Togo First
Togo is working on an anti-drug policy for the 2020-2024 period
A three-day workshop was started last Tuesday by Togolese authorities to develop an anti-drug policy for the 2020-2024 period. If validated, implementing the new strategy should cost $21 million.
The new policy "focuses mainly on reinforcing the system of coordination designed to fight drugs, improve upon related repression and law enforcement operations, as well as any associated legal component." This was disclosed by Lieutenant-Colonel Amayi Kossi, Permanent Secretary of Togo's Anti-Drugs Committee. According to the official, the plan, which will span four years, will also involve "freezing and confiscation of criminals' assets."
At the launch of the workshop, the minister of civil security, Yark Damehane, who was present recalled some of the efforts made by the country to fight drugs. This includes the implementation in 2011 of the Mixt Unit for Container Control (UMCC) at the Port of Lomé, the creation in 2012 of the Anti-Trafficking Airport Cell at Lomé's airport, as well as the reinforcement of the legal framework for the fight against money laundering and terrorism funding.
Ayi Renaud Dossavi
From Lomé, ILO works to fasten formalization of informal economic operators
Last Monday, the International Labor Organization (ILO) organized in Lomé a regional forum on the formalization of informal economic operators. The event themed Formalizing the informal economy and ensuring social protection gathered public policies, social partners, and ILO experts to discuss ways to improve the lives of more than two billion people working in the informal sector worldwide.
On this occasion, good practices to foster the transition of the informal sector to the formal were disclosed. Moreover, it was revealed during the meeting that one of the best ways to improve the lives of informal actors (micro-entrepreneurs and others) was to provide them with better social protection.
Present at the forum, Mazamaesso Assih, State Secretary in charge of the Delegation for the Informal Sector's Organization (DOSI) mentioned efforts made by Togo in this area, noting among others the improvement of procedures required to start a business, as well as better access to public procurements. Other relevant achievements cited include the adoption of the new tax code and the creation of the National Fund for Inclusive Finance.
At the moment, revealed the State Secretary, there are ongoing talks for the implementation of a social protection regime for those operating in the informal sector which represents 80%-90% of the national economy.
Séna Akoda
Togo: Government steadily advances toward operationalization of its single land desk
In line with ongoing land reforms, the Togolese Revenue Office (OTR) will equip next month the single land desk. Two firms, namely CIS AFRICA and HI-TECH INFORMATIQUE, have been picked for this purpose through a tender launched under the Tax Governance Support Project (PAGFI).
The first company will supply IT and office equipment while the second will supply specific equipment for the desk. The equipment is valued at more than XOF275 million.
The equipping of the desk marks a step forward toward its operationalization.
Let's recall that, by establishing a single land desk, the government's objective is to reduce costs related to deed issuance and offset risks associated with land-related formalities. All formalities relative to land registration should take place at the desk, official sources indicate.
Séna Akoda
Togo exported XOF7 billion of cashew in 2018, against XOF2.5 billion the year before
Last year, Togo's cashew exports generated XOF7 billion, for a volume of 15,000 tons, according to data from the Central Bank of West African States (BCEAO).
Compared to 2017 where cashew exports amounted to XOF2.5 billion, this represents an annual growth of 180%.
This, it should be noted, is a trend sustained since 2016 where the exports were valued at XOF0.8 billion, before rising to XOF2.5 billion the following year. However, in 2014, the sector recorded a drastic fall in performance, due to the global commodity crisis. Indeed, that year, revenues from cashew exports tumbled by 70%, compared to 2013, to XOF600 million, and stagnated at this level in 2015.
In the first quarter of this year, Togo exported 1,035 tons of cashew to India, one of its largest customers says N'Kalo. This is an improvement compared to volumes sent to the sub-continent over the same period in 2018; this despite India's global cashew imports having fallen over the period.
Togo eyes a cashew output of 24,000 tons this year.
Ayi Renaud Dossavi
World Bank executive Coralie Gevers recently met with President Gnassingbé to review efforts in terms of public reforms
Recently granted an audience by President Faure Gnassingbé, Coralie Gervers, the new chief of operations of World Bank in Togo, Benin, Côte d'Ivoire, and Guinea, discussed with the leader ongoing reforms in Togo and how the World Bank can support their implementation.
Following the meeting, which is Gevers' first as the new chief of operations of the Bretton Woods institution, she commented: "We had an interesting discussion on efforts started some years now and how the World Bank could back them. We currently have a portfolio of about $400 million dedicated to the development of the private sector, economic growth, and job creation." This portfolio, she added, also helped improve service quality in health, education and social protection.
