Togo First
Wall Street Journal reveals the four countries at the center of irregularities reported in the Doing Business’ underlying data
China, Azerbaidjan, the United Arab Emirates, and Saudi Arabia are the four countries concerned by the irregularities that pushed the World Bank to suspend, last week, the publication of its Doing Business report. This was reported by the Wall Street Journal.
The Bretton Woods institution said it would probe the irregularities in the data used to produce the report.
According to the Wall Street Journal, quoted by Le Desk, China (which is under the spotlight of the probe) moved from the 90th to 31st place within five years, in the controversial rankings.
Let’s recall that in 2015, Paul Romer, then chief economist of the World Bank, had questioned the report citing Chile, for example, which he estimated had been unjustly demoted from the 44th to the 55th place for strictly political or electoral reasons.
Togo to mobilize CFA25 billion on UMOA-securities market, by Sept. 11
Togo will try to raise 25 billion FCFA on the regional financial market by September 11.
The country, which has been successful since January with investors from the West African Monetary Union (WAMU), will issue to this end fungible treasury bonds with a nominal value of 10,000 FCFA, stipulated for a 36-month maturity.
The securities carry an interest rate of 6.15% per annum, payable from the first year. The bonds will be redeemed on the first working day following the maturity date which is scheduled for August 23, 2023.
The proceeds of the issue will be used to cover the State budget’s financing needs for 2020.
Séna Akoda
Global Fund’s project management unit seeks a bank to domicile around CFA65 billion
The Project Management Unit (PMU) of the Global Fund in Togo launched a call for expression of interest to domicile its financial resources for the period 2021-2023. It urged interested banks to submit by September 7 applications for opening and managing three euro accounts and 31 accounts denominated in CFA.
The funds, €98,856.160 (around CFA65 billion) in total, will be dedicated to fighting HIV, tuberculosis, and malaria. They will be allocated as follows: €40,782.952 for HIV, €3,517.631 for tuberculosis, and €54,555.577 for malaria.
The call for expression of interest was published by the PMU on August 28, in the daily newspaper Togo Press.
Séna Akoda
ANPGF and CNP-Togo partner to support local SMEs and SMIs
The National Agency for the Promotion and Guarantee of Financing (ANPGF) and the National Council of Employers (CNP-Togo) sealed on Thursday, August 27 in Lome, a strategic partnership to support SMEs and SMIs which have been hit hard by Covid-19.
“Concerning the respective missions of our institutions, we have deemed it useful to join forces to provide our services and support to Togolese companies and make them much stronger, especially amid the Covid-19 pandemic,” said Naka Gnassingbé-de Souza, the General Director of the ANPGF.
In the same breath, Coami Tamegnon, the Managing Director of the CNP-Togo indicated: “We are strongly fighting for the SMEs/SMIs that make up 80% of the strength of the Togolese economy. We must seek to help them, to revive them so that our economy recovers.”
The partnership will involve sharing with beneficiaries good practices, experience, and information that will help them thrive. The two partners encouraged public authorities to also adopt incentives in the same framework.
Séna Akoda
Togolese authorities are validating a protocol for disaster and threat management
This week, a national workshop was held in Kpalimé to validate the Practical Guide to Disaster and Threat Management. This is a 48-page document that clarifies the roles and responsibilities of local authorities in the management of these situations.
It fosters the integration of disaster risk and threat reduction into development planning tools at the local level.
Management of threats and disasters amidst decentralization
“To efficiently manage emergencies, it is necessary to clarify the roles and responsibilities of the actors involved in the disaster and threat management cycle,” said Col. Yark Damehane, minister of security, at the opening of the workshop.
Moreover, “in the current context of decentralization, local authorities have a key role to play,” in a context where the State wants to “gradually ensure the transfer of powers to them.”
It is in this perspective, the public official stressed, that the capacity of local authorities to better prevent and manage local disasters and threats becomes “an imperative that will contribute to reducing the vulnerability of populations exposed.”
After it is validated, this practical guide should serve as the basis for decision-making by authorities in the management of disasters and threats.
World Bank suspends Doing Business report
The World Bank Group has just announced the suspension of its highly acclaimed Doing Business (DB) report, which assesses the business climate in nearly 200 countries worldwide.
