Togo First
An Algeria-Togo council will be established to boost economic cooperation between the two countries
Robert Dussey, Togolese minister of foreign affairs, and his Algerian counterpart, Sabri Boukadoum, met last Sunday. On this occasion, the two officials announced the creation of an Algeria-Togo business council to consolidate trade between their countries.
In detail, the council which will be set up by the Togolese and Algerian chambers of commerce will help facilitate concertation and cooperation between business actors from both nations. For Togo, this will be a platform to present investment opportunities its national development plan holds for Algerian investors.
“The Togolese government,” Dussey said, “wishes to tap into Algeria’s expertise in terms of agroindustrial processing as well as regarding the development of the Adétikopé Industrial Platform (PIA).”
According to data available (UN Comtrade), exports from Togo to Algeria stand below CFA200 million, which is very low, while imports stand around a billion CFA.
The West African country’s desire to boost trade with its Maghreb partner is partly attributable to the African Continental Free Trade Area (AfCFTA). The latter should indeed ease trade among African countries, in a context where Algeria is one of those countries that trade the least with its neighbors across the continent.
Klétus Situ
PM Tomegah-Dogbe launches Program of Excellence for Women in Africa
On Monday, 8 March, PM Victoire Tomégah-Dogbé launched the Program of Excellence for Women in Africa (PEFA). The latter is a presidential initiative aimed at enabling more young women to create wealth for Togo.
In its pilot phase, the project will target 20 women, aged between 20 and 28 years, holding at least a bachelor's or in their final year of bachelor’s degree in a local university.
Women selected will receive a 2-year training on the professional world, leadership, and entrepreneurship.
“I’m happy to announce the first batch of this Pan-African program, an initiative shared by many countries including Togo, which is a reference when it comes to the promotion of women’s rights,” said the Prime Minister. She then encouraged more women to “try their luck” and apply for the program.
The new scheme is similar to Togo’s Presidential Excellence Program of the National Development Plan (PPEP). The latter helped train 20 youths and deployed them in decision-making bodies.
Let it be recalled Togo is the first country in the WAEMU, and the 7th in sub-Saharan Africa to promote women, both in the public and private sectors, according to a report recently released by the World Bank.
Séna Akoda
CNSS trains more than 100 companies on professional risks and how to manage them
The National Social Security Fund (CNSS) launched last Monday a 5-week workshop to boost businesses’ capacities relative to the management of professional risks.
According to a source close to the institution, the training sessions are taking place live and online. Organized in partnership with the International Labor Organization (ILO), they target security, environment and hygiene staff, business physicians, and people in charge of human resources.
The workshops were initiated following a survey carried out by the CNSS, with ILO’s support. The study covered 104 public, para-public, private and informal businesses. It aims at “enabling these actors to master laws regulating the implementation of security and health measures at work, plan and monitor their implementation, and know the composition and missions of a professional security and health committee.”
Moreover, the trained staff will be able to “fully understand and identify risk factors and assess risks, knowingly categorizing risks and prevention measures.”
Moreover, each company taking part in the program should be, at its end, able to elaborate a unique risk assessment document covering risks related to Covid-19.
Séna Akoda
Covid-19: Togo recently received 156,000 doses of AstraZeneca vaccines, vaccination begins
On March 7, 2021, Togo received its first doses of Covid-19 vaccines, in the framework of the Covax initiative. This first batch includes 156,000 doses of AstraZeneca vaccines, 157,500 syringes, and 1,575 security boxes.
The stock came aboard an Air France cargo. It was received by the minister of health, Moustafa Mijiyawa, at the tarmac of the Gnassingbé Eyadémé International Airport.
“This first batch of vaccines will be administered to all health workers and part of the population aged 50 and over residing in Greater Lomé,” the government said. While it has been announced that vaccination activities will start on March 10, no information regarding the related sites is known yet.
So far it should be noted that the number of Covid-19 cases has exceeded 7,500 in Togo. Out of these, 92 died.
Klétus Situ
A soybean oil plant to be soon built at the Adetikopé industrial platform
Last Friday, the Adétikopé Industrial Platform (PIA) officially signed with Togo Agro Resources SAU an agreement welcoming the latter as its second shareholder, after Togo wood Industries SARL.
Togo Agro Resources “will process soybeans, into edible oil mainly, helping the country become a soybean oil exporter in the sub-region,” executives at the PIA said. In the coming months, the new investor will build an extraction factory and a soybean refinery. The output from these two facilities will be mostly exported.
