Togo First
BOAD and ABREC looking to partner to boost renewable energy development in West Africa
The West African Development Bank (BOAD) is exploring with the African Biofuel and Renewable Energy Company (ABREC) a potential partnership to advance the financing of clean energy projects.
To this end, the BOAD’s chairman, Serge Ekue, and ABREC’s CEO met on November 10. According to Ekue, their talks were conclusive.
ABREC promotes the use of renewables and energy-efficient technologies in West Africa. Founded with a share capital of more than CFA2 billion, the company’s main mission is to make it easy for investors to inject funds into projects aimed at boosting Africa’s resilience to climate change.
Séna Akoda
Regional integration: WAEMU Commission reviews reform implementation in Togo and other states
This week, the commission of the West African Economic and Monetary Union (WAEMU) is assessing in Lomé the implementation of political reforms, community projects, and programs in Togo. The initiative falls under the commission’s sixth reform review, focused on accelerating regional integration. In detail, 116 regulations, as well as 11 community programs and projects will be reviewed.
These aim at ensuring the efficient harmonization of national laws, the coordination of the sectoral policy, and the good execution of community reforms, programs, and projects.
“This initiative encourages emulation among the various member States since its goal is to determine each State’s integration level,” said Raymond Kripkeu, country representative of the Commission. Regarding Togo, the WAEMU commission notes that it made progress relative to the implementation of the reforms concerned.
Indeed, Togolese authorities indicate that “in 2017, our reform implementation rate was around 62% and 64% in 2018. In 2019, Togo recorded a significant jump to 71%.” Concerning community projects, the country’s implementation rate is 66%.
This puts Togo among the WAEMU States making substantial progress.
Nevertheless, the impact of the coronavirus pandemic on reform implementation must be assessed to have a clear picture of the country’s performances relative to the implementation of reforms aimed at fostering regional integration. The pandemic has indeed greatly affected not only Togo’s but the plans of all WAEMU member States in this regard.
Ayi Renaud Dossavi
BBOXX seeks a managing director in Togo
UK-based power developer BBOXX is seeking a managing director to take over its Togolese subsidiary. Applicants should preferably be Togolese citizens or from the diaspora.
The new manager’s main mission will include the continuation of BBOXX’s expansion strategy in the local market.
Active in Togo since 2017, the firm sets up domestic solar systems across the country. It was for a long period the sole partner of the CIZO presidential project to boost access to off-grid electricity in rural areas. Two years ago, BBOXX entered a joint venture with French company EDF, to speed up investments in and boost Togo’s off-grid network.
Togolese Phillippe Tchodie becomes President of African Tax Administration Forum (ATAF)
Philippe Kokou Tchodie, the general commissioner of Togo’s revenue office, was recently appointed as chairman of the African Tax Administration Forum (ATAF).
Appointed during the ATAF’s latest virtual general assembly, the Togolese will lead the organization for two years. He will head the representatives of the body’s offices in South Africa, Burundi, Kenya, Morocco, Mozambique, Rwanda, the Gambia, Uganda, and Zambia.
Established in 2008, ATAF is an intergovernmental organization that promotes cooperation between African tax authorities. It’s the first time that a Togolese is heading the organization.
Ayi Renaud Dossavi
Backed by PAIEJ-SP, a cassava processing plant is being set up in Atakpamé
In line with its ambition to optimize the cassava value chain, the Nouvelle Société de Commercialisation des Produits Agroalimentaires (NSCPA) is setting up in Atakpamé (161.5 km from Lomé) a cassava processing plant.
For this project, the NSCPA was backed by the Projet d’Appui à l’Employabilité et à l’Insertion des Jeunes dans les Secteurs Porteurs (PAEIJ-SP or Program Supporting Youth Employment and Insertion in Promising Sectors). According to PAIEJ-SP, equipment at the new plant is already being assembled.
Yearly, the plant should process 15,000 t of cassava or about 50 t per day.
According to the AfDB, which is its main financial sponsor, “a year into starting operations, the PAEIJ-SP facilitated the creation of 25,635 direct jobs, 27% of which were secured by women. The project backed 1,793 agricultural associations and trained 15 financial institutions on the financing of agricultural value chains. It also improved access to financing for 16 SMEs, trained 31 executives on managing data systems related to the job market, and created a single ID system to keep track of youth integrated to its entrepreneurship support program.”
Séna Akoda
Government takes new steps against corruption
Last Thursday, the Higher Authority for the Prevention and Fight against Corruption and Related Offenses (HAPLUCIA) set up a committee to steer an upcoming national strategy to fight these crimes. This committee has 40 members.
The move aligns with the government’s desire to restructure the HAPLUCIA and fight corruption more efficiently.
Indeed, against expectations, the institution’s establishment did not significantly curb corruption in the country. This is reflected in the recent Transparency International index.
Séna Akoda
Togolese revenue office offers a major discount on goods and vehicle clearance
From now till December 24, 2020, Togo’s revenue office (OTR) is offering a 40% discount on clearance fee for vehicles and goods not yet delivered.
The move, which aligns with the OTR’s tax relief strategy, will help boost the clearance of the goods mentioned. This is a Christmas gift that should very much please businesses, importers, exporters, tax commissioners, and consignees.
It should be noted that a similar campaign was initiated at the end of 2019, and many other times throughout that year. Those interested in the offer had to apply.
Séna Akoda
EU and Germany support the ECOWAS States in the fight against cybercrime
To help fight cybercrime, the European Union and Germany will provide €7 million to the ECOWAS States. The financing falls under a project backed by the German Cooperation Agency (GIZ) and Expertise France.
In effect, the funds will be used to reinforce information infrastructure, improve cybercrime laws - in line with regional, continental, and international standards, and train actors engaged in the fight against cybercrime in the region concerned.
On October 30, 2020, the ECOWAS, the EU, and Germany officially began their collaboration, under the cybercrime component of the West African Response Against Organised Crime (OCWAR). Besides cybercrime, the megaproject also tackles trafficking, money laundering, and terrorism financing. It is set to run through 2022-2023.
Nearly 10,000km of rural roads will be maintained every year
Togolese authorities plan to ensure the annual maintenance of over 9,800 km of rural roads in the country. In detail, every year 7,020 km will be maintained manually and 2,808km mechanically.
This was disclosed by the minister in charge of opening up rural areas, Issa-Tchédé Kanfitine, during a meeting with the various actors concerned by the project.
The latter, it should be noted, falls under the ministry’s roadmap for 2020-2025. It is similar to the rural road support project which under its third phase benefited from a CFA6.5 billion financing in September 2020.
Let’s recall that more than 2,500 rural roads have been rehabilitated in recent years. In 2016-2018 for example, the government injected substantial amounts in transport infrastructure, especially in rural areas, to enhance economic activity in these parts of Togo.
Séna Akoda
MPs approve Togo’s adhesion to AIIB and AFC
On November 5, the Togolese parliament approved the country’s adhesion to the Asian Infrastructure Investment Bank (AIIB) and the Africa Finance Corporation (AFC).
Togo will leverage the two institutions’ support to “conceive, finance, and undertake infrastructure projects that will help our country grow,” declared Sani Yaya, Minister of Finance and Economy.
Founded by China, the AIIB is a multilateral finance institution dedicated to rising needs for infrastructure. As for the AFC, Africa’s second multilateral finance institution, it has injected about $4.2 billion in various projects carried out across the continent. The AFC was established to tackle insufficient investment in infrastructure in Africa.
In the event Togo adheres to both institutions, it will have access to funds at lower rates, as well as to other partners to help it finance its 2020-2025 development roadmap.
Séna Akoda