Togo First
Plateaux region to soon host an agropastoral university
An agropastoral university is going to be built in Kpalimé, a town located in the Kloto prefecture 120 km from Lomé.
This project directly aligns with the Government’s 2020-2025 roadmap according to Majesté Ihou Wateba, Minister for Higher Education and Research who visited the site.
The university will mainly produce agronomists, in situation where the country aims to tap into its agricultural and husbandry potential.
“I believe that taking all things into consideration, the major road networks that will serve the region, it is ready to host such a big project”, the minister said.
Besides the Plateaux region, a similar university shall be built in the Savanes region.
Séna Akoda
ANPGF and African Lease Togo to help local businesses buy equipment they need
The National Agency for the Promotion and Guarantee of Financing for SMEs and SMIs (ANPGF) and African Lease Togo have teamed up to help local businesses (SMEs and SMIs notably) get the equipment they need.
Interviewed by Togo First about the initiative, Toussaint Sossou, MD of African Lease Togo, declared that "the ANPGF will provide the financial lessor a credit line to finance equipment purchases of SMEs and SMIs. This line will allow African Lease Togo to refinance SMEs and SMIs whose equipment needs are approved". That is one term of the partnership agreement signed by the two firms.
The other term states that "in the event African Lease Togo identifies and selects a business that meets requirements to benefit from the financing, the ANPGF will guarantee 50% of the amount provided".
The project was elaborated where "SMEs and SMIs generally struggle to get funds to operate, and especially to buy new equipment to grow", Sossou added.
All SMEs and SMIs regardless of their activity sector -agribusiness, construction, good transport etc can apply to get the financing. The value of the latter will be based on their needs.
Séna Akoda
Ministry of energy launches call for proposals targeting young Togolese entrepreneurs
Togo’s Ministry of Energy and Mines launched a call for proposals targeting local businesses interested in extending medium and low tension power distribution systems in the coastal region and some urban zones. Overall, 32 firms led by young Togolese male and female entrepreneurs will be selected for the project.
This project aligns with the authorities’ ambition to provide its whole population access to electricity, by 2030.
The Ministry's call for proposals falls under the presidential measure which stipulates that 25% of public procurements should be set aside for young male and female entrepreneurs.
Séna Akoda
Covid-19: First vaccination campaign to soon begin
In Togo, the Ministry of Health recently issued an official statement asking its regional and prefectural officers to start the count of the first targets of its incoming Covid-19 vaccination campaign.
According to the Minister of Health, Prof. Moustafa Mijiyawa, "the first phase of the vaccination will be done with AstraZeneca and it will take place in the coming weeks". The vaccine was recently approved in Europe.
The vaccination campaign will cover the whole territory and target individuals with a high risk of exposure to Covid-19 (notably those between 50-64, those below 50 with chronic diseases and comorbidities, prisoners, or refugees).
Recently, Togo received as part of the Covax project, 636,000 vaccine shots for the first half of 2021. 5,900 cases have been reported so far, with 81 death and 789 still infected, according to official figures.
Global workspace brand Regus to enter the Togolese market
Regus, the workspace provider which forms part of Swiss-based IWG Holding, announced it would soon open a franchise in Lomé, Togo’s capital.
This, it intends to do in partnership with Confortis International. The move aims to provide a "wide range of workspaces including coworking options, private offices, meeting rooms, or business lounges".
Regus will leverage development facilities and initiatives launched by the government in recent years, especially under its National Development Plan (PND). "Taking advantage of the national development plan (PND) of the Togolese government, Regus will provide Togolese businesses and international investors willing to settle in Togo a key service", said Dontou DEROU, CEO of Confortis International.
"In the region, Lomé is positioned as a triple hub, knowingly a port, airport, and financial hub, and Regus offers a world-class tool that is crucial for the business environment".
Regus’ headquarters in Lomé is located on Chance Avenue, in front of LONATO’s general directorate, in GTA Lomé II, a new business area.
Established 30 years ago, IWG (International Workplace Group) is one of the leading flexible workspaces in the world. It has 3,500 sites across more than 120 countries and over 2.5 million clients and partners.
In Africa, the brand already operates in Ivory Coast, Ghana, Nigeria, Senegal, Guinea, Morocco, Algeria, Tunisia, and South Africa.
Cofina Togo launches with an initial capital of CFA500 million
The capital of Cofina Togo, the subsidiary of the eponymous meso-finance Ivorian financial group is estimated at Five hundred million CFA
Cofina Togo was to be headed by Kindoh Rodrigue Kouadio, but since he resigned it is finally Charles-Eric Akoumian Moulod who will occupy this position. The substitute was unanimously picked by the firm’s top management.