It should be recalled that the PIA is developed by Olam, through its subsidiary Arise IIP. The estimated cost of the project is CFA130 billion. It should, according to forecast, create over 35,000 jobs.
Klétus Situ
Togo records second successful recovery bond issue on the regional market
Last Friday, Togo raised CFA148 billion for its latest simultaneous bond issue on the WAEMU securities market. The country, which was seeking CFA40 billion to restart its economy post-Covid, thus recorded a coverage rate of around 371% for the operation.
The bonds issued are fungible treasury bonds, with respective maturities of 36 months (3 years) and 60 months (5 years). The first garnered CFA39 billion and the second CFA109 billion. Over the amount raised, Togo will retain CFA40 billion.
The bonds' respective interest rates are 5.85% and 6.1%. They started taking value yesterday, March 8.
The UEMOA-securities agency announced that the bonds will be redeemed on the first business day following their respective maturity dates, March 08, 2024, and February 22, 2026.
Séna Akoda
EU launches survey to assess the state of its cooperation with Togo
On which priorities should the cooperation between the EU and Togo focus in 2021-2027? A survey was recently launched by the EU, Germany, and France, to obtain the answer to this question.
For those behind the survey, the aim is to get feedback that will enable them to better contribute to Togo’s development over the period concerned.
By answering the survey’s questions and sharing with us your opinions, priorities, and recommendations, you will help us know how to better contribute to Togo’s development in 2021-2027.
For now, the EU, Germany, France, said they identified three strategic projects: one to support development and inclusion, another one to foster the development of agricultural industries and protect the environment, and the last to consolidate peace and resilience in Togo.
Let it be recalled that in December 2020, during a meeting in Lomé, Togo’s minister of foreign affairs, Robert Dussey, said Togo was satisfied with its cooperation with the EU. The latter in response lauded Lomé for its “pragmatic” handling of the Covid-19 crisis.
Séna Akoda
Exim Bank of India injects over CFA3.5 billion in electrification project in Togo
Exim Bank of India injected $6.5 million (+3.5 billion FCFA) in a project to build Medium and low Voltage networks, aimed at boosting power supply in major Togolese cities.
The financing is a credit line the government of Togo secured from the Asian lender. The project concerned will cover six localities, namely Aného, Kpalimé, Atakpamé, Sokodé, Kara, and Dapaong.
The contract will be executed by Indian Laser Power & Infra Private Limited, reportedly one of the pioneers of the cable industry in India. The firm won the contract in a bidding process where it competed against 11 others.
Séna Akoda
Blue economy: Key actors to learn more about recent port logistics reforms
Togo plans to organize capacity-building sessions in port and maritime logistics for 60 actors of the blue economy. To this end, it is recruiting a specialized firm, via the Presidency of the Republic.
The project, financed by the World Bank through the Project to Support the Competitiveness of Logistics Services for Trade, will boost capacities of authorized customs agents and brokers on import, export, and transshipment procedures at the Single Window for Foreign Trade (GUCE).
In a context where the Port of Lomé announced that it has fully dematerialized all its procedures, and made online payment effective to speed up the clearing of goods, the upcoming workshop will keep concerned actors up-to-date relative to the recent reforms introduced by the port authority.
Especially, the training will extend to the International Ship and Port Facility Security (ISPS) Code. This regulation focuses on the security of port facilities and ships, anticipating potential terrorist threats.
Also, the workshop will look at the alert mechanism of the WAEMU and the Observatory of Abnormal Practices.
Séna Akoda
Technical inspection of vehicles now subject to payment of motor vehicle tax
In Togo, technical visit formalities are now subject to payment of the Motor Vehicle Tax (TVM). This was disclosed in a joint statement issued by the Togolese Revenue Office (OTR) and the Directorate of Road and Rail Transport (DTRF).
“Technical inspection formalities are now subject to a systematic control of the receipt attesting of the TVM’s payment,” reads the communiqué co-signed by Philippe Kokou Tchodié (General Commissioner of the OTR) and Tadjudini Dermane (Acting Director of Road and Rail Transport).
The document further noted that the compulsory control would begin on March 15, 2021, across the whole country.
It should be recalled that the TVM can be paid in all tax divisions as well as at the OTR’s desk located at the DTRF.
Séna Akoda