Togo First
Togo: Pump prices for oil products slightly on the rise
In Togo, fuel prices at pumps have slightly risen in the wake of rising prices of oil barrels on the eve of a crucial OPEC meeting in Bakou, Azerbaïdjan.
On average, these pump prices rose by 2-3% (15 to 18 CFA Francs).
As of today March 19, 2019, the price of super unleaded rose by 16 FCFA to be 564 FCFA. Kerosene is now 505 FCFA and the two-stroke oil mixture is 661 FCFA. For gasoline, it costs 567 FCFA.
Providers of Sustainable Development Innovative Solutions invited to take part in the Zayed Sustainability Prize 2020
Providers of innovative solutions for sustainable development are invited to apply for the Zayed Sustainability Prize edition 2020. This competition, designed to reward innovative achievements for sustainable development, comprises five categories which are Health, Food, Energy, Water and Global High Schools.
Applications are open until May 30, 2019. According to the United Nations reports on Zayed Sustainability Prize, the African continent has the highest growth rate of women-owned businesses. And the organizing committee is encouraging them to apply and hopes they win this award, which could accelerate the implementation of their projects.
To date, 76 winners have been awarded the prize, the committee said. This had a positive impact, directly and indirectly, on the lives of more than 318 million people worldwide.
The Zayed Sustainability Prize is a tribute from Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to his deceased father, Sheikh Zayed bin Sultan Al Nahyan and his legacy for sustainable development.
Séna Akoda
Togo: Companies can now be created within 7 hours
In Togo, it is now possible to create a company within seven hours. This was revealed by Samuel Sanwogou, director of the business start-up centre (Centre des formalités des Entreprises-CFE), last Friday at the exchange workshop organized by the business council (Cellule Climat des affaires-CCA) to present the new reforms initiated this year.
According to the official, since February 28, 2019, company creators could submit their files for company creation between 7 :30 AM and 2 PM and retrieve their business creation cards between 2 :30 PM and 6 PM.
Samuel Sanwogou also announced a partial dematerialisation of the process. Consequently, the company creator can submit the company creation request online and pay the application fees via Flooz and T-money.
Let’s note that last year, the reduction of the company creation time to 24 hours, combined with the simplification of the procedures allowed for the creation of 10,545 new entities; a 27.5% rise compared to the number of companies created in 2017. It also helped Togo gain 19 places in the Doing Business 2019 to be the world’s 137th.
Authorities want to take it to the Top100 in the Doing Business 2020.
Togo : Project to digitalize land titles completed
In Togo, almost all land titles have been digitalized, with only one percent left. The remaining titles are those that date back to German colonization which are yet to be found. This was revealed in the latest report on progress made with structural reforms agreed with IMF, under its extended credit facility (ECF).
At the end of 2018, 95% of the titles had been digitalized (43,880 titles out of 46,183).
This project is part of many to improve Togo’s land sector. Related works include attending to 500 cases, mostly land-related, pending at the Supreme Court ; new laws regulating transfers of land to foreigners ; or the recently introduced measures forcing those owning private agricultural lands in rural areas to valorize them, in order to avoid speculation.
Ayi Renaud Dossavi
After Ecobank and UTB, BTCI will also start offering tax e-payment services, under a partnership with OTR
Banque togolaise pour le commerce et l'industrie (BTCI) will also soon start offering services to enable taxpayers pay their taxes and duties online. The Togolese Revenue Office made the announcement this Friday, during talks on reforms initiated to improve the local business climate.
The bank will thus become OTR’s third partner in this regard, after Ecobank and more recently Union Togolaise de Banque (UTB).
The good news aligns with various steps taken by the OTR in the past months to dematerialize its processes, in order to improve business climate and ease collaboration with business owners.
Ayi Renaud Dossavi
Togo exported 30,265 tons of fruits and vegetables in 2017
In 2017, Togo exported 30,265 tons of fruits and vegetables, according to the national institute of statistics, economic and demographic studies (INSEED). This volume was valued at CFA4.5 billion.
Over the same period, the country imported 8,385 tons of fruits and vegetables, valued at 1.5 billion CFA.
To date, Togo produces 60,000 tons of fruits and 40,000 tons of vegetables every year. These volumes meet only a quarter of local demand; that is if Togo consumed the products in line with standards.
Ayi Renaud Dossavi
Bilateral cooperation : Germany grants €66.5 million to Togo
Germany recently decided to provide Togo €66.5 million, under their bilateral cooperation.
“Germany is ready to inject an additional €66.5 million to support the Togo-Germany cooperation,” said Brigitte Pickel, head of a German delegation which came to Togo at the beginning of the week to discuss furthering cooperation between the two countries.
Parts of the funds will be used in sectors like sustainable economic development, professional training and agriculture. Another part will be used to improve governance, decentralization, health and energy.
All these areas are key to the national development plan, according to the minister of cooperation, Demba Tignokpa, at the start of the talks with the German delegation.
Ayi Renaud Dossavi
Togo inks deals with Emirati firms Al Dahra Holding and AMEA Power
On the second day of President Gnassingbé’s trip in the United Arab Emirates, two major Emirati groups committed to invest in Togo’s agriculture and energy sectors respectively.
On March 12, Faure Gnassingbé met with the vice president and co-founder of Al Dahra Holding to talk about Togo’s goals in the agro-food industry. On that occasion, Al Dahra’s co-founder declared : “I discussed with the President, mainly about opportunities that Togo has to offer in terms of agriculture and agricultural outputs. We invest in farms and large plantations that span 200 hectares and above.”
AMEA Power commits to buid a 30MW solar power station
Under Togo’s new electrification plan, Togo will build four solar plants by 2025. The first of these facilities will cost $40 million and is already partially financed ($15 million).
During President Gnassingbé’s visit, Togo and AMEA Power inked a memorandum of understanding (MoU) to speed the construction of this first facility.
According to the Togolese Presidency, “with this MoU, this project is becoming a reality. The operator will take the necessary steps to get the rest of the funds needed and quickly complete it.” The agreement was signed by Togo’s minister of mining and energy, Marc Ably-Bidamon Dèdèriwè.
Séna Akoda
After Ecobank, UTB partners with OTR for its e-payment solution
Togo’s revenue office (OTR) signed last Tuesday a deal with Union Togolaise de Banque (UTB) to simplify and ease online payment of taxes and duties.
With this, UTB becomes the second bank to partner with OTR in the framework of e-payment’s implementation. The first bank was Ecobank transnational incorporated (ETI).
For the OTR, this partnership falls in line with its strategy to dematerialize fiscal operations. Indeed, by enabling taxpayers pay their dues online, the institution wants to save time for all involved parties.
The recent partnership should be extended to more banks in Togo.
Ayi Renaud Dossavi
PND 2018-2022: A delegation of Abu Dhabi Fund to soon visit Lomé
A delegation of the Abu Dhabi Fund should soon visit Lomé, according to the communication division of the Togolese presidency.
This visit falls under the fund’s desire to support Togo’s 2018-2022 national development plan (PND 2018-2022). It was decided during talks between President Gnassingbé and Mohamed Saïf Al Suwaidi, director of the Abu Dhabi Fund.
The talks concerned improving cooperation between Togo and the Fund, in the sectors of infrastructures and energy.
Still seeking support for the PND, the Togolese President who is currently in the United Arab Emirates met the Prince of Abu Dhabi, on March 11.
As for the Abu Dhabi Fund, let’s note, it provided a $15 million loan for the construction of a 30MW solar power plant. It also partially finances the Sokodé-Bassar road.
Séna Akoda