Togo First
Togo : Public spending should reach XOF329 billion in 2020
Investment spending should grow by 15.8% next year, against this year's forecast (where it slumped by 9.5% compared to 2018).
Compared to the supplementary budget issued this month, forecast difference has been reduced to 1.5%.
The government plans overall to spend XOF329 billion on key projects aimed at fostering private investment (which let's emphasize are a major component of its national development plan).
While the education sector will greatly benefit from the rise in public spending, the State also intends to double its investments in the power sector, bringing it to about XOF80 billion. Health and public hygiene will also get a particular attention, with more than XOF44 billion to be spent on productive infrastructures and services. Same goes for infrastructure and transport.
Moreover, public investments in posts, digital economy, and technological innovations could quadruple next year.
Financing approved by the World Bank for the African Centres of Excellence project so far stands at $587 million
Adding up the recent facility of $131 million approved by the World Bank, the institution has disbursed so far $587 million for African Centres of Excellence.
According to Deborah Wetzel, World Bank’s Chief for Regional Integration in Africa, Middle East and North Africa, "the African Centres of Excellence are a major programme that helps African universities offer quality training and regional specializations which meet the needs of the employment market." This is in a context where "high-level skills are key to boosting productivity, fostering economic growth and creating jobs across the continent."
Under this programme, more than 70 centres of excellence have been established by 47 universities, across 20 countries.
Recently, it was announced that the University of Lomé would receive $12 million to build a regional centre dedicated to sustainable cities and another to power.
Séna Akoda
World Bank to provide $131 million to Togo and four others to boost higher education and accelerate economic growth
The World Bank will disburse an additional $131 million for Togo, Benin, Gambia, Niger, and Nigeria to improve the quality of their higher education and accelerate economic growth.
The facility was approved in the framework of the second project for African Centers of Excellence in the aforementioned countries. The funds will be provided through the International Development Association (IDA) as loans and subsidies. These will enable beneficiaries "boost the quality of training and applied research in key areas like science, technology, engineering, maths, health, and agriculture," reads a statement from the institution.
"The project will grant scholarships to Ph.D. students to reinforce institutional capacities, improve the quality and quantity of academic equipment, as well as academic capacity in benefiting universities."
It (the project) will also help consolidate activities of existing centres, by giving them a means to improve the quality of post-college education (Ph.D., Masters), short professional courses and collaborative applied research.
Séna Akoda
Togo: Amea Togo Solar secures deal to build a 50MW solar plant in Blitta
Amea Togo Solar will build a 50MW solar plant in Blitta (271km north of Lomé).
The related concession agreement was signed on November 26, 2019, by the firm and the government. Their respective representatives were Alnowais Hussain Jasim and Dèdèriwè Ably Bidamon, minister of energy.
Under the deal, the State grants Amea Togo Solar all rights to design, finance, build, launch, operate and maintain the facility. In return, the firm will transfer, after concession, power produced at the plant to the State, via the public utility network.
Let's recall Togo's ambition to provide power to two million people through solar, by raising the rate of electrification in rural areas. Indeed, it intends to increase it to 50% in 2022 (from 8% now, and 100% by 2030.
R.E.D
Togo: Non-tax earnings reached XOF46.64 billion in the past three quarters, up 4.18% y/y
Over the past three quarters, the State's non-tax earnings amounted to XOF46.64 billion, against an expectation of XOF80.4 billion for the whole year.
Year-on-year, this represents a 4.18% increase and 58.01% of the expected amount for 2019.
The growth was driven by administrative fees which stood at 3.28 billion (+30.37% year-on-year and 67.78% of the expected amount), business and estate revenues (29.94 billion at end-September 2019).
Let's also emphasize the notable increase in royalties paid for the rehabilitation of the airport of Lomé (+428.36%). Meanwhile, mining royalties soared by 21.21% year-on-year, reaching XOF1.78 billion at the end of September.
As a reminder, non-tax earnings cover income paid against a direct counterpart. They come from various sources and regroup all revenues not linked to a tax or a duty (such as remuneration for services rendered, miscellaneous income and dividends).
R.E.D
Franco-Malagasy Paulin Alazard is the new head of Togocom
Paulin Alazard is the new chief of Togocom. The Franco-Malagasy officially replaced Atcha-Dedji Affoh on November 25, 2019. On this occasion, Alazard said his actions would help make the holding one of the most important of the region.
Before assuming his new position, Alazard was deputy managing director and financial director of Telma Madagascar. He also previously worked at Celtel, Airtel, PwC, and Zain.
The change of manager occurs subsequent to the takeover of Togocom by its new majority stakeholder, Agou Holding (51%). The latter is a consortium that regroups Malagasy firms Axian Group and pan-African investment fund Emerging Capital Partners (ECP).
Agou Holding, in line with its development plan for Togocom, plans to invest nearly €245 million over the next seven years, in connectivity infrastructure, fibre optics and the deployment of 5G.
R.E.D
OTR trains large and medium enterprises on online payment
The Togolese Revenue Office (OTR) is currently holding a workshop on online payment for Large and Medium Entreprises. Started yesterday, it should close tomorrow.
The workshop aims at enabling its participants to "better apprehend e-payment's various processes."
It follows the implementation of a new reform enforcing the online payment of taxes and duties, on October 15, 2019. The reform is part of a battery of measures aimed at improving Togo's business climate.
This recent reform was born from partnerships between the OTR and various banks including Orabank, the BTCI, and Ecobank. It falls under a more global strategy of the OTR to digitalize its services.
Séna Akoda
HTCE's recently appointed delegates will be officially inaugurated at the coming diaspora forum
On November 28 and 29, Lomé will host the HCTE-Réussite Diaspora forum. The event which is organized by the ministry of foreign affairs aims at strengthening relations between Togo and its diaspora (about 1.5 million Togolese living outside the country).
At this occasion, all 77 recently elected delegates of the High Council of the Togolese Diaspora (HTCE) will be officially inaugurated. Moreover, the second edition of the Diaspora Awards Night (Nuit des Réussites Diaspora) will be held during the forum.
The HTCE was established to better engage the diaspora, in Africa, Europe, and North America in the country's development. Its delegates who were elected last September are in charge of four regions: Africa (45 delegates), Europe (19), America (6), and Asia-Oceania (7).
R.E.D
Togo: Lomé's airport paid the State XOF3.54 billion of royalties over the past three quarters, far above expectations
Over the past three quarters, Lomé's airport generated for the State XOF3.54 billion of royalties.
This figure is 168% more than the amount expected by the government under its 2019 finance law (2.1 billion). It is also far above the XOF670 million collected last year over the same year.
In detail, the AIGE paid 1.19 billion in the first two quarters, and 2.35 billion in the third.
Let's recall that over the first five months of 2019, traffic at the airport was estimated at 150,660 arrivals and 95,279 departures. These represent respective increases of 13.3% and 7.8% compared to the year before.
R.E.D
Togo: Ivorian firm ABB TECHNOLOGY wins contract to rehabilitate energy infrastructures under the PRISET project
In Togo, many power facilities will be rehabilitated and reinforced through the power reform and investment project (PRISET).
The works have been divided into two contracts. The first was attributed to STEG INTERNATIONAL SERVICES from Tunisia and the second to ABB TECHNOLOGY from Côte d'Ivoire.
Works to be carried out by the Ivorian should cost around XOF1.7 billion, according to the award notice released by the CEET, Togo's public utility. They cover the rehabilitation of sub-stations.
ABB TECHNOLOGY will have 12 months to complete the works which it should be noted align with the country's electrification strategy to achieve universal access to power by 2030.
Séna Akoda