This decision, according to the World Bank, was driven by irregularities in data collected for the annual ranking. The reports in question are those of the years 2017 and 2019, that is to say, the DB 2018, where Togo had, for its part, lost 2 places, and DB 2020, where the country had gained 40 places.
The Washington-based group said it would conduct a systematic review of the changes over the last five reports and asked its independent internal audit department to audit the collection and review process. This is to ensure the integrity of the data.
“The publication of the Doing Business report will be suspended while we conduct our assessment,” the Bank said.
It should be noted that, according to some specialists contacted by Togo First, this would also involve assessing the impact of certain changes over the past two years, including the introduction of the public procurement indicator (which is supposed to be published this year).
As a reminder, Togo has made a total jump of 59 places over the last two editions, after embarking on a vast reform program, marked in particular by the dematerialization of procedures and the reduction of lead times and costs, to improve the country's economic attractiveness.
Ayi Renaud Dossavi
Government warns that “sensitive” products must be declared to the ministry of trade before import
Togolese authorities have made compulsory the declaration of some “sensitive” products at the ministry of trade and local consumption promotion, before importing them. The measure was announced by a press release from the ministry (dated August 26, 2020) - it aligns with an inter-ministerial decree issued on July 17, 2020, to this end.
The products concerned include “live animals and fish, beer, soft drinks, energy drinks, cement and clinker, plant, animal and fish-based foods, mineral water, rebar, vegetable oil, juvenile fish, meat products, rice, plastic bags, printed fabrics, PVC pipes.” This list, according to the inter-ministerial decree can be updated if needed.
Once an import request from business operators is submitted to the ministry of trade, the latter, according to the related legislation, has forty-eight (48) hours to respond. “In the event of a favorable opinion, an import declaration certificate is issued. In the event of rejection, a reasoned opinion is given to the economic operator,” the text states.
Concerned actors can contact the secretariat of the Directorate of Internal Trade and Competition for additional information.
Ayi Renaud Dossavi
Agriculture: a new incubation center is being established in Zanguera
The Centre des Techniques Avancées (Center for Advanced Techniques) is the name of the new incubation center the Togolese government is setting up at the Chinese Center for Agricultural Techniques in Zanguera (a northwestern suburb of Lomé).
Last Tuesday, during a webinar co-organized by NEPAD and Ecobank, the minister of agriculture, Noël Bataka Koutera, said the government is looking for partners to implement the project.
The upcoming center will leverage tools developed by the Pan-African academy, teach micro and first-time entrepreneurs how to use them optimally. Later on, Bataka stressed, solutions developed will be replicated in all 50 agricultural training centers spread across the country.
Lauding the initiative, Souleymane Touré, Managing Director of Ecobank-Togo, promised to consult with its partner, NEPAD, to help the center achieve its goals.
Séna Akoda
Bboxx launches a new product for small consumers
Solar solution provider Bboxx just launched a new product: bPower20.
The product, designed for rural households and energy-efficient microenterprises, would first be deployed in Togo, Rwanda, Kenya, and the Democratic Republic of Congo - all markets where the firm operates. Other countries where Bboxx is active should follow by 2021.
“Thanks to a decade of experience and learning, we can now develop a product that is even more affordable, reliable, sustainable, and efficient,” said Christopher Baker-Brian, co-founder of the company and director of the product division.
This new product, which is even more affordable than previous ones, comes with a 20W solar panel and up to 51 Watt-hour of daily use, the supplier said.
The model is expected to be distributed on a pay-per-use basis and paid for via mobile money platforms.
Ayi Renaud Dossavi
CEET to get new equipment to fight electricity fraud
Togo’s power utility, Compagnie Energie Electrique du Togo (CEET), will purchase nearly €2.5 million worth of new connection equipment. This will include anti-fraud equipment.
Following a bid tender, French firm Michaud Export won the contract for the project. The firm, let it be highlighted, is present in 70 countries and has a capital of €60 million.
Equipment purchased will be used under the Lomé Power Grid Extension Project, PEREL. Main partners include the World Bank, KfW from Germany, the French Development Agency (AFD), and the European Union (EU).
Séna Akoda