Last Tuesday, a delegation of executives from the HAROPA, a group of French economic actors from the ports of Le Havre, Rouen, and Paris, visited terminals of the Port of Lomé. This, they did with the top management of the Autonomous Port of Lomé (PAL), in the framework of cooperation and reinforcement of exchanges between the French ports and Togo's.

The French delegation said they were "impressed by Lomé's very modern terminals, their significant processing capacities and the port's transformation in recent years."

This second follows a similar one dating back to 2015. It is part of an African tour organized by the HAROPA. According to Pascal Gabin, head of the French delegation, it came to review progress made by the port of Lomé and assess its future development orientations.

Moreover, the visit aimed to "reinforce ties between HAROPA ports and those situated along the West African coasts," with a particular emphasis on the port of Lomé.

Ayi Renaud Dossavi

In Q2 2019, microfinance institutions operating in Togo have collected 14.2% more deposits year-on-year, data from West African States' Central Bank (BCEAO) indicates.

While lower than the figure recorded the previous quarter, this is the second-highest growth rate within the West African Economic and Monetary Union (WAEMU), behind Mali (+16.4%) which is the largest contributor on this segment.

Nipping at the heels of Togo was Côte d'Ivoire (+14.1%), followed by Senegal (+10.5%), Benin (+5.4%), Burkina Faso (+3.4%) and Niger (+1.2%). In the Union, only Guinea Bissau recorded a decrease (-33.7%) during the quarter of interest.
Overall, deposits collected across the WAEMU amounted to XOF1,441.5 billion in Q2 2019, up 10.3% compared to Q2 2018 (XOF1,307 billion).
Regarding outstanding loans at Decentralized Financial Systems (SFDs), they upped by 11.6% in Togo over the period reviewed.

These figures were recorded in a context that fosters inclusive finance according to the central bank (with gross portfolio degradation having slightly fallen, from 8.9% at end-June 2018 to 7.4% at end-June this year; against a standard of 3% in the sector).

Let's emphasize that recently, the government, to improve microfinance and subsequently inclusive finance, has withdrawn from multiple microfinance institutions, their operating license.

Ayi Renaud Dossavi

On October 16, the WAEMU commission proceeded to the technical phase of its yearly annual review of its reforms, policies, programs, and projects. The session takes place in Bamako, Bissau, Cotonou, and Ouagadougou and should end next Friday and be replicated in Abidjan, Dakar, Lomé and Niamey from October 21 to 23.

This review allows the commission and WAEMU States to assess the implementation of 113 regulatory acts, 98 community programs and projects.

In 2018, it helped achieve significant progress regarding the transposition and implementation of community reforms. Indeed, overall, the average rate of implemented reforms across the union soared from 62% in 2017 to 69% last year.

Togo in this aspect recorded an implementation rate of 65% in 2018.

Séna Akoda

In Togo, 317 rural communities will be provided electricity using solar mini-grids.

This is a project financed by the BOAD and it entails the development, co-financing, construction, and maintenance of the mini-grids and distribution networks. It also includes the distribution and sale of power to customers and the transfer of the grids after the related license expires.

Overall, the project should cover 45,000 people, generate 11,000 kW and lay 480 km of distribution lines.

To undertake the project, the Togolese Agency for Rural Electrification and Renewable Energies, AT2ER has issued a pre-qualification notice to select the mini-grids developers. The call to the manifestation of interest will end on November 28, 2019.

This project is subdivided into five parts. The first will cover 85 communities, the second 62 communities, the third 78 communities, and the last two 46 communities respectively.

Through this project, Togo will take another step towards its goal to achieve universal electrification by 2030. Let's recall that last July, the CIZO project had already helped provide power to more than 23,000 households with solar kits.

Séna Akoda

Togolese Pascal Ayayi Creppy (picture), was just appointed Export Director of the French group Hydrimpex. The latter specializes in making and designing clean water supply equipment for export and is also active in the oil and gas sector.

At his new position, he will contribute to the expansion of the multinational in sub-Saharan Africa where it already operates in at least 21 countries, as well as facilitate talks with public and private actors engaged in the clean water sector.

Graduate of the Business Administration School of Lille, Pascal Creppy has been counseling for years many firms based in Val d'Oise to invest in Togo, and vice-versa at times. He focuses mostly on the corporate social responsibility of businesses.

"We will work to promote trade with sub-Saharan Africa while improving the quality of water populations have access to every day... by emphasizing ethics, neutrality and beautiful energies," declared the Togolese upon his appointment.

Togo's public authorities have established an inclusive federation for cashew to oversee the sector. At the head of the new institution that regroups producers, buyers, and processors is Elisabeth Essodolom Pali-Tchalla (photo), CEO of the Société Togolaise du Karité (STK).

With a team of 11 people, Pali-Tchalla is tasked to, over a four-year period, remobilize all actors of the cashew sector, initiate its transformation and defend its interests.

Though Togo is the 7th largest cashew producer, the country still faces many structural and organizational shortcomings including a low production capacity and insufficient equipment for processing.

Between August and September 2019, the Mechanism for the Promotion of Agricultural Financing (Mifa SA) based on risk-sharing, eased the provision of a little more than XOF3.8 billion of loans to actors of the agricultural value chain by financial institutions.

The funds which benefited both farmers and owners of agro-food processing units and agricultural service providers helped finance 200 projects. Overall, there were 51,667 registered beneficiaries for a total of 85,951 jobs impacted, according to Mifa SA.

Of all the projects that profited from the funding, rice, soybeans and input projects gained the most, securing more than 80% of allocated monies.

In detail, 52% was dedicated to input, 16% to produce and sell soybeans, and 13% to produce rice.

Next, are poultry (5%), sesame production (5%), production and transformation of tomatoes (3%), and maize production (2%).

Ayi Renaud Dossavi

Teolis, the Togolese Internet Service Provider (ISP), has partnered with Outre-Mer Network to launch multiple projects.

At Station F, Europe's largest startup campus, the two firms signed the related agreement under which they will incubate young Togolese entrepreneurs.

In the framework of the new partnership, Outre-Mer Network just opened an office in Togo at the Teolis Foundation.

Outre Mer Network is a platform dedicated to making entrepreneurs more visible in France. It achieves this goal by fluidifying communication between entrepreneurs, project carriers, teaching the younger generations about networking, providing financing solutions, and valorizing entrepreneurship, among others.

Séna Akoda