In a recent memo, Togo’s minister of agriculture, Noel Bataka, has urged all actors of the local poultry industry, especially importers and suppliers, to “take all immediate measures, through clear and concise contracts, to clear poultry products in stock and to ensure a regular supply of local poultry.” 

In this framework, the ministry of agriculture issued an order giving 15 days, starting May 18, for actors concerned to comply with the instruction. 

Bataka’s initiative takes place in a context where it has been noticed that some poultry products’ importers and suppliers fail to keep the commitments they take during meetings with the minister, such as that to supply the local market. 

According to the minister’s memo, an authorization must now be obtained to import poultry products into Togo. He has instructed the customs officers to enforce this order. 

Séna Akoda

In Togo, the project supporting employment and insertion of youth in promising sectors (PAEIJ-SP) just partnered with four new microfinance institutions. These are UMECTO (which operates in all economic regions of the country), Coopec ADESEM (active in the central region), CEF MEF (central and kara regions), and Coopec SIFA (Savanes). 

The institutions were selected through a call for manifestation of interest launched through Orabank Togo. Generally, they will intervene essentially in the central and northern parts of Togo, supporting agricultural entrepreneurs, and the actors of the various value chains. However, in-depth, these four lenders will provide loans, supplied by Orabank Togo, to agricultural entrepreneurs.  

So far, the PAEIJ-SP has supported more than 250 young entrepreneurs in developing their business plans and helped nearly 450 farmers’ associations seal supply agreements with SMEs specialized in agricultural processing as well as with aggregators in the cassava, corn, and soybeans sectors. 

Séna Akoda

Yesterday, May 19, the minister of agriculture, Noel Bataka, officially launched the 2020-2021 cotton campaign in Kara (412 km north of Lomé). 

According to the official, “it is imperative to increase sowing areas, boost output, productivity, and farmers’ income.” However, he stressed on the need to take into account current limitations that emerged due to the Covid-19 pandemic. “All actors will have to find adequate ways to protect themselves against the pandemic,” Bataka declared. 

During the previous campaign, the country’s annual output was down 15% due to low rainfalls. From 137,000 tons of white gold in 2018-2019, yields harvested last year stood at 116,000 tons. 

Ayi Renaud Dossavi

The Togolese anti-pandemic mixed special task force, FOSAP, seized last week 285 cannabis bread pieces which were being smuggled into Togo, from Ghana. 

The task force announced the seizure yesterday, May 19, indicating that it took place during a routine control at the border. 

It was also during one of the new force’s routine controls that nearly 1,000 Togolese citizens were recently intercepted while crossing the Togo-Ghana borders despite the latter being officially closed. The citizens intercepted were placed under quarantine. 

The FOSAP, let’s recall, is a unit of 5,000 people established to enforce measures taken by the government as part of its Covid-19 response.

The new head of the Togolese power utility (CEET) is Laré Santiégou. He was recently appointed to replace Pauli Kakatsi Mawussi who had been holding the position since 2016 (and in 2009-2011 before that). 

Before coming to the CEET, Santiégou was the chief of BBOXX Togo which is active on the CIZO rural electrification project. Before that, he was the Managing Director of Contour Global, which produces and supplies power in Togo. 

Among the various challenges that the new CEET chief has inherited is the big debt Togo owes Nigeria. The latter has been threatening to cut power supply to Togo, and other neighboring countries it provides electricity to.

Togo is preparing its last issuance on the regional stock market for Q2 2020. According to UMOA-securities, the regional agency that organizes the issue of public securities, Lomé will proceed to the operation on June 12. 

For the coming operation, Togo’s public treasury will try to raise XOF20 billion by issuing fungible Treasury bonds that will mature over 12 months. 

On May 14, the country successfully retained XOF108 billion out of XOF224 mobilized by investors. For this quarter, Lomé aims at raising XOF183 billion, after securing XOF165 billion in the previous quarter. Cumulating its performances so far, the country is well set to achieve its target for the year, knowingly XOF420 billion. 

It is not only Togo but the whole WAEMU region that has recorded good results on the regional financial market since the year began. In the first quarter, all WAEMU States raised a total of XOF1,331 billion (about $2.2 billion) on this market. This is 8.21% more compared to their initial target. During the current quarter, they seek XOF2,819 billion. 

The positive performances of WAEMU States on the regional financial market reflect investors’ trust despite the persistent Covid-19 pandemic slowing both regional and global economies. 

Fiacre E. Kakpo

One of Lomé’s biggest hotels, the Eda Oba hotel, has suspended all activities until further notice due to the persistent coronavirus crisis. The information was reported by local media MiabeTogoActu. 

“It is imprudent, both on the sanitary and financial levels, to keep the Eda-Oba hotel running given actual circumstances, especially since we are financially exhausted and have almost no treasury left,” said the hotel’s management. 

The Covid-19 is the last straw that broke the camel’s back as “we had been running almost empty due to the very low business traffic.”  Due to all these, “we temporarily laid off all our employees since April 30, 2020.” 

The Eda-Oba hotel is not the only business in Togo struggling amidst the pandemic. Indeed, a recent survey carried out by the Togolese employers’ association revealed that 41% of businesses have halted operations and 91% had to temporarily lay off their staff.