Togo First
Over CFA1.5 billion spent to bury waste products in the past 3 years, Grand Lomé district says
Nearly 800,000 tons of waste have been buried at the Centre d’Enfouissement Technique (CET) of Aképé (about 20 km north west of Lomé) in the past three years. This, according to the Autonomous District of Grand Lomé (DAGL) in charge of the CET, cost the district CFA1.6 billion.
In detail, each ton of waste buried is charged by the operating company at CFA5 431. Over the period reviewed, 784, 362 tons of waste were treated - 208,775t in 2018, 272,304t in 2019, and 303,283t in 2020 respectively.
Inaugurated in April 2018, the CET aims to improve the living conditions of populations and fight environmental degradation. The facility was built in accordance with international standards of environmental protection and health. Its other purpose is to stop the proliferation of random wastefills.
The CET’s construction cost of CFA12 billion and was funded by the French Development Agency.
Esaïe Edoh
EIB explores bankable projects in Togo
Two days ago, a delegation from the European Investment Bank (EIB) started in Lomé a mission to explore financing opportunities available in Togo. The initial meeting held in this framework was chaired by the Togolese Prime Minister, Victoire Tomegah-Dogbé. According to her office which disclosed the information, several Togolese officials were also there to present some of the country’s priorities and objectives.
"The European Investment Bank, which is the development bank of the European Union, came to our country to see how we can identify projects that need support or financing," said Kanka-Malik Natchaba, Minister and Secretary-General of the Government. "And naturally, Togo already has a clear and well-organized roadmap, and was able to share with the delegation some areas of cooperation on energy, infrastructure, but also on sustainable development and the digital sector which are key components of our roadmap," he added.
Throughout this week, EIB’s delegation will prospect areas that can be financed in accordance with the government’s roadmap, official sources said. These areas include notably energy access, especially renewables, the digital sector with a focus on digitizing public services, decentralization, agriculture, and environmental protection.
"We have come to restart and strengthen our cooperation with Togo. (...) We are working with the EU Commission to support Togo's priorities as defined in the government's 2020-2025 roadmap, as part of a joint European Union, France, and Germany program to help the country build its capacity for economic growth and development," said Svetla Stoeva, Head of the European Bank's West and Central Africa Country and Public Sector Relations Unit.
The EIB has been the EU’s long-term financing institution since 1958. In 2019, it backed Togo’s adhesion to the African Trade Insurance Agency (ATI) which provides guarantees to its member countries when raising funds on financial markets and helps them find investors worldwide.
Ayi Renaud Dossavi
Togo has received almost 1 million Pfizer doses from the US so far
The US gave Togo 301,860 doses of Pfizer vaccines last Friday. This makes a total of 909,090 doses that the African country has received from the economic powerhouse so far.
The new batch, provided under the Covax initiative, was received by the Togolese minister of health, Moustafa Mijiyawa. It aligns with a commitment made by President Biden to help developing nations face the Covid-19 pandemic.
In the same framework the US embassy in Togo has turned its parking area into a vaccination center; this until December 16th.
It should be recalled that Togo has a million doses of Covid vaccines in stock. The figure was recently revealed by the country’s health authorities.
Esaïe Edoh
Gozem starts new training program for its future managers
Yesterday, November 15, Gozem launched its Graduate Training Program which will be carried out over two years. The program has commenced with four young masters’ degree holders.
Through the program, the Uber-like company will provide online and physical training sessions to its future managers. Overall, nearly 500 courses will be set up to train marketing experts, business developers, delivery managers, and more.
According to Gozem’s management, the program has three goals : attract the best recruits, train them so that they are efficient and operate faster, and keep them onboard in the long run.
“Our ambition with the Graduate Training Program is to attract these talented individuals in Gozem and make them the company’s next faces,” said Anne-Claire Longour, Global Human Resources Manager, Gozem.
Gozem is a company that owns an eponymous mobile app offering, among others, services transportation, e-commerce, and financial services. With over 800,000 users, the platform covers 13 African French-speaking cities, across Togo, Benin, and Gabon.
Esaïe Edoh
Togo wins creativity awards at 7th edition of international exhibition of African textiles, SITA
Togo won the Creativity awards at the 7th edition of the SITA, an international exhibition of African textiles. The event was held in Djibouti from November 10 to 13, 2021.
The country competed against 33 others for the award. It was recognized to have the most attractive and innovative stand.
The SITA promotes Africa’s textile products and industry. The Togolese delegation took part in the exhibition/sale, the fashion show, the international conference and workshop which were held during the event.
Let’s recall that Togo set up its Adetikopé industrial platform (PIA) partly to restart its textile industry. Recently, in line with this goal, the Indian firm, Togo Clothing Company, recently spent CFA20 billion to build a cotton-processing factory at the PIA.
Esaïe Edoh
Togolese government expects 6.1% economic growth in 2022, amidst post-Covid recovery
Togo should record economic growth of 6.1% next year, according to its government. The figure was disclosed last Friday, after the council of ministers which focused mainly on the 2022 budget.
The forecast aligns with the post-Covid recovery started by the country this year. Indeed, economic growth in 2021 is expected to stand at 5.3%, against 1.8% in 2020.
Lomé is also optimistic about inflation, which it expects to stay below the WAEMU 3% ceiling.
“The 2022 budget, drawn amid economic recovery, provides for a 3.5 points increase in real GDP growth rate, from 1.8% in 2020 to 5.3% in 2021. This rate is expected to rise to 6.1% in 2022 as the government implements its roadmap projects. Also the inflation rate has been brought under control below the region’s ceiling of 3%,” reads a statement from the ministers’ council.
