Togo First
Togo seeks about $100 million for its new forest management plan
To foster a sustainable management of forests in the country, Togo’s government just developed and put in place the national forest investment plan (PNIF), valued at $101 million.
The 2018-2022 plan includes three main axes, namely: managing protected areas, managing forest ecosystems, and third sensitization and resource mobilization.
Regarding the last, fund mobilization, a meeting was held in Lomé on May 6, 2019, to discuss the matter. Togo’s technical and financial partners, actors of forest sector, representatives of the public sector and of the private sector also were present at this roundtable. The goal here was to explore opportunities for partnerships, as well as cooperation and financing mechanisms to back the PNIF.
Togo’s new plan, let’s indicate, aligns with a forest ecosystems convergence programme. The latter which involves coordinating the management of forest resources in West Africa was voted by ECOWAS member-States in Abidjan this year.
From 24.4%, Togo wants to increase its forest coverage to 30%.
Ayi Renaud Dossavi
West Africa’s mango exporters to soon be hit by new sanitary directive regulating exports to EU
From next September 1, the European Union’s new directive on mango imports will be applied. This was disclosed by the Europe-Africa-Caribbean-Pacific Liaison Committee (COLEACP) in a release dated April 29, 2019.
According to the directive, mango exporters from West Africa, thus Togo, must verify that “the mango has been subjected to an effective treatment to ensure that is free from Tephritidae (ed. Note: fruit flies), and the treatment data must be included in the phytosanitary certificate.”
The move comes in response to high numbers of mangoes infected by the pest.
Another rule set by the COLEACP is that “the treatment method must be communicated (in written) to the European Commission by the exporting country’s national plant protection organization,” before the next mango season.
In West Africa, countries exporting mangoes to the EU are mainly Côte d’Ivoire, Senegal, Nigeria, Mali, Burkina Faso, Guinea, and Togo. They export the Kent variety which is the most sought after on the European market.
Regarding Togo, it produced 6,200 tons of mangoes in 2010, valued at €687,000 according to the ECOWAS. A very little output compared to neighbors like Nigeria, largest producer in the region, or Senegal which produced 18,395 tons in 2018.
Ayi Renaud Dossavi
National fund for inclusive finance urges youth and women entrepreneurs to manifest their interest for public procurements
The National fund for inclusive finance (FNFI) invites all young entrepreneurs, and businesswomen, to apply for a contract to make T-shirts and another relating to the purchase of hardware supplies.
For the first contract, the call to manifestation of interest targets youth and women entrepreneurs all over the country and registered on the website of the national directorate for public procurements monitoring (DNCMP). Overall, 42 people are concerned by this call while 43 are for the second call.
This move aligns with the government’s decision to set aside 25% of public procurements to youth and women entrepreneurs as announced by President Gnassingbé in a recent speech to the parliament. This figure let’s recall was set at 20% last year.
Séna Akoda
Horticulture: A Togolese delegation is currently in China for the 2019 Beijing Expo
A Togolese delegation, including Kueku-Banka, Director General of the Togolese Center or Fairs and Exhibitions (CETEF), is currently in Beijing attending the 2019 Beijing International Horticultural Exhibition (Beijing Expo).
Placed under the theme “Live Green, Live Better,” the 2019 Beijing Expo will include many educative and interactive exhibitions as well as thousands of public activities and events, fora and cultural shows.
Started last week, the exhibition will last six months. It aims at revealing the importance of horticulture to improve life quality and preserve the future for coming generations.
Séna Akoda
Allianz-Togo is now owned by SUNU insurances
Allianz-Togo is now owned by SUNU Group. The shift does not only affect the Togolese subsidiary of the Allianz Group.
Indeed, the operation concerns the group’s subsidiaries in Benin, Burkina Faso (life, fire, accidents and risks insurances) and Mali.
According to the joint statement revealing the information, these units “are now part of the SUNU Group and will be renamed SUNU Insurance after necessary approvals are secured.”
“All commitments that Allianz has with its partners, customers, brokers and workers will be kept by the SUNU Group, so as to guarantee a service of optimal quality and one of the best insurance service in the market,” the statement reads.
“This operation aligns with Allianz Africa’s strategy to grow its footprint in high-growth countries while maintaining the profitability level expected by the group. SUNU Group is a valuable partner and a solid pan-African actor,” said Coenraad Vrolijk, regional managing director and member of Allianz Africa’s executive regional committee.
