Togo First
Togo updates social action strategy, amid rising poverty
Last month, the ministry for social action, the promotion of women and literacy, updated the national social action strategy (PNAS). This was at a validation workshop organized with the support of partners such as UNICEF.
The update aims at tackling the poverty level, which has risen in Togo over the last decade, as well as foster decentralization. It aligns with the national development plan’s third axis (focused on social improvements).
According to the general directorate for social action: “Many projects fall under the updated strategy, all of which are similar to those planned in the framework of the national development plan.” Such projects include the social security net systems and the money transfer project for vulnerable populations.
The document, let’s emphasize, however, still has to be adopted by the ministers’ council before being effective.
R.E.D
Lomé to soon get a manual to better monitor, physically, State investments
Togo will soon get a manual on investments made by the State, public institutions and communities.
The document will explain “how authorities evaluate, monitor the use of financial, technical, and human resources, as well as results produced, and their efficiency in relation to set goals and deadlines.”
The advisor in charge of producing the manual will define processes, roles, and tasks of concerned parties, based on physical assessments of public investment programs and projects. They will also develop tools to collect on-field data, in addition to submitting a report template for the physical evaluations’ results, and a harmonized method to assess completion rates of the projects.
The manual, it should be noted, aims to support the government’s efforts to improve economic governance.
Séna Akoda
Togo works on a law to regulate weapon trafficking and use
In Lomé, the CNLPAL and the European Union are currently holding a four-day workshop to produce a roadmap - that will subsequently yield a bill - to better control and monitor light weapons in Togo. The workshop started yesterday, January 6, 2019.
Mainly, participants of the meeting will expand on good practices in use at the global level, relative to weapon control. This, in addition to studying the projected bill.
Regarding the latter, it focuses on the exportation and importation, transit, transhipping, and brokering of arms. Moreover, the draft bill also aims to regulate and monitor weapons’ whole lifecycle, from manufacturing to disposal. The document will thus include laws on carrying and transfer.
The CNLPAL is the national commission in charge of preventing the proliferation, circulation, and illegal trafficking of small arms and light weapons.
R.E.D
Digital Sector: A Review of Key Highlights in 2019
Just like in 2018, Togo recorded major achievements in its digital industry over the past year. The following are the key highlights of the country’s realizations in this sector.
January
Cina Lawson, who previously held the title of minister of posts and digital economy, becomes the minister of posts, digital economy, and technological innovations. The added attribute allows the official to promote tech innovations as well as the installation of tech hubs.
Lomé launches a tender in line with the privatization of Togocom
The government decides to privatize Togocom, by selling part of its stake in the holding. Lomé subsequently launches an international tender to select a strategic partner in the framework of this process.
General meeting marking the beginning of the Carrier Hotel’s construction
Three weeks after the laying of the first stone of this data center, authorities hold a meeting to launch related works. This markets the start of fifteen months of works, at a cost of XOF12.2 billion - fully financed by the World Bank.
Togo Telecom’s license is renewed, till 2036
The council of ministers endorses Cina Lawson to sign the decree renewing the license of Togo Telecom, the public landline company. The license will expire on December 36, 2036.
February
Togo puts in place a National Cybersecurity Agency (ANCY)
About two weeks after the parliament adopts a law to foster cybersecurity and fight cybercrime, the government releases details about the ANCY - the new national agency for cybersecurity. A decree setting its attributes, structure, and functioning, is also passed.
March
Government launches a mobile-based platform to ensure sustainable access to drinking water in rural areas
SOFIE stands for “Suivi des Ouvrages de Forage et des Indicateurs pour l’Eau”. The government launches this project to ensure permanent and sustainable access to clean water in rural zones, through realtime monitoring of wells. Leveraging mobile phones, the project helps quickly detect and locate, and fix faulty wells.
Togo and two others launch the world’s first impact fund using blended finance to invest in companies that use new technologies
Bamboo Capital Partners, Moeda Seeds Bank, and the government of Togo, announce the launch of the BLOC Fund, at the African CEO Forum in Kigali. BLOC is the first impact fund in the world which uses blended finance to exclusively invest in companies that use new technologies, in particular, blockchain, to benefit the low- and middle-income populations in emerging markets.
Lomé partners Asseco Data Systems, to set up Cyber Defense Africa
In Kigali, still, the government teams up with Asseco Data Systems, a polish IT firm, to set up Cyber Defense Africa. This is a joint-venture that will enable the creation of a national center of security operations (SOC), and of computer emergency response team - a first in any African country.
April
The capital hosts the fourth Digital African Tour
For the fourth consecutive year, Togo hosts this regional forum dedicated to digital transformation. Topics covered at the event include digital professions, access to broadband internet, e-payment, and cybersecurity.
The “Connected Community of Tomorrow” (Communauté Connectée de Demain) project is launched
Launched by the government, BBOXX, EDF, CEET, and Togo Cellulaire, this project aims to set up small power plants in rural areas, mostly. Benefiting communities, 315 overall, should through the initiative, have access to telecoms networks and relative services.
July
Customer service organization, Majorel, opens a subsidiary in Togo
This firm, which operates in more than 30 countries, worldwide, opens an office in Togo and says it hopes to hire 500 young Togolese by 2021.
August
Telecom regulator ARCEP inaugurates its new headquarters
Located in Lomé, the new headquarters of the Togolese Regulatory Organ for Posts and Telecommunications (ARCEP) is inaugurated after 60 months of works. XOF2.2 billion was spent to build the facility.