The 2022 budget (income and spending) is expected to total CFA1,760 billion, with 46% allocated to social sectors. While the figure is 15.7% up compared to the initial 1,521 billion forecast under the finance bill for this year, it's only 3% more compared to the budget package that was approved by the National Assembly (1,702 billion).
Ayi Renaud Dossavi
Togo to allocate 46% of 2022 budget to social sectors
Togo will dedicate CFA493.3 billion to social sectors out from its total budget for 2022. The figure is written in the budget draft bill that was validated last Friday, by the ministers’ council.
Next year the country will thus allocate an increased 10.8% to social sectors than it did under the 2021 budget - knowingly CFA445.1 billion.
Succintly, 151.6 billion will be made available to primary, secondary, technical education, and the craftsmanship sector, while tertiary education will get 40.9 billion. This, according to the council of ministers, should “reinforce school infrastructure, help build centers of excellence and sandwich training institutes”.
As for the health sector, it will receive 97.1 billion which will be used mostly to provide universal healthcare and ensure access to health services for all. Moreover, the allocation will enable authorities concerned to sustain anti-Covid actions such as “rehabilitating, building, and equipping health facilities”.
To foster social inclusion, Lomé plans to spend about 70 billion next year on various projects aimed at boosting youth employment, financial inclusion, setting up a social registry of individuals and households, maintaining social nets for grassroot populations and improving access to clean water.
Service digitization, which is one of the government’s priorities, will benefit from a 15.7 billion budget whereas programs focused on preserving peace and security will get 124.5 billion.
“To accelerate the economic transformation of our country in line with the government's roadmap, the agricultural, energy, mining and infrastructure sectors will be allocated 20% of the amounts set aside for ministries and institutions”, Togolese authorities indicated.
Under the 2022 budget, income and expenditures are forecast at a total of 1,760 billion, against 1,521 billion in 2021. This represents an increase of 15.7%.
Esaïe Edoh
Public procurement : Govt’ should reduce provision delays soon
Companies that handle road construction and expansion works in Togo’s rural areas could soon get contracts faster. The related suggestion was made by the Minister of rural roads, Bouraima Kanfitine Tchédé-Issa, during the latest council of ministers.
“This sector faces great challenges in regards to the time taken to complete projects, notably because it is impossible to work during the rainy season,” the minister said. According to the minutes of the council, the official “seeks the council’s approval for a strategy including amendments to procedures and measures to accelerate planned actions”.
The minister added that the strategy, which also aims to improve the public procurement framework, should most importantly allow the government to better tackle delays recorded in rural development (road construction and expansion) projects.
By 2025, Togo plans to build 4,000 km of rural roads across its five (5) economic regions. The project aims at helping people living in rural areas access basic socio-economic infrastructure more easily, but also opening up zones with a strong potential for farming - places where cotton, coffee, and cocoa can be grown for example.
ECOWAS: EBID gets CFA40 billion from Moroccan BOA Group to finance the private sector
Moroccan group Bank of Africa (BOA) will spend CFA40 billion to support the private sector in 15 ECOWAS States. The funds - a credit facility - will be provided to the ECOWAS Bank for Investment and Development (EBID) which is based in Lomé, Togo.
BOA and EBID signed the related partnership agreement last Wednesday in Lomé. The credit facility concerns the trade and industry sectors.
“This credit line will strengthen EBID's capacity to continue financing private sector projects that align with the Bank's primary intervention areas, notably the energy, infrastructure, and industry sectors,” said George Agyekum Donkor, president, EBID.
For his part, Youssef Ibrahimi, MD, BOA-TOGO, and the representative of the Moroccan group at the signing ceremony, said: "The provision of a credit line of CFA40 billion to our partner EBID demonstrates the commitment of the BANK OF AFRICA Group to contribute to the financing of ECOWAS economies which are affected by the health crisis we are aware of. And as an African bank, we reiterate our commitment to promote the economy of our countries.”
EBID covers 15 ECOWAS countries, supporting several key sectors in the region. In Togo for example it supports the growth of agriculture and agribusiness.
Ayi Renaud Dossavi
Togo: Parliament adopts amended finance bill
On Thursday, the Togolese parliament adopted, unanimously, the 2021 amended finance bill which increased the State budget from CFA1,521 billion to CFA1,702 billion, up 11.9%. The amendment is attributable to economic conditions that were more favorable than the government had expected for this year.
"After budget analysis, it appears that despite the persistence of the coronavirus health crisis, several socio-economic sectors have been recovering. This augurs a favorable macroeconomic outlook, and confirms the transition to a strong economic recovery,” the National Assembly said.
More favorable economic conditions plus a boost from IMF
In addition to improved tax earnings, the government received around August financial support from the International Monetary Fund (IMF) in the form of Special Drawing Rights (SDRs).
"The budget bill that you just adopted makes it possible to take into account more favorable macroeconomic projections than expected" due to "the economic situation, a stronger economic activity in 2021 and its positive impact on the mobilization of resources, in particular tax revenues and cash resources linked to the collection of special drawing rights from the International Monetary Fund up to CFA111.7 billion,” Sani Yaya, the minister of finance, told deputies following the vote.
"By passing this amended bill, you are giving the government the means to act. This being said, the government plans to keep implementing structural reforms aimed at stabilizing the macroeconomic framework and consolidating public finances, feats that will require greater efficiency in managing public spending,” Yaya added.
The increased budget, the official stressed, will enable Lomé to sustain reforms that will help improve the business climate, but also accelerate the implementation of socio-economic measures identified across all socio-economic sectors existing in the country.
Ayi Renaud Dossavi