Coastal degradation cost Togo $310 million in 2017. This was disclosed in a World Bank report on the hazard’s impacts in West Africa, especially in Benin, Côte d’Ivoire, Senegal and Togo.

In the report, three major factors were discussed: floods, coastal erosion, pollution (water and air) and waste management.

In detail, coastal erosion alone cost the country $213 million, thus 4.4% of its GDP in 2017. Togo, it should be emphasized has more people living near its coasts than any of the other countries surveyed.

As for flooding, Togo lost $10 million to the phenomenon in the year reviewed. This is against a total of $1.45 billion losses for the four countries.

Regarding losses related to pollution and waste, they amount to $87 million, respectively $59 million for the first (water and air) and $28 million for the second.

Let’s recall that in June 2018, the World Bank disbursed $210 million for the West Africa Coastal Areas Management Program (WACA), to help people living in coastal areas better cope with coastal erosion.

Countries benefiting from the WACA program include Benin, Côte d’Ivoire, Senegal, Sao Tomé and Principe, and Togo.

Ayi Renaud Dossavi

French group Africar, leading small car ads network in Africa revealed March 27 that it would launch in Togo Carasigbe.com, the first-ever online car dealing platform.

This website adds to about 20 others already operating across Africa. With it, both individuals and concessionaires will be able to “sell cars, bikes and trucks, more safely and rapidly.”

Carasigbe.com can be accessed on computers and smartphones.

By launching this platform, Africar joins Kobo360 and Gozem, two other foreign startups that recently started operating in Togo. The French firm is Emerging Classifieds Ventures, an Australian startup that specializes in car and property deals online. 

Octave A. Bruce

Ethiopian Airlines won the African Champion of the Year at the 2019 Africa CEO Forum in Kigali. This reflects a “vote of confidence” in the company, two weeks after it suffered the crash of one of its Boeing 737 max; an accident that killed 157 people.

The title rewards the airlines’ efforts in contributing to regional economic integration in Africa. Ethiopian airlines competed with other African giants like South African firm Engil Africa, the Azalaï Hotel group or Morocco’s Banque centrale populaire (BCP).

Let’s recall that Ethiopian Airlines is a partner and stakeholder of Lomé-based Asky Arlines which is a major airlines in West Africa, alongside Ecobank Transnational Incoporated (ETI).  

Ayi Renaud Dossavi

From April 11 to 19, 2019, an agricultural fair will be held at the Palais des Congrès of Kara. This, ahead of the 11th National Togolese Farmer Forum (FNPT).

During the fair, local agricultural products will be promoted, same for technological innovations, agro-industrial products, and many more.

The fair’s goal, according to the ministry of agriculture which is behind the initiative, is to “valorize agricultural potentialities, as well as local agricultural products in both the country and to international attendees.”

For this year’s edition of the FNPT, the theme is: “Agricultural transformation poles to valorize Togo’s potential: a new vision translated by the National Development Plan (PND 2018-2022).”

Séna Akoda

On March 25, 2019, a three-day workshop on social entrepreneurship was started at the University of Lomé. Initiated by the US embassy and the national coalition for youth employment (CNEJ). This workshop aims at helping young people build their ideas and turn these into products meeting international standards.

What distinguishes social entrepreneurship from traditional entrepreneurship is that the first integrates a social component, beyond personal interests.

The workshop will be led by Theresa Carrington, social entrepreneur, founder and CEO of Ten by Three, a firm that empowers rural communities through craftsmanship.

Let’s note that just before the training was opened, a memorandum of understanding was signed by the CNEJ and the US embassy. This agreement’s purpose is to establish a resource framework for social entrepreneurship, as well as ensure the organization of an annual conference on this topic.

Ayi Renaud Dossavi

On the sidelines of its fifth anniversary, the National Fund for Inclusive Finance unveiled new products it will be offering. These include a solution to directly refinancing beneficiaries reaching out to financial partners and another to help beneficiaries formalize (PAF).

The two products were launched in Kara last Saturday during a ceremony presided by Togo’s head of State, Faure Essozimna Gnassingbé.

The PAF finances equipment for craftsmanship and processing. It also aims at providing craftsmen their working capital. According to president Gnassingbé, the two new products are an appropriate answer to requests made by FNFI beneficiaries.

For Mazamaesso Assih, State Secretary in charge of inclusive finance, with these new products, beneficiaries will truly contribute to the growth of Togo’s GDP.

Let’s emphasize that two conventions were signed during the announcement. The first between Orabank and the FNFI and the second between Orabank and the FNFI’s partnering institutions.

Séna Akoda

Almost a million beneficiaries. That is the number of people that received BBOXX solar kits worldwide so far.

The British firm indeed declared: “To date, we have provided clean, cheap and reliable electricity to about a million people.” Africa is the greatest beneficiary since it has the highest demand for BBOXX’s products.

BBOXX on the continent operates in Rwanda (its largest market), Kenya, DRC, Pakistan, Nigeria, Cameroon, Angola, South Africa and Togo. In the latter, the group provides the kits under CIZO, a presidential initiative.

There, the kits, since March 2019 benefit from a monthly subsidy, via the CIZO check, an incentive to speed up household electrification, in rural areas especially.

Commenting on the decision, BBOXX’s CEO, Manssor Hamayun, said: “This is huge! Togo’s government is the first government around the world to have a plan to achieve universal electrification by recognizing subsidies’ major role.”  

Séna Akoda

In Togo, 85% of LLCs created in 2018 were under a private deed, meaning involving no notarial deed. This equals 2,200 companies over a total of 2,587, the rest having been established with a notarial deed.

This data comes from the Centre for Business Formalities (CFE) and reflects the multiple reforms initiated by the government in the recent years to improve business formalization.

More specifically, in 2014, an interministerial decree enabling the creation of LLCs without a notarial deed was adopted.

Moreover, it is now possible to create a business within seven hours (since last February) and registration applications are submitted at the CFE’s desk all working days, from 7:30 AM to 2PM.

Ayi Renaud Dossavi