Togo First
The local poultry sector could generate 150,000 jobs by 2025
In Togo, the poultry industry could create around 150,000 new jobs by 2025. The estimate released by the ministry of animal production is ten times more than the jobs the sector currently accounts for.
Nonetheless, the projection is likely to become a reality only if “local poultry is sold more” across the country. Also, importers should purchase more local products.
Indeed, while the sector has recorded some improvements in recent years (output soared from 8 million to 25 million heads between 2011 and 2017), there is more room for progress, both in terms of output and job creation.
In this framework, the ministry of animal production banned last month, imports of poultry to the country.
Togo secures €150 million on the international debt market
Last month, Togo raised around €150 million (nearly XOF100 billion) in loans on the international market.
The operation was arranged by Société Générale and was fully insured by the African trade Insurance Organization, ATI (which Togo adhered to early this year).
According to the Togolese ministry of finance and economy, this operation “is proof of Togo’s credibility as an international debtor, especially in these times where volatility is strong and investors are showing more prudence.”
The interest rate on the loan is 4.5% and it will mature over 10 years. This facility, which is the second international loan the country is taking, will help Togo reduce its short-term commercial domestic debt, as well as reduce debt servicing by “more than €80 million over the next three years.”
Ayi Renaud Dossavi
Togo’s post company launches a promotion to ease postal address acquisition for businesses
From now till September, businesses can get a postal address for 60% less than the usual cost.
The promotion, which is run by the Togolese Post Company (SPT), targets mainly one-man businesses, limited liability companies (LLCs), SMEs, and SMIs, as well as liberal professions. They can thus get a mailing address for XOF24,000, valid for a year.
Through the move, the SPT also hopes to turn individual accounts into corporate accounts as holders of the former are given the possibility to switch to the latter throughout the promotion.
Séna Akoda
West African construction giant EBOMAF wins two contracts worth XOF214 billion in Togo
EBOMAF’s subsidiary in Togo has been put in charge of the Lomé-Kpalimé road modernization project announced recently by the minister of transport, Zouréhatou Kassah-Traoré. This was disclosed on the website of the construction firm.
The works, officially launched on June 17, also include the rehabilitation of roads in Kpalimé. However, let it be emphasized that the modernization of roads along the Lomé-Kpalimé axis and the rehabilitation of roads in Kpalimé are two different contracts with respective costs of 195 billion and 19 billion CFA francs. Both projects will be financed by the State.
Already, EBOMAF has deployed equipment in Adidogomé and Atikoumé, hence marking the beginning of the new works.
Séna Akoda
The PASA and its impact on the coffee and cocoa sectors
A team regrouping agents of the Technical Support and Counselling Institute (ICAT) and the Coffee-Cocoa Technical Unit (UTCC) are currently touring coffee and cocoa plantations in Lavié, Kpélé, and Danyi, in the Plateaux region.
The team, which started its tour at the beginning of this week will assess the impact of the Agriculture Support Project (PASA) on the creation of cooperatives in charge of professional tree nurseries. The PASA, let’s highlight, is financed by the World Bank.
So far, “we have provided farmers with more than three million rooted cuttings so that they develop new tree nurseries and regenerate old plantations,” said Batoefetou Madjoulba, director of UTCC. We have also shared nearly 400,000 cocoa pods. We have exceeded 40,000 hectares of coffee plantations (old plantations regenerated and new ones created) and more than 26,000 hectares of cocoa farms (regenerated and created), he added.
According to Madjoulba, these initiatives have a “positive effect on national production.”
Coffee and cocoa, which are export crops, contribute about 1.2% of Togo’s gross domestic product (GDP) and are cultivated by around 32,000 farmers.
Togolese customs office seizes 1.5 tons of cannabis in Hihéatro, 151 km from Lomé
One and a half tons of cannabis. That is how much of the drug was intercepted on June 9-10, 2020, by the Togolese customs office.
The illegal goods, which were presented to the media on June 16, by the Togolese Revenue Office (OTR), was seized aboard a 15-seater minibus at the Hihéatro customs checkpoint, about 151 km from Lomé. The vehicle was coming from Kpalimé and was headed to the northern region.
A few days before the arrest, another 600 kg of cannabis was seized while being transported to Kara.
Séna Akoda
UNIDO to provide Togo $2.5 million to support its economic restart after Covid-19 crisis
The United Nations Industrial Development Organization (UNIDO) plans to raise $2.5 million in the weeks to come to support Togo to restart its economy after the coronavirus-induced sanitary crisis.
In effect, the money will be used to boost the production capacities of SMEs, incubators, artisans, and farmers. The main motive behind the move is to support local processing of commodities and revitalize chains of value in agricultural sectors.
According to the UNIDO, the post-Covid period will certainly not allow things to return to how they were. Therefore, it is crucial to provide some resilience to the local socio-economic fabric.
In-depth, the UN entity will encourage local actors to produce protection tools (sanitizers, masks, etc.) to fight the pandemic while the economy is being revived.
Ayi Renaud Dossavi
Youth and female entrepreneurs sought for public construction works in Lomé
In Togo, the National Commission for the Fight against the Proliferation of Light and Small Caliber Weapons (CNLPAL) is planning some rehabilitation works.
To this end, the institution, which is attached to the Presidency, seeks the expertise of female and young entrepreneurs. Interested firms must submit their bids to the Presidency by 14 July 2020. Five firms will be selected to carry out the works.
The government’s decision to hire female and young entrepreneurs aligns with its provision that set 25% of public procurements for this group of individuals. The latter mainly aims at promoting self-employment and entrepreneurship, thus tackling unemployment which is a major issue for youth and women in the country.
Séna Akoda
Elaboration of 2019 ITIE report to begin on September 1, 2019
Starting September 1, 2020, the elaboration of the report on transparency in Togo’s extractive industries (ITIE) for 2019 will begin.
In this framework, authorities have launched the process to recruit a consultant to undertake the task. Interested parties have until June 30 to manifest themselves.
The hired consultant will have three months to write the report which will contain an in-depth analysis of the systematic publication of ITIE data. The document will also indicate progress made and challenges to overcome, based on recommendations made in the reports released in 2017 and 2018.
Last year, BDO LLP won the contract to produce the ITIE reports for 2017 and 2018, for XOF90 million, taxes included. This is the fifth biggest audit firm after Deloitte, Ernest & Young, KPMG and PwC (PricewaterhouseCoopers)
Séna Akoda
Prices of cereals should remain stable in the coming months
Throughout May, prices of maize, millet, and sorghum in Togo were stable. This should continue in the coming months, especially in these three sectors and that of rice according to the latest economic outlook for Africa’s cereals market.
Moreover, the Togolese food security agency (ANSAT) restarted “collecting white rice with organized cooperatives to tackle pockets of food insecurity which resulted from the coronavirus pandemic.”
Let it be noted that recently, restrictive measures taken to curb the spread of Covid-19 have been relaxed. This has improved market supply.
In West Africa, price outlooks are the same, except for millet and sorghum whose price should slightly increase in the coming weeks.
Ayi Renaud Dossavi