Pro-Mangues Vo, a cooperative located in the maritime region, sold 30 tons of mangoes to the Ghanaian firm HPWfresh & dry ltd, HPW, on Wednesday Dec.11. 

This was revealed by the agricultural financing incentive mechanism (MIFA SA) which facilitated the deal. Few months ago, the mechanism had also facilitated the delivery of 1,500kg of beeswax to Koster Keunen West Africa (KKWA) by a group of Togolese beekeeping cooperatives. 

Moreover, in Aug-Sept 2019, MIFA eased the provision by financial institutions of around XOF3.8 billion in loans to actors to the agricultural chain of value. Its goal is XOF7 billion before the end of the year, impacting 130,000 jobs across the nation. 

R.E.D

Orabank recently invested XOF106 million in the installation of a transformation unit of paddy rice into white rice. The facility will be located in Kovié, about 30km from Lomé. 

The pan-African bank, let's note is the first bank to support the agricultural financing incentive mechanism (MIFA) since it was launched.  

The rice transformation project is led by Vabhekos, a firm owned by Kossivi Amentana. Rice processed will be sold under the La Paix brand. 

The Ris La Paix, according to Amentana, is available in 1kg, 5kg, and 25kg bags. 

Each year, let's recall, Togo produces more than 100,000 tons of paddy rice. 

Starting next year, individual projects will no longer be accepted for financing by the Culture support fund (FAC) in Togo. This was recently disclosed by the minister of culture, Kossivi Egbetonyo. 

The goal of the measure is to push actors of the culture industry to work together and submit to the government, true creative projects for financing, to improve their living and working standards, as well as create jobs and wealth in the country, the ministry's website indicated. 

Established in 2013, the FAC is a mechanism that supports cultural projects in Togo. So far, it has invested a little more than XOF1.8 billion in these projects.  

R.E.D

In Togo, the Association of Savings Cooperatives and Union (FUCEC-Togo) has released a new insurance product for actors of the informal sector. 

Many people work in the informal sector and are not entitled to a retirement pension. That's why we want to really innovate and help all these people, especially women sellers, workers, students, youths. In the long run, this insurance will be expanded to farmers also, said Essossimanadada Dadanema, a high executive of FUCEC-Togo. 

The product will be managed by CIF Assurances-vie, an institution that operates in the life-death-capitalization sector. It (the product) will benefit those who do not have access to insurance products. 

Séna Akoda

Nearly 100,000 actors operating in the road transports sector must be trained and professionalized, data from professional associations and syndicates reveals.  

In detail, this includes more than 95,000 drivers transporting people and goods, nearly 1,000 recognized intermediaries, about 2,600 owners of transport firms or entities, and 60 driving schools officially accredited by the State. 

While these figures are to be considered with care, since there is no real up-to-date registry, main parties concerned agree it is urgent to deeply reform the sector and professionalize its actors. 

Last Tuesday even, this was recalled. It was during a workshop organized in the framework of the project to make Togo's logistics services more competitive. The latter is led by the government, with the support of the International Road Transports Union (IRU) and the World Bank.

It aims at making the country's road transport sector more performant and professional, by 2022 - in line with goals set by the national development plan. 

Octave A. Bruce

A training workshop was started on Monday in Kara, in line with the launch of an agricultural hub in the region. 

The workshop is part of various activities initiated under a field visit of the Saemaul Foundation. It concerns agricultural advisors of ICAT, community leaders and Saemaul's staff. 

After the training, these actors will, in turn, help boost the capacities of farmers and rural actors. In this framework, they received 22 bikes which cost XOF55 million. 

The Saemaul foundation, let's recall, works with the government of Togo, on the Kara agropole project. 

The latter is the pilot of a larger programme under which many more agricultural centers will be established across the country. The next agropole to follow will be located in Oti. 

Séna Akoda

Cameroon wants to learn from Togo and Côte d'Ivoire to improve its ranking, relative to the business climate, on the next Doing Business report. The two countries the central African nation wishes to emulate were respectively first and second on this ranking in the Franc Zone. 

Cameroon's decision was reported in a statement from the National Employers' Association - GICAM. The latter assessed and compared performances of Central African and West African countries (in the latest DB report), in the Franc Zone. In the process, the association found that creating a business in Cameroon takes five days longer than in Togo. Also, it costs eight times more than in Côte d'Ivoire. 

Worldwide, Lomé gained 40 places in the latest Doing Business report. It also became this year the 15th country where starting a business is the easiest (from 84th the year before). 

Despite its moderate over-indebtedness profile, Togo is the country with the lowest external debt ratio in the Umoa, according to a BCEAO study published last week.

While overall public debt is struggling to fall below the EU's 70% mark, its external debt represents only 19.2% of GDP, down two basis points from a year earlier.

Togo is the least exposed to exchange risk in West Africa since its commitments are mostly in the local currency. The country also curbed its sovereign guarantees since it was negatively impacted as a result of massive prefinancing in infrastructure some years ago. 

Across the region, Côte d'Ivoire has the greatest external risk. The country's external debt represents 47% of its GDP. In Mali, it represents 29%, 28% in Senegal and 22% in Burkina Faso. 

According to the latest available data, outstanding external debts of WAEMU States stood at XOF17,656.4 billion at the end of December 2018 (against XOF15,658.6 billion at end-December 2017). This is up 12.8% and the debt represented 27.5% of the Union's GDP.