Very soon, five modern gari production units will be set up in the Vo prefecture. The project, which is backed by the MIFA, was revealed last week during a visit by President Gnassingbé in Gnita, a village located in the Akoumapé district. 

The first of the five production units will be located in this village. It will cost XOF50 million. There, hundreds of women make gari, which comes from cassava. 

Yearly, Togo produces about 900,000 tons of cassava. And while this is one of the products the country transforms most, there is still nearly 400,000 of unprocessed cassava per year.

The 6th edition of the AGAU RÂ meetings will be held in Kara, on May 8-9, 2020. 

On the first day of the event, there will be workshops aimed at boosting entrepreneurial capacities. Participants will learn about the conception and profitability of a Youtube page, conception of off-ground agricultural kits, robotics programming, etc. 

On the second day, they will attend mini-conferences and 10 entrepreneurs will present their projects to partners and potential investors. The best projects will be backed by CUBE and partnering incubators, which will help them raise funds needed. 

Entrepreneurs interested in participating in the event can do so freely, excluding exhibitors who are to pay a specific fee. Deadline for registration is March 13, 2020. 

R.E.D

The Togolese Revenue Authority (OTR) recalls that the second and third fiscal stamps have been suppressed with the establishment of the single land desk. 

The reminder comes as some surveyors, who are the link between landowners and the land administration, keep receiving payments for the operations, due to the ignorance of their clients relative to the reform. 

A few Togolese know about the reform that led to the creation of a single land desk and the suppression of these procedures, in spite of the awareness campaign launched in this framework, the OTR indicates. 

Séna Akoda

Togo’s rural electrification and renewable energy agency (AT2ER) seeks investors to build two solar plants in Kara and the Central region. The two facilities will have a combined capacity of 60 and 80 MWac (Megawatt alternating current).

The AT2ER has in this framework issued a pre-qualification notice targeting private actors interested in the projects. Phases they will cover include the conception, financing, construction, installation, commissioning and exploitation of the plants. 

Regarding exploitation, it will take place under a private-public partnership and the related concession deal will expire after 25 years. 

Those interested should submit their proposals by March 30, 2020. 

For this tender, the AT2ER is advised by the International Finance Corporation (IFC). For cost-effectiveness, the agency leveraged the institution’s Scaling Solar initiative. 

Let’s also recall that under its national electrification strategy, the Togolese government plans to set up a solar plant in each region of the country. 

Ayi Renaud Dossavi

Over the first 11 months of 2019, Togo was Africa’s leading country, in terms of attracted foreign investments. This was reported by FDI Intelligence, which is a specialist division from the Financial Times providing industry-leading insight and analysis on crossborder expansion, greenfield inward investment and foreign direct investment trends.

From January to November last year, Togo secured 11 new investment projects, against only two (2) over the same period in 2018. This is the highest growth rate relative to the number of greenfield projects, in all of Africa. Before that, the continent’s peak was seven projects, secured in 2013. 

According to FDI Intelligence, Togo has attracted 6.7 times more investments than expected of an economy of its size. It is ahead of Rwanda and Senegal, respectively second and third. 

Lauding the achievement, President Faure Gnassingbé declared: “This news consolidates our conviction that we are on the right track regarding the many reforms we have put in place to ensure prosperity and inclusive growth in our country.”

Most of the projects secured by Togo were yielded by a double partnership reached with the Dangote Group at the beginning of November last year. Under the deal, a phosphate treatment plant (at a cost of $2 billion) and a cement factory ($60 million) will be built in the country. 

Another major investment is that of Amea Power which plans to build a $33.5 million solar power plant in Blitta. 

Togo, let’s recall, is among the top reformers of Africa and third worldwide, according to the 2020 Doing Business report. The country received last year, its first international finance rating, and secured its first loan on the international market. 

Octave A. Bruce

Nearly 200 young entrepreneurs gathered yesterday for the first session of the Jeudi J’ose meeting of the year. 

This is the 51st session of this monthly event organized by the FAIEJ. It focused on planning towards the good achievement of goals throughout the year. 

‘Jeudi J’ose’ was launched in 2015 and takes place every second Thursday of the month. Its purpose is to get public authorities and youths to kindle the entrepreneurial flame. Last year, many of these meetings focused on taxation, institutional support for businesses, various means and tools provided to young entrepreneurs for their growth.

January

Government adopts a legal framework for the production, distribution, and commercialization of renewable energies

The government’s goal here is to “tackle issues spurred by the insufficient power availability, increase the related capacity,” as well as reduce the county’s dependency regarding electricity. 

February

Green Climate Fund backs transition to clean energy in some WAEMU States

Togo, Benin, Burkina Faso, Guinea Bissau, Mali, and Niger get €100 million from the Green Climate Fund to accelerate their transition towards clean energies. The funds will be provided through the BOAD. 

