Togo's water utility, Togolaise des Eaux (TdE), inaugurated on 18 August 2020 two new commercial agencies, in Adétikopé (Agoè-Nyivé prefecture) and Djagblé (Zio prefecture) respectively.
According to TdE’s management, the agencies will provide water to people of these localities and enable the company to offer its customers better services.
"After completing these facilities as part of the Water and Sanitation projects, we decided to turn them into agencies so that our technical and commercial services can be close to the population, to identify their needs, and expand our network to their benefit," says the ToE director.
Each of the agencies has a building and a water tower (with a capacity of 400m3 for the one in Adétikopé, and 200 m3 for that in Djagblé). They were financed by the European Union, for a total cost of about 600 million FCFA.
Ayi Renaud Dossavi
Serge Ekue is the new boss of the West African Development Bank (BOAD). The Beninese thus takes the place of his fellow countryman, Christian Adovelande, who had been in office since 8 February 2011.
In a statement issued by the Bank, Togo’s minister of economy and current chairman of the WAMU council of ministers, Sani Yaya, announced Ekue’s appointment - a decision that was approved during the WAMU Conference of Heads of State and Government.
Before his appointment, Ekue, a seasoned financier, worked at Natixis as senior country manager for the UK, the head of global markets EMEA, and head of Africa for Corporate and Investment Banking.
Serge Ekue will assume the new position on August 28th, for a 6-year term.
Ayi Renaud Dossavi
In the past soybean marketing year (Oct. 2019 to July 2020), Togo’s export revenues amounted to around CFA 50 billion. The figure was disclosed last week by the interprofessional soybean council and relayed by republiquetogolaise.com.
Overall, the country which is striving to become a leading producer of organic soybean produced 167,100 tons of soybeans (organic and non-organic) over the period concerned.
Of this volume, 160,000 t were exported, 6,000 t were consumed locally and about 1,000 t remained with producers. A little over CFA 39.5 billion served to finance purchases from producers.
During the season reviewed, around 70,000 permanent and temporary jobs were created in the sector.
The figures, which are encouraging, according to actors of the sector should not overshadow challenges that the country still needs to overcome to consolidate good results in the coming season. Togo, it should be noted is the largest exporter of organic soybean to the European Union.
Ayi Renaud Dossavi
The International Renewable Energy Agency (IRENA) seeks consultants to implement a program to strengthen electricity grid infrastructure in the Economic Community of West African States (ECOWAS).
A call for proposals was launched in this framework. Applicants picked for the project will work closely with power companies, country regulators, and the ECOWAS regional center for renewable energy and energy efficiency. They will develop the best solutions (from a technical and economic perspective) to boost the potential of solar and wind energy in the region. Also, they will help build up national expertise in the sector.
In Togo, the project should significantly support the national electrification strategy. Under the latter, the country hopes to increase renewables share in its energy mix to 50% by 2030.
Let’s recall that at the moment, the ECOWAS has an installed capacity of 16 GW, generated mainly by thermal (68%) and hydropower (32%) plants, according to IRENA.
Consult the call for proposals here.
Deadline for applications: 31 August 2020.
Togo has again extended anti-Covid19 measures taken within the framework of the state of health emergency to September 15, 2020. The related order was issued on August 14.
Initially declared on April 1, the state of emergency was supposed to last three months but was later extended to August 16.
The exceptional situation, let it be recalled, allows the Togolese Head of State, Faure Essozimna Gnassingbé, to govern by ordinance to deal with the pandemic.
An online mining registry has just been launched in Togo. The platform was developed by the Direction Générale des Mines et de l’Energie (Directorate General of Mines and Energy or DGME).
Users can access, on the website, up-to-date data, mine maps, deeds, licenses, active firms, and the types of ores extracted in the country. This information will be updated daily, according to the DGME.
The creation of the digital platform was financed in line with Togo’s Mining Governance and Development Project (PDGM). With the website, Togolese authorities hope to boost mining activities, foster transparency in the sector, and attract more investments.
Séna Akoda
In Togo, the anti-covid-19 measures affected around 62% of jobs. The figure was revealed in a World Bank report published recently.
The document also highlights a fall in production and sales across many sectors. Among the latter, the services sector is the most affected by the pandemic with 49% of jobs affected. The remaining 13% of jobs affected are in the industrial sector, retail, construction, and tourism.