With Allianz-Togo’s takeover, SUNU Insurances has finalized the purchase of the majority of the stakes of former Banque Populaire pour l’Epargne et le Crédit (BPEC), a move it initiated some months ago to expand its network in Togo and the region.
Séna Akoda
58% of the Togolese population supports private media (Afrobaromètre)
More than half (58%) of the Togolese population supports private media while 38% (about two out of five of the surveyed) supports the government’s right to control communication. This is revealed by a recent survey on the development of freedoms in Africa carried out by Afrobaromètre.
Across the 34 surveyed countries, 43% of the population is ready to accept that government monitors media, for security purposes, whereas 53% of the surveyed defend rights to private communication.
Concerning freedom of religion, in Togo 51% of the population questioned by Afrobaromètre thinks the government should regulate religious speeches, while 45% believe in freedom of religion.
While it appears that Africa currently experiences hurdles opposing freedoms, Togo recently moved 10 places in the 2019 World Press Freedom Index released by Reporter Sans Frontière (RSF). The country, whose score rose by 0.54 points, was 76th on the index which ranked 180 countries.
Ayi Renaud Dossavi
Ecobank group records pre-tax profit of $103 million in Q1 2019
During the first quarter of 2019, Ecobank Transnational Incorporated recorded a pre-tax profit of $103 million, down 8% compared to the same period in 2018 (However, after readjusting with currency exchange, it rose 31% to $145 million).
Meanwhile interest earnings amounted to $172.3 million at 31 March 2019, thus slumping 31% compared to the same period last year ($248 million).
The lender’s Director General, Ade Ayeyemi, said at its 31st general assembly that the figures are satisfying especially given the actual difficult macroeconomic context, adding that Ecobank’s “diversified business model remains a major advantage”.
Ayi Renaud Dossavi
Togo’s trade balance degraded significantly in 2018
In 2018, Togo’s trade balance degraded significantly, in contrast with an improvement the year before. Accorfing to data from the BCEAO, the country’s trade deficit widened by nearly 70%, standing at XOF492 billion, due to a strong rise of goods imports, while exports were slower.
In detail, imports reached XOF1,213.19 billion (free on board value), thus up 25% compared to 2017. On the other side, exports grew 7% only standing at XOF637.4 billion. Thus, trade deficit was XOF576.4 billion and was eased by a surplus of XOF84.4 billion for services balance. The latter it should be noted has been recording a surplus since 2014, with the highest amounting to XOF84.7 billion in 2016.
Trade deficit recorded last year is the highest in Togo since 2014, after XOF543 billion recorded in 2015, amid commodities crisis. However, the figure is far above WAEMU’s which degraded by 17% in 2018.
Togo: National Social Security Fund extends e-payment to BTCI, after T-money and Flooz
In Togo, the national social security fund (CNSS) now allows employers to remotely pay their employees via an online platform of Banque Togolaise de Commerce et d’Industrie (BTCI).
“Using the internet, employers connect to the CNSS’ platform which is synchronized to the BTCI’s platform. There, they can carry out all declaration operations and make payments via the BTCI platform,” said Kadevi Akakpo, managing director of BTCI. “At this stage, a security code is provided for validation purpose,” he added.
And in the event it is the firm’s accountant who makes the payment, another code is provided to his or her superior for validation before payment is made, the lender’s MD said.
Germain Mèba, president of Togo’s chamber of commerce and industry, lauded this initiative to ease the declaration of employees and paying their dues remotely.
After the BTCI, the measure should extend to Union Togolaise de Banque (UTB), Orabank and Ecobank. The new reform adds to another, already operational, to pay social contributions online via mobile money (T-money, Flooz) and the CNSS’ platform.
Séna Akoda
CADERT conducts a workshop to teach young Togolese entrepreneurs about crowdfunding
In Togo, the autonomous center for capacity-building and studies to promote growth (CADERT) launched on May 2 a workshop on crowdfunding and networking regrouping twenty young entrepreneurs.
Organized in partnership with the national coalition for youth employment (CNEJ), the workshop aimed at teaching participants about alternative funding means and about best practices to harness those.
This is in a context where “many young people have issues securing financing, especially SMEs and startups,” said Julien Nze Biyoguet, expert in development economy at CADERT.
During the workshop, two main topics were debated. First is the need for participants to know themselves so as to better run businesses, and the second is about crowdfunding’s technical features.
Africa has more than 44 million formal SMEs, contributing 33% of GDP and 45% of jobs. Unfortunately, only 20% of these SMEs have access to bank loans and 30% have access to long-term financing.
Ayi Renaud Dossavi