Gozem plans to expand to a new town in Togo, two years after starting operations in Lomé. In this framework, the startup is conducting surveys on social networks to find out the opinion of its clients. 

The firm, already present in Benin and Gabon, also eyes the following markets in the next two years: Nigeria, Ghana, Senegal, Côte d’Ivoire, Burkina Faso, Cameroon, DRC and Rwanda. 

Last year, in November, Gozem reported that its app had been downloaded more than 250,000 times. 

Séna Akoda

In the wake of the government’s Covid-19 response, it has been decided that markets in the Golfe and Agoè-Nyyivé prefectures shall now open at 8 AM and close at 4 PM. 

The decision announced on April 20, 2020, by the ministry for territorial administration, aims to make sure that populations adapt to the curfew imposed (8 PM) and conform to the national health emergency. 

Markets are major places of exchange and gathering. As such, they are significant zones for potential transmission. 

To date, Togo has officially reported 84 confirmed Covid-19 cases, including 25 active, 53 who recovered and six deaths. 

Ayi Renaud Dossavi

Fake news being spread online states that some “banknotes of XOF10,000 and XOF5,000 with false serial numbers” are circulating in the West African monetary union. The news which supposedly originates from the Central Bank of West Africa (BCEAO) which prints the notes urges people in the region to no more accept the notes (bearing the A, N, S, and T serial numbers). 

The information was denied by the BCEAO which added that reliable information can be found on its official website. 

For those behind the scam, the BCEAO says it will bring them to justice as their actions hurt the trust of the populations as well as the currency which is used across the West African monetary union. 

Ayi Renaud Dossavi

Togo’s minister of economy and finance, Sani Yaya, is the new head of the council of governors of the ECOWAS investment and development bank (BIDC). 

He was appointed during the 18th ordinary session of the bank which was recently held in Lomé. The Togolese official replaces Jacob Jusu Saffa, Sierra Leone’s minister of finance. 

According to the director of BIDC, George Agyekum Donkor, “M. Yaya embodies diligence and polyvalence” which are “qualities that will add value to our institution.” 

Yaya, besides being the minister of Finance of Togo, was the chief of audit at Ecobank Transnational Inc. (ETI), chief operating officer at NSIA and worked at the BCEAO for nearly six years (...)

Junior ATIGLO-GBENOU

Starting today, it is compulsory for all medical personnel in Togo to wear face masks, according to a recently released official statement.

The measure was taken a few days after some health workers at the Sylvanus Olympio teaching hospital came in contact with two Covid-19-infected individuals (the patients were diagnosed late and unfortunately died). After the incident, many members of the staff of the pneumology ward were quarantined. 

In addition to imposing the wearing of face masks for health workers, the official statement recommends it to civilians as well. 

To date, Togo has reported 84 cases of Covid-19; 52 have recovered, 27 still active, and five deaths. 

Ayi Renaud Dossavi

Only two weeks into commencement and more than XOF2.5 billion cash has been distributed to Togolese citizens most affected by Lomé’s Covid-19 response. 

A total of 462,000 people received the money to cope with the situation. In detail, 300,998 women received more than XOF1.8 billion while men obtained about XOF845 million. 

Let it be recalled that women, under the scheme, get XOF6,125 each while every eligible man gets XOF5,252. This is half of the sum they must receive monthly during the crisis.

Séna Akoda

Despite the current health crisis, Togo raised last Friday XOF22 billion on the regional financial market.

In effect, Lomé which was seeking XOF20 billion through the issuance (of short-term fungible treasury bonds) mobilized a total of XOF29 billion (thus representing a subscription rate of 147%). 

This is a new breath of air for the country which currently battles against the Covid-19 pandemic. Regarding the latter, so far, the only international partners to have provided financial support to Togo are the World Bank and the IMF. The first disbursed XOF7 billion to help the country fight the virus while the second disbursed XOF58 billion in addition to approving the provision of the last tranche of Togo’s 3-year ECF arrangement. 

On March 13, Togo mobilized XOF55 billion on the regional market. At the same time, it had just reported its first Coronavirus case. 

Fiacre E. Kakpo

Already scaled down a few weeks ago to 3% (from 5.5%), the growth forecast for the Togolese economy this year has been further reduced to 1%. This is as sub-Saharan Africa braces for its first recession in 25 years. 

This is bad news for the national development plan which was set to take off a little after the presidential elections. However, the tides could turn next year in the event the coronavirus pandemic ends soon. Still, Togo -being a leading business center and logistics hub- is highly exposed to external shocks. 

Given its strong trade ties with China and Europe, its weak health system, and dependency on tourism, Togo, the IMF foresees, will greatly suffer from the Coronavirus pandemic. 

Indeed, in its latest update of growth forecasts for sub-Saharan Africa, the IMF said Togo’s budgetary balance, which was in surplus at end-2019, should widen to 4.1% while the rate of inflation should grow to 2%, against 0.7% in 2019. 

According to the institution’s resident representative, Sampawendé Jules Tapsoba, who presented the document on April 17, the effects of the crisis can already be felt in the retail and leisure industries. Between January and February 2020, way before Togo reported its first Covid-19 case, traffic in retail stores, markets and recreational areas had fallen by one-third.

Fiacre E. Kakpo

Beyond Productions will be in charge of all communications relative to the Economic Governance Support Project in Togo (PAGE). 

This was announced by the related award notice released by the ministry of economy and finance. 

Under the contract, the communication agency will boost the visibility of the PAGE, both at the national and international levels, the project’s objectives, progress made, challenges it faces, etc. Before that, the firm will, however, put in place a communication strategy and a communication plan. 

Beyond Productions has become famous for producing the Big Stories TV magazine which features people who contribute to the advancement of their communities. It was picked out of seven firms running for the contract. Hermès Communication and Intelligence Group were the two other firms that were close to winning the contract. 

Séna Akoda