In Togo, Cofina’s main rival will be SOGEMEF who currently dominates the meso-finance sector.
Regarding its performances, “in 2019, the meso-finance specialist released a balance sheet of CFA212 billion, against CFA158 billion in 2018, and 155 billion in 2017”. Regarding outstanding loans, “they increased by 30% to CFA146 billion in 2019, while deposits reached CFA134 billion, thus nearly 29% more compared to 2018”, the group said.
Séna Akoda
In 2020, Togo-based startups secured $3.8M from venture capital funds
Throughout last year, Venture Capital Funds invested $3.8 million (CFA2.05 billion in Togo’s digital and tech startups. This was disclosed in a recent report by Partech, a transatlantic venture capital fund specialized in ICTs.
Across Africa, tech startups raised about $1.429 billion in 2020, against $2.02 billion in 2019 (-29%) according to the report. The decrease was recorded despite a greater diversification of transactions, in terms of geographical distribution, and greater resilience of African tech startups amid the Covid-19 pandemic.
According to Partech’s ranking, Togo came 15th on the continent with tech startup of $3.18 million.
Nigeria was first with $307 million raised last year (-59% y/y), an amount that represents 21% of the total funds secured across Africa. The West African giant is followed by Kenya ($305 million), Egypt ($269 million), South Africa ($259 million), Ghana ($111 million), Rwanda ($11.6 million), Uganda ($11.3 million), Morocco ($11.2 million), Senegal ($8.8 million), Côte d’Ivoire ($6.5 million), Algeria ($4.6 million), Tanzania ($4.6 million), DRC ($4.6 million), and Cameroon ($4 million).
Togo, which shares its spot with Zambia (also $3.8 million), was ahead of others such as Tunisia, the Gambia, Benin, Ethiopia, Mauritius, or Madagascar.
Regarding the Togo-based startups that secured the funds, or their investors, it is worth mentioning that the report does not input transactions below $200,000.
Ayi Renaud Dossavi
Backed by the MIFA, a rice mill based in the northern region generated CFA432 million in 2019 and 2020
In Binah, a district located in the northern part of Togo, a rice mill generated CFA432 million over the past two years. The figure was published by the Shared-risk Agricultural Financing Incentive Mechanism (MIFA) which supported the company over the period concerned.
The mill, headed by Aristide Agbossoumonde, produces and processes paddy rice, and sells it under the brand Riz Délice. From Mifa, it benefited from the financial support of CFA251 million in the last two years (CFA101 million in 2019 and CFA150 million in 2020).
In terms of job creation, the mill created 6,328 over the period reviewed, including 78 jobs directly linked to the plant and 6,240 jobs related to rice production (of which 1,560 jobs for farmers). Recently, PM Victoire Tomégah-Dogbé visited the rice mill.
Séna Akoda
Three local firms picked to displace water networks under the Sokodé-Bassar road construction project
Following a tender, four companies - one Tunisian and three locals, have been contracted for the water network displacement project along the 75km-long Sokodé-Bassar road. The beneficiaries will cash in around CFA390 million for their services.
In detail, the Tunisian Soroubat will carry out construction works falling under the project while the other three, BTP CGCO, IMS & A, and NECBAPS BTP, with support from Nigerian firm DMA GROUP, are in charge of displacing the water networks cluttering the road to rehabilitate.
The project was launched last Saturday by Togolese Prime Minister, Victoire Tomégah-Dogbé. Set to be completed within 24 months, it cost CFA35 billion.
Séna Akoda
Togo: Half a billion CFA invested in cattle production areas
In the 2021-2022 agricultural campaign, CFA500 million will be dedicated to cattle production development zones (ZAPB). This was reported in the minutes of the council of ministers held on February 10, 2021, in Kara.
A ZAPB is an area where cattle from a given region are raised. It has natural assets and basic social infrastructure such as schools, dispensaries, veterinary clinics, etc.
The project is funded by the Program for Support to Vulnerable People (PAPV). The disbursed funds will serve to develop 10 pilot ZAPBs.
According to the council of ministers, they will be located in the following prefectures: Zio, Lacs, Haho, Ogou, Anié, Blitta, Tchamba, Bassar, Kozah and Oti
In the long run, 80 sites of 100 ha each will be established across all the five economic regions of the Togo.
Let’s recall that the country aims to make agriculture a major growth driver. In this order, CFA66 billion is allocated to the sector, which is 8.4% of all resources dedicated to the ministries and institutions.
Séna Akoda