The government partners CFAO Group and Toyota Tsusho Corporation to boost its administration
Togo signed at the TICAD 7, a memorandum of understanding with CFAO Group and its parent company. Besides reinforcing its administration, the document aims at helping the West African economy develop clean energies.
October
The law on the protection of personal data is adopted
Adopted by the parliament, this law fills a gap and is based on global standards.
Togo speeds up the adoption of terrestrial television, DTT
Deputies adopt a bill on broadcasting and pull a key lever to adopt DTT. At the same time, the creation of a public company to handle the digital signal broadcasting is announced.
November
Agou Holding acquires the government’s 51% stake in Togocom
The consortium’s bid was selected by the government in the framework of the tender launched at the beginning of the year. Agou Holding which regroups Axian Group and Emerging Capital Partner (ECP), thus takes over the public holding, at the time valorized at more than XOF210 billion. The consortium says it will spend about XOF160 billion in the country’s digital sector, over the next seven years.
Jack Ma in Togo
The founder of the gigantic e-commerce platform, Alibaba, meets around 20 young African leaders in Lomé, as well as with some Togolese officials. He talks about the digital revolution and investment strategies in the e-commerce industry.
The e-gouv project is transferred to the Digital Infrastructure Company (Société des Infrastructures Numériques - SIN)
The government, by decree, sets up the SIN, to which it transfers the responsibility to manage its e-gouv project.
Octave A. Bruce
After launching operations in Lomé, in 2017, Afrik Assurances wants to expand to Benin and Côte d’Ivoire
Lomé-based insurance broker Afrik Assurances plans to expand to Côte d’Ivoire and Benin, early this year. According to Jeune Afrique which reported the information, the audit-counseling firm should establish its new offices in Abidjan and Cotonou.
The move is part of the expansion strategy of the pan-African business in West Africa.
Afrik Assurances was founded by the former Togolese banker Georges Kavege. It started operations in Lomé in October 2017, under the supervision of its parent company, Afrik Global Investors Group. The latter - a holding and asset management firm - is also based in Lomé.
Togo perfects its strategy to fight money laundering and terrorism financing
Earlier this week, actors fighting money laundering and terrorism financing in Togo held a workshop. The latter was to review, amend and validate a general report on the nationwide assessment of risks (ENR) related to these practices.
The actors also gathered to perfect the action plan established to effectively carry out the ENR’s instructions. In this framework, a bill is being studied - and it should make sure that the country meets international standards, relative to actions against money laundering and terrorism financing.
The workshop, which lasted two days, was organized by the country’s financial data management center (CENTIF Togo), and the inter-ministerial committee for the monitoring of actions against money laundering and terrorism funding.
The ENR, let’s recall, is a key component in the country’s strategy to stem the aforementioned practices.
R.E.D
The outstanding payment for the 5-year bond Lomé issued in 2018 will be made next month
On January 26, 2020, Lomé will repay the balance and interests related to the five-year bond it contracted in 2018. The total sum, XOF43.315 billion, will be paid in line with a management strategy of the country’s domestic public debt.
The news was reported by the regional stock market - BRVM - citing the managing director of Togo’s public accountability and treasury office.
The bond which should have matured in 2023 was entitled “TPTG 6.90%, 2018-2023.” Togo issued the bond to partly pay domestic debt arrears, as well as finance key projects.
The transaction recorded a subscription rate of 103% and helped Lomé raise XOF61.879 billion (while it initially sought XOF60 billion).
Let it be noted that part of the loan was repaid through regular installments, on a semester basis.
Séna Akoda
Lomé hosted last Friday its first annual treasury services conference
Last Friday, Lomé hosted its first annual treasury services conference.
The theme of the event was “Mobilizing internal resources for sustainable development.” Participants present noted the State’s growing needs emphasizing that no country can grow without internal resources - which regroup tax and non-tax resources. The latter makes up nearly 90% of the State budget and thus are key to enabling the State achieve its objectives.
The event was the occasion to deeply assess the collection of the State’s resources, as well as explore ways to improve at the level of public health centers and local authorities. “We know we can do better regarding the mobilization of resources. We are waiting for the implementation of a strategy that will help us collect more internal resources, non-tax resources especially,” declared Ekpao Adjabo, Director-General of the Treasury and Public Accountability.
Séna Akoda
Togo successfully secures its first international loan, without the World Bank’s guarantee
Togo recently closed its first international loan, with Lazard Frères as its advisor for the operation.
The private loan, fully insured by the Africa Trade Insurance Agency (ATI), is to be paid over 10 years with the annual interest rate set at 5% (similar to an international loan that Benin secured recently, with a World Bank’s guarantee, however).
Let’s indicate that the World Bank which was supposed to guarantee the loan did no more. Indeed, the institution’s new president, David Malpass, after his appointment, decided to switch the guarantee for budgetary support, deeming the former more suited to the private sector.
MIFA partners with BB Lomé and producers to bolster the rice sector
BB Lomé, all Producers Organisations and Service Businesses’ Associations (ESOPs), and the Incentive Mechanism for Agricultural Financing (MIFA SA) signed yesterday a partnership agreement. The document was signed at the headquarters of BB Lomé, Togo’s largest brewery.
Under the convention, the three parties are to promote financial services adapted to agriculture, to the rice sector especially, over three years.
An ESOP, let’s recall, is a social business establishing a commercial-institutional partnership between a private actor and organized producers, to better meet unsatisfied or poorly satisfied needs. Its main purpose is to connect producers, sustainably, to profitable markets, hence increasing and securing their income.