Togo First
In the next two years, Gozem plans to enter nine more African countries
Gozem plans to expand to nine more countries in West, Central, and East Africa, in the next two years.
In West Africa, the transportation startup intends to extend its footprint to Nigeria, Ghana, Senegal, Côte d’Ivoire, and Burkina Faso. Meanwhile, in Central and East Africa, it eyes Cameroon, DR Congo, and Rwanda.
After barely a year of existence, the Gozem has recorded more than 250,000 downloads. It presently operates in Togo and Benin. The platform was launched by Nigerian entrepreneur, Emeka Ajene.
Séna Akoda
HeidelbergCement plans to invest $30 million in its Togolese activity in 2020
This year, HeidelbergCement will expand its Togolese subsidiary, Cimtogo, spending more than $30 million in the process. Eric Goulignac, MD of the German firm’s subsidiary, revealed this to the press on January 8.
Goulignac said: “This investment shows that HeidelbergCement believes in the growth potential of the Togolese economy, and is a way to contribute to its development, by using local resources, in line with the national development plan.”
In effect, the cement maker will increase, by a million tons per annum, the grinding capacity of Cimtogo’s factory in Lomé.
In the process, HeidelbergCement, which already claims nearly 4,000 direct and indirect jobs in Togo, plans to create 30% more direct jobs.
Counting the upcoming $30 million investment, the group would be investing a total of $250 million in the West African country, over a period of nine years.
Let’s recall that besides its plant in Lomé, Heidelberg has a grinding station in Kara and an integrated clinker plant in Tabligbo.
Séna Akoda
UMOA-Securities will leverage financial innovation to secure more investments this year
Yesterday, the UMOA securities market launched its second annual meeting in Dakar, Senegal.
This year, the event focuses on this market’s challenges, especially on ways to consolidate its leadership. According to UMOA-Securities’ managing director, Adrien Diouf, “the goal this year is to mobilize the whole financial sphere of our region to innovate and get more investors - institutions and individuals - to make the market more dynamic (…) Hence, helping our countries to raise enough for their budgets and development projects.”
Among measures discussed at the gathering, to achieve this goal, is the need for a better distribution of securities. This should significantly expand the investor base, as well as to help produce more sophisticated financial products.
In 2019, nearly XOF3,420 billion (about $5.8 billion) was raised on the UMOA-securities market.
Ayi Renaud Dossavi
APRODAT and Saemaul launch multiple initiatives to get Kara’s population to adapt to the sagropole project
The people of Kara will soon benefit from government-led initiatives, to improve the health sector in the region.
The initiatives will be specifically implemented by the national agropole development agency (APRODAT) and the South Korean foundation, Saemaul. They aim to better help communities in Kara adapt to the agricultural hub (‘agropole’) which is being established there.
APRODAT and Saemaul, let’s note, are the two partners on the nationwide project. The two have recently started campaigns to sensitize local communities about the huge agro-food project and its impact on their lifestyle.
Séna Akoda
Togo : A forum for agricultural businesses will be held on Jan 21-22
On January 21-22, there will be a forum for agricultural entrepreneurs.
On the occasion, 1,000 of these entrepreneurs will be pre-selected to take part in a training workshop baptized “Camp du Futur.” Out of these, 500 candidates -with the best business plans for their projects - will get incubated.
Next, 150 of them will get financial and technical support over a one-year period.
Séna Akoda
Oragroup joins ETI among BRVM’s top 10 performers
Oragroup recently became one of the top 10 most dynamic firms listed on the BRVM - West Africa’s regional stock market. The news was disclosed by the stock market after its quarterly review of its stock indexes.
Thus, the bank joins others like Total SN, CIE, CI, and becomes the second company based in Lomé, besides Ecobank, to be on the list.
Here are, in order, BRVM’s top 10 perfomers:
- ECOBANK TRANSNATIONAL INCORPORATED TG - ETIT
- SONATEL SN - SNTS
- SOCIETE GENERALE CI - SGBC
- TOTAL SN - TTLS
- ONATEL BF - ONTBF
- ECOBANK CI - ECOC
- TOTAL CI - TTLC
- CIE CI - CIEC
- ORAGROUP TG - ORGT
- SOCIETE IVOIRIENNE DE BANQUE - SIBC
Let’s recall that the BRVM Composite, and the BRVM 10, are the BRVM’s top two indexes. The second is reviewed four times a year.
Ayi Renaud Dossavi
200 local community actors are being trained to better tackle coastal erosion in Togo
Over a two-year period, 200 community actors of the maritime region will be taught innovative practices for sustainable land management. The ministry of environment, sustainable development and nature’s protection will be in charge of the training.
A selection notice was issued to recruit beneficiaries.
The training, let’s indicate, is part of the West Africa Coastal Areas Management Program (WACA ResiP), which is backed by the World Bank. The project aims to help those living in West African coastal areas, Togolese people, in this case, better tackle coastal erosion, sea pollution, and related issues.
Let’s recall that in the framework of the WACA ResIP, the World Bank and the Ministry of environment signed contracts to develop 11 community projects last November. In addition to these parties, civil society organizations and prefectural commissions for sustainable development were also among signees.
Also, let’s note that the World Bank has so far spent more than XOF1.5 billion in various projects in Togo.
Ayi Renaud Dossavi
Health: According to Global Fund, Togo better manages its subsidies than most countries in West and Central Africa
Compared to most other West African nations, Togo better manages subsidies provided by Global Fund to fight AIDS, tuberculosis, and malaria.
According to a report recently released by the Fund, 30% of subsidies secured by the country since January 2018 ($73.2 million) had been disbursed at June 2019.
The major recipient of the monies is the Project Management Unit (UGP) which is overseen by the Prime Minister’s office. The funds are injected into three health programs, all led by the ministry of health.
R.E.D
FC Barcelona will open its fourth academy, in Togo!
The news was announced by Claude Emmanuel Ajavon, partner of the football club during the second training course FC Barcelona organized in Togo. The latter ended on December 30, 2019.
Togo will be the fourth African nation where the club will have an academy. The other three being Egypt, Nigeria, and Zambia. FC Barcelona has 32 training academies all around the globe.
“This is a major achievement, both for Togo and Africa, especially given that a legendary club such as FC Barcelona always picks countries where it will open its academies with the utmost care,” Ajavon said.
Let’s indicate that the academy will have a main facility in Lomé, the capital, and others in other towns. Local players, as well as coaches, will receive training at the academy.
R.E.D
Togo will seek XOF25 billion on UMOA-Titres market this month
In the last quarter of 2019, Togo performed no operation on the UMOA-Titres financial market.
Now, the country seeks XOF25 billion which it intends to raise on this market, by issuing fungible treasury bonds.
The operation which should close on January 17, is predicted to mature over a year, with multiple interest rates. Its corresponding nominal value is XOF1 million.
According to the associated tender, the value date is January 20.
Funds raised by issuing the bonds will be used to finance Togo’s 2020 State budget. Moreover, it will help Togo assess how well it is trusted by investors in the West African Economic and Monetary Union (WAEMU).
Séna Akoda