanks to digital technology, has enabled Togo to be among the few countries that have been able to provide a rapid response to populations affected by the health crisis,” PM Dogbe declared.
In the long term, the goal is to “accelerate financial inclusion in Togo, including digital financial services and inclusion of the poorest.”
The cash transfer scheme, it should be noted, is steered by the National Agency for Support to Grassroots Development (ANADEB).
In Togo, the access rate to financial services stands at 25.1% for banks and 78.5% for decentralized financial systems.
Séna Akoda
ANADEB initiates phase 1 of energy transition project covering 50 multipurpose platforms
Announced in 2018 by the government, the project involving the hybridization of multipurpose platforms’ diesel engines with a solar system (PHMD-PTFM) is at last entering an operational phase. This phase will begin with feasibility studies.
The National Agency for Support to Grassroots Development (ANADEB) which is in charge of the project, is recruiting a consulting firm to conduct the studies.
Total cost of the energy transition project is CFA9.6 billion. It is financed by the Global Environment Facility or GEF (CFA1.3 billion), the West African Development Bank (CFA6 billion), and the Togolese State (CFA472 million in cash, and 1.912 billion in kind which will be contributed to by the targeted communities).
Set to be implemented over three years, the PHMD-PTFM targets 50 communities that already have multipurpose platforms. In the long run, it should directly benefit 62,500 people, including 500 women forming agricultural cooperatives.
Klétus Situ
New livestock market inaugurated in Anié
Last Thursday in Anié, 188km north of Lomé, a new livestock market was inaugurated.
Financed by the European Union (EU) and the French Development Agency (AFD), the new market cost over CFA62 million. It can host more than 2,000 cattle and has an autonomous water supply system.
The infrastructure should enable Togo to “better structure its livestock industry while allowing thousands of herdsmen households to find better outlets and sell at good prices,” said Joaquin Tasso Vilallonga, EU’s ambassador to Togo.
This, it should be noted, is the fourth market of its kind to be inaugurated in Togo. The other three are located in Adétikopé (in the South), Cinkassé and Koundjouaré (in the North).
Daniel Agbenonwossi (intern)