The World Bank’s findings align with those of the Central Bank of West African States (BCEAO) which reported that the tertiary sector is the most hampered by the coronavirus crisis in the West African Economic and Monetary Union (WAEMU). For Togo, whose economy is mainly tertiary and where services spearhead growth (airport and port activities), the situation is particularly challenging.
However, the Togolese government, well aware of the challenge it faces, launched last week a tax relief mechanism which covers sectors most affected by Covid-19.
Ayi Renaud Dossavi
For the third consecutive year, Togo improved its score in the World Bank’s country policy and institutional assessment (CPIA).
According to the latest update of the document released this month, the country scored 3.3, thus 0.1 points more than last year and above the average score of sub-Saharan countries.
Togo performed especially well - with a score of 3.6 - under the cluster of policies for social inclusion and equity while the public sector management and institutions cluster is the country’s Achilles heel with a score of 3.1.
The efficiency of revenue mobilization
Worth noting is the nation’s efficient revenue mobilization score (it appraises tax policies and tax administration) which contrasts with an overall decrease across the region. Indeed, in a context where the regional average for this criterion slumped from 3.4 in 2018 to 3.3 in 2019, only one country - Togo - improved its score while it fell in six countries, knowingly Burkina Faso, Eritrea, Liberia, Sao Tomé & Principe, Tanzania, and Sudan.
A big reformer
Already praised by the Doing Business, Togo’s efforts at improving its business climate were again confirmed by the CPIA authors who consider the country as a “big reformer.”
Among others, key improvements include broadening the tax base, introducing a new tax code, and creating a single account for paying VAT loans.
Gender equality
One of the main areas where Togo performed was the gender equality criteria which assesses the extent to which a country has created institutions and programs to enforce laws and policies that promote equal access for men and women in education, health, the economy, and protection under the law. While the regional average stands at 3.2, Togo, with a score of 3.5, is the only country where the equality rating has increased over the past year.
Regarding equity in the use of public resources, policies and institutions focused on ecological sustainability, the country scored 4.0. This makes it one of four nations to have improved under this criterion and one of two (the other being Mali) to have recorded an increase.
In the Africa zone
Out of the 39 IDA countries in sub-Saharan Africa that were featured in the World Bank’s CPIA, Togo ranked 15th. Rwanda obtained the highest score, 4.0, the same as last year. It is followed by Cape Verde (3.8), Senegal, Kenya, Uganda (3.7 respectively).
With a score of 3.2, Nigeria is behind Togo. Sudan comes last with a score of 1.4. Overall, 15 of the 39 countries assessed had a score lower than the average for the region.
Ayi Renaud Dossavi
Togo’s revenue authority (OTR) will soon launch an automated tracking system (ATS) to maximize revenue collection, trace some goods, and ease tax collection. The news was disclosed on republiquetogolaise.com, the government’s official portal.
Unveiled last week, the tool will also help ensure the safety and authenticity of goods concerned, expand the legitimate economy, prevent illegal imports, as well as the production and sale of fake goods.
The new system will be reinforced by a secure tax marking mechanism which will cover imported goods and goods consumed in the country.
Commenting on the new system, the OTR declared: “From now on, it will be impossible to import goods to Togo without the administration being aware. Every product that is not marked by the ATS will be seized by the customs office.”
Bridging a tax gap of nearly CFA15 billion
The move, according to the tax commissioner Adoyi Essowavana, should “boost the State’s revenues.” Indeed, the new system should help reduce the tax gap (the gap between expected and actual tax incomes) recorded for many consumer goods. This gap, estimated at nearly CFA15 billion, is due to parallel trade circuits, under-declaration, and under-evaluation of goods.
Ayi Renaud Dossavi
Togo has successfully completed its second issue of Covid-19 bonds, getting WAEMU investors to raise CFA160 billion for the securities. The operation, through which the country was seeking CFA70 billion, was oversubscribed at a rate of about 230%.
Of the 160 billion mobilized, the Togolese treasury will retain 108 billion to tackle Covid-19. Nominal value for the securities issued - fungible treasury bills - is CFA1 million and the maturity period is three months.
This second issue, it should be noted, comes after the first one that took place three months ago and closes the second phase of Covid-19 bond issuances within the WAEMU.
Séna Akoda