The ministry of justice announces a roadshow around the country to present a legal guidebook for land disputes.

This guidebook, elaborated to fight against land insecurity, contains 55 FAQs that clarify real estate laws.

For instance, this guide informs that land deeds obtained fraudulently or by irregular means could be invalidated. It also indicates that in case of conflict involving two land deeds that seem regular, the oldest takes precedence over the other.  

Via this guidebook, the ministry wants to lay the foundations for comprehensive land law in Togo. This roadshow has been thus organized because the magistrates’ understanding of this guidebook is important for its implementation. The project was presented during the ministerial council on June 17, 2019.

Let’s note that apart from the minister of justice, the minister of urbanisation, and representatives of the revenue authority (OTR) will be part of this roadshow.

Ayi Renaud Dossavi

Today June 18, 2019, a delegation of the ministry of agriculture has started a roadshow in the Plateau region (about 174 km from Lomé). The goal of this roadshow led by agriculture minister Noël Koutera (photo) is to meet with local farmers, processors and the ministry’s representatives in the region.

During the roadshow, the delegation will visit farms, take part in consultation meetings to present the government’s ambitions to farmers. The farmers will also be briefed on their roles for the agriculture sector’s development.  

The delegation will also lay the foundation stone of agriculture products commercialisation group NSCPA in Kamina. They will also visit ESOP riz Elavagnon and exchange with agriculture experts and entrepreneurs.  

Tomorrow June 19, 2019, the roadshow will end by a meeting with recipients of improved furnaces at Nangbéto and with fishermen, ice-makers and fishermen at Agbonou.

Séna Akoda

In its Global Peace Index 2019 (GPI), the Institute for Economics and Peace IEP observed that socio-political unrests in Togo over the 2017-18 period cost the country about XOF378 billion, or $646.9 million. This makes 5% of the national GDP.

Togo dropped 9 places in the ranking, compared to 2018, now being the 108^th most peaceful country in the world. It gets same score level as Côte d’Ivoire, Burkina Faso, and Uganda. Top 3 of ranking is comprised of Iceland, New Zealand and Portugal.

The 2019 GPI found that the economic impact of violence in Togo reached a bit over $1 billion over the period reviewed.

At the recently-ended Togo-EU economic forum, Germain Mèba, president of Togo’s chamber of commerce and industry, revealed that 141 bankable projects were retained by the committee specifically established for this purpose.

The projects are in various sectors, ranging from agriculture to tourism, including oil and manufacturing, and many more. They all align with one of the three axes of the national development plan.

Let’s recall that under the first axis of this plan, Togo plans to have a logistics hub and first-class business centre. Under the second, it wants to develop poles for agricultural transformation, manufacturing and extractive industries. In line with the last axis, Togo’s government plans to consolidate social development and reinforce inclusion mechanisms.

Séna Akoda

In Togo, the agricultural financing incentive mechanism (MIFA) has signed two agreements with European investors to promote made-in-Togo abroad. This was during the recent Togo-EU economic forum ended last Friday.

In detail, the first agreement is a letter of intention signed with German firm Better Eco. It defines the global framework of a coming convention to “reinforce technical and financial capacities of Togolese producers relating to biologic production in line with international, and European, quality and sales standards.” Products concerned here are ginger, soybeans, sesame, cashew, pineapple and shea nuts. A memorandum of understanding is expected in the next three months.

Regarding the second agreement, it was signed with agro-industry group Tropical Flowers. The latter committed to help MIFA secure funds to produce tropical and ornamental flowers.

The firm based in Togo has a 40 ha land where it produces flowers and employs 20 Togolese.

Ayi Renaud Dossavi

The US embassy has launched online a new training on social entrepreneurship for young Togolese.

The workshop which will last two months will profit those with “solid ideas fostering social transformation via social entrepreneurship.” Only 12 participants will take part in this first edition and classes will be given thrice a week.

Through the training, the US embassy wants to conciliate economic and social efficiency by involving the people through a single or multiple projects.

Social entrepreneurship is about undertaking an activity with limited profitability, practicing democratic management and fostering participation of people. All those interested in taking part in the workshop must be less than 40. Deadline for registration is June 21, 2019.

Séna Akoda

In 2018, foreign direct investments (FDIs) to Togo stood at $102 million, according to the World Investment Report released by UNCTAD on June 12, 2019.

This represents a 15% increase compared to the $88.3 million recorded the year before. It is the second consecutive rise in the past two years. The UN institution attributes this performance to the Free-Trade area of Lomé.

“In some cases, governments grant preferential rates to port services, telecommunications, power and water provided to firms established in economic zones,” says UNCTAD experts, quoting the law n°2011-018 on the status of Free Industrial Area in Togo.

The report is released on the sidelines of the first Togo-EU forum where Togolese authorities plan on securing part of funds it needs for the national development plan (PND). The document comes also on the same day the parliament adopted a new, more competitive, investment code.

In Togo, inward FDI stock stood at $1.79 billion in 2018, against $450 million ten years before.

FDIs rise in Africa while falling in other parts of the world

FDI flows to Africa, amid a global down trend (-13%), soared 11% to $46 billion, after slumping in 2016 and 2017. This is despite FDIs to major economies such as Nigeria, Egypt and Ethiopia having fallen over the period reviewed. Indeed, other countries, especially South Africa, counterbalanced these poor performances.

“This increase was fostered by the continuous resource-seeking, diversifying some investments and economic recovery in South Africa after many years marked by weak capital entries… A growing demand and rising prices of some basic goods, as well as greater investments in non-extractive sectors, largely drove up FDIs to Africa,” according to UNCTAD experts.

In West Africa, Ghana steals Nigeria’s crown

Last year, FDIs flows to West Africa slumped 15% to $9.6 billion, the lowest since 2006. In Nigeria, fears related to presidential elections paired with the government’s aggressive measures against some multinationals impeded direct investment. Data shows that FDIs to the West African country decreased by 43% in 2018.

Hence, Nigeria was dethroned by Ghana, now the leading receiver of FDIs in West Africa. This, despite foreign direct investments in the country fell by 8% standing at $3 billion. Most of the funds was injected in the gas and minerals industries.