The University of Lomé (UL) will set up a company, named Société for l’innovation et l’entrepreneuriat UL (UL Company for innovation and entrepreneurship), to sell its products more easily. 

Also, the firm aims at professionalizing the university’s actions and facilitating its access to the market. 

The move primarily aligns with the academy’s response against the Coronavirus pandemic. As part of the latter, the UL recently launched a XOF100 million research fund, supplied more than 25,000L of hydro-alcoholic solution and protection equipment to hospitals, pharmacies, and private firms (such as CIMTOGO), among others. 

Ayi Renaud Dossavi

As part of its contribution to the fight against the coronavirus in Togo, Kekeli Efficient Power, which is in charge of building and running the eponymous thermal plant, has started a sensitization campaign in the district of Baguida. 

The move, according to the firm’s management, aligns with its “strong commitment to everything that falls under its social responsibility.” 

While lauding the initiative, Agbotse Komlan, prefect of the Gulf, urged targeted populations to comply with safety measures. 

The Kekeli thermal plant is one of the flagship projects of Togo’s national development plan (PND). The facility is expected to boost the nation’s installed power capacity by 50% (+65MW).

Next Thursday, May 14, Togo will issue its Covid-19 social bonds. The country announced this on the UEMOA stock market, indicating that it will seek a total of XOF108 billion. The bonds, which will be issued at multiple rates, have a nominal value of XOF1 million per unit. They will mature over three months. 

Approved by the Central Bank of West African States (BCEAO), the Covid-19 bonds should help countries affected by the pandemic in dealing with costs arising from their respective responses. 

It should be noted that despite the current crisis, Togo appears to still have the trust of investors on the UEMOA market. For its latest issuance on the platform last week, the country successfully raised XOF38.5 billion. 

Ayi Renaud Dossavi

Located in Natchibore, the facility cost about XOF65 billion, 77% of which was provided by the State.

Overall, more than 300,000 people, mainly small producers, will be able to expand their exploitation area as a result of the project. 

It should be noted that nine similar infrastructures should be built, for agricultural transformation centers (CTA) which are a component of the government’s agropole project. The latter mainly aims at growing agricultural value chains and boosting production in the sector. 

The Kara agropole is part of eight flagship projects falling under Togo’s national development plan (PND). This initiative is backed by various development institutions such as the African Development Bank (AfDB) and the West African Development Bank (BOAD).

On May 10, the curfew set in the Grand Lomé region was revised from 9 PM to 5 AM, while working hours were changed to 8 AM-4 PM (effective on May 11). 

The amendments, the government explained, were spurred by the “stabilization of the pandemic’s spread.”

The curfew, let’s recall, came into effect on April 2, 2020, on the day following the announcement of a 3-month health emergency state. 

To date, Togo has confirmed 174 Covid-19 cases, including 89 who recovered, 74 active, and 11 deaths. The country has proceeded so far to 10,094 tests.

In Togo, Orabank has just added contactless payment to its offers. 

Indeed, the bank’s customers can now proceed to payment, capped at XOF15,000 (about €23), with their bank card at any of the lender’s credit card terminals (EFTPOS). It is possible to deactivate the option if requested. 

While Orabank-Togo did not say the move was motivated by a desire to slow the spread of the Coronavirus, it is one of the flagship measures recommended by the French government to fight the pandemic.  

France has in effect increased the capped amount for contactless payments to €50, from €30, as it begins today, May 11, the lifting of its strict lockdown. French authorities explained the lifting saying it should “reinforce food security in retail trade,” and “ensure that activity in this sector restarts rapidly,” according to Lemonde.fr. 

Séna Akoda

The Central Bank of West African States (BCEAO) has prolonged by 30 days, starting 3 May 2020, its strategic measures to boost e-payment as the Covid-19 pandemic persists. 

The measures include the cancellation of fees for minor transactions, exemption of fees on water and power bills, incentives for digital commercial transactions, a 50% reduction of fees on withdrawals and transfers at ATMs, making it easier to create an e-wallet and perform related transactions. 

They are aimed at keeping physical contact at a minimum in all WAEMU States.

Togolese fashion designer Marius Latif Kérim-Dikeni who owns the Mario Exclusive men clothing brand will make customizable face masks to help fight the Coronavirus pandemic in Togo. 

The customizable masks will be washable and reusable, stressed the designer whose products are sold in Togo, Côte d’Ivoire (Abidjan), and Burkina Faso (Ouagadougou). 

It is worth mentioning that last week the INAM and FAIEJ teamed up to train seamstresses and tailors to also make reusable masks that meet international standards. 

Séna Akoda