March

The government provides a subsidy for households benefiting from the CIZO

Every month, over a period of 36 months, Togo has decided to provide a 40% subsidy for households having CIZO solar kits. 

Togolese startup Kya Energy Group selected to train 3,000 engineers to service solar kits under the CIZO project

KYA-Energy Group, winner of the 2018 BOAD Startup award, lands a deal with the government of Togo to train 3,000 service engineers on the CIZO project. 

Togo and AMEA POWER ink MoU to set up a solar plant in Blitta

During a trip to the United Arab Emirates, Togolese President, Faure Gnassingbé, signs a memorandum of understanding with AMEA Power. Under the agreement, a 30MW solar PV plant is to be built, in the North-central region of Togo. 

BOAD commits to finance Kekeli Efficient Power thermal plant.

The BOAD’s board of directors approves a XOF25 billion financing to build the Kekeli Efficient Power thermal plant. 

The Minister of Mines and Energy, Dèdèriwè Marc Ably-Bidamon, attends 13th Germany-Africa Forum on Energy

Among others, the official talks about challenges impeding the energy revolution and its financing, in Africa. 

June

SOLEVA, second approved operator on CIZO, starts activities

SOLEVA, the second operator on the CIZO project, after BBOXX, starts its operations. 

The laying of the first stone fo Kekeli Efficient Power plant takes place

Prime Minister Komi Sélom Klassou and Eranove executives lay the first stone of the Kekeli Efficient Power thermal plant. The infrastructure which will have an installed capacity of 65MW will use combined-cycle technology. This will ensure that it generates more power, without consuming additional gas, while limiting CO2 emissions. 

EU and AfDB announced support to CIZO 

Alongside the AfDB, the European Union announces its support to the CIZO rural power project, as part of its investment plan in Africa. 

July

Mitsubishi gets engaged in CIZO project

Mitsubishi announces its engagement in CIZO, after a talk between President Gnassingbé and the firm’s chief for Africa, Yas Doida. 

August

Mitsubishi buys into BBOXX

The Japanese conglomerate led a $50M investment in the British off-grid solar company. 

Ecobank transitions to clean energy

Ecobank Transnational Incorporated (ETI) migrates towards clean power by using solar PV power plants to meet part of its energy needs. 

October

World Bank lauds Togo’s power-related reforms in 2020 Doing Business report

In the 2020 Doing Business report, the World Bank lauded Togo’s results in the power sector. 

The country ranked 99th over 190 counties with a score of 72.6 points. The improvement was spurred by three main reforms: a 50% reduction in the fee to get connected to the grid for businesses, the reduction in the period to get connected to less than 30 days, from two and a half months in 2017; as well as a more efficient power supply. In 2019, Togo had ranked 105th in this report, with a score of 70. 

December

Eranove closes funding process for Kekeli Efficient Power thermal plant

Eranove closes the funding process for the Kekeli Efficient Power project - raising XOF65.4 billion from institutions and banks (BOAD, AFC, Orabank Togo, BIA Togo, NSIA Benin, and Banque Atlantique Togo). The operation was guaranteed by GuarantCo with XOF14.2 billion. 

AfDB invests about XOF9 billion in CIZO and PND

The government and the African Development Bank (AfDB) sign an agreement related to the CIZO’s social component, the PRAVOST, and the targeted support project aligning with the PND. 

Séna Akoda

Next April, Lomé should host the Etats Généraux de l’Eco summit. An initiative of the Togolese economist and former minister, Kako Nubukpo, the event should gather various experts who will discuss the Eco - which is expected to soon become West Africa’s new currency. 

The theme of the summit is: “Which currency for which development in West Africa? Eco 2020.”

Eminent African figures such as Mali’s Aminata Traoré, Carlos Lopese from Guinea Bissau, Cristina Duarte (Cape Verde), Felwine Sarr and Demba Moussa Dembélé (Senegal), Mamadou Coulibaly (Côte d’Ivoire), and Martial Ze Belinga (Cameroon), should be present. 

Nubukpo intends at the event to let African experts examine the currency, in order to provide appropriate answers to the various questions surrounding its effective implementation, in a few months. 

Let’s recall that so far, only Togo meets all convergence criteria for the adoption of the ECOWAS single currency. 

R.E.D

Since it was launched in 2014, the National Fund for Inclusive Finance (FNFI) claims it lent XOF87 billion to more than a million people. 

Last year alone, the fund registered 35,812 new beneficiaries and more than 32,000 renewals. 

According to reliable sources, the average reimbursement rate for the loans is 93%.

Part of the loans, it should be emphasized, went to annexed programs such as the national program for the promotion of rural entrepreneurship (PNPER). 

The FNFI’s purpose is to lend money, at low-interest rates, to citizens with no access to traditional financial systems, but who have various projects that can contribute to the growth of the Togolese economy. 

Overall, from 2014 to 2019, financial inclusion in Togo soared from 50% to 74%.