"We also talked about future actions and of our (ed. note: World Bank) commitment to the country's development policy," she added while referring to future plans relative to the support of the World Bank to Togo's 2018-2022 national development plan.
Séna Akoda
Togo and Burkina Faso boost bilateral relations with 14 cooperation agreements
The third meeting of the joint ministerial commission for cooperation between Togo and Burkina Faso has been concluded today October 9, 2019, in Lomé, Togo. This 2-day meeting was co-presided by Demba Tignokpa (photo, at the right side), Togolese minister of planning and cooperation, and Alpha Barry (photo at the center), Burkina Faso’s minister of foreign affairs and cooperation. During the meeting, participants reviewed the state of cooperation between the two countries.
In the end, 14 cooperation agreements have been signed, in various sectors like diplomacy, military cooperation, decentralised cross-border cooperation, agriculture, water and sanitation, higher education, health, and transportation.
According to Alpha Barry, these agreements reflect current concerns and their implementation will undoubtedly have positive impacts on cooperation between the two countries.
As far as Demba Tignokpa is concerned, these agreements constitute a significant step in the consolidation of the countries’ bilateral relations and will boost cooperation.
Let’s note that the fourth meeting is planned to be held in 2021 in Burkina Faso.
Ayi Renaud Dossavi
BOAD to build more than 162km of roads in Northern Togo
BOAD finances Togo’s Agricultural Development Support Project (PADAT) under which more than 162 km of roads will be built or rehabilitated in the Kara and Savanes regions.
In detail, respectively 84 km of access routes and 78 km of service routes will be built or rehabilitated in the two regions.
The service routes are located in four prefectures, namely Tône, Tandjoare, Kpendjal, and Dankpen while three are concerned by the works relating to access routes. The works are expected to last six months and are divided into five lots.
A tender has been launched to select firms that will undertake the project. Interested companies have until November 5, 2019, to submit their applications. Additional information is available at the ministry of agriculture which oversees the PADAT.
Séna Akoda
CCIT puts in place a specific entity to help SMEs manage their taxes and accountability
Togo’s Chamber of Commerce and Industry (CCIT) has created, with various partners, the Accredited Management Center (CGA) which helps businesses with a turnover of less than XOF100 million to efficiently manage their accountability, taxes, and elaboration of financial statements.
The firms will in turn pay the institution a percentage of their turnover every month.
"Monthly payments vary according to the turnover amount ranging from XOF5,000 to XOF60,000. In exchange, the CGA produces financial statements which beneficiaries have to submit to tax offices," Germain Meba, CCIT’s chairman told Togo First. Meba added that regional CGAs all over the country will be created by 2020.
In addition to the above-mentioned benefits, businesses adhering to the CGA also benefit from tax incentives. The latter spans five years according to the business tax regime (Single Professional Tax or Simplified Taxation Regime).
"Businesses that adhere to accredited management centers benefit from a 40% reduction in combined tax over the four years following the date of adhesion. In the fifth year, this reduction is brought down to 15%," declared Sandra Johnson, Minister-Counsellor to the President, in charge of Business Climate.
GIABA lauds Togo's efforts in tackling money laundering and terrorism funding
In its latest annual report on fighting money laundering and terrorism funding, released last week, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) lauded Togo for its improvements in this area.
The country has "demonstrated more commitment than in the past relative to the implementation of anti-money laundering and terrorism funding policies that meet international standards."
The regional institution then urged to pursue this path, to rapidly tackle "persistent shortcomings of its system."
GIABA, however, noted an increase in corruption level in the country, saying it impairs effective implementation of policies to fight money laundering. This despite the adoption of various laws to counter corruption and some condemnations even.
In 2018, Togo's financial information cells registered 323 declarations of suspicious operations over a total of 12,675 across West Africa. Most of these operations, 10,346 to be precise originate from Nigeria.
Ayi Renaud Dossavi
S&P affirms B-/B rating with stable outlook for Ecobank group
Standard & Poors has affirmed its B-/B long and short-term issuer credit ratings on Lomé-based Ecobank Transnational Incorporated (ETI) with a stable outlook. The rating agency issued a B/B ratings to the group's Nigerian subsidiary with a stable outlook as well.
According to S&P, the rating takes into account the group's strong presence in Africa, paired with efforts of its new management to tackle issues impairing the quality of its assets and financial performances.
"We think its unique pan-African franchise has attracted a stable base of institutional investors, including Nedbank, Qatar National Bank and South Africa-based Public Investment Corporation, which have positively affected the group's corporate governance and risk management," S&P stated in its report.
According to the agency's forecast, loans by the group should rise over the new twelve months while risk-related costs are expected to reduce, thus translating into better profits. ETI operates in more than 30 African countries.
Ayi Renaud Dossavi