In Togo, the legal rate of interest applied in 2019 was kept at 4.5%. This was announced by the government following the council of ministers held in Tabligbo, in the Yoto prefecture, about 90km from Lomé.

The rate which stood at 3.5437% in 2017, was increased to 4.5% in 2018.

Implemented within the WAEMU to help calculate, in the absence of special stipulations, damages and interests owed by a lender who failed to pay a debt on time, the legal rate of interest in Togo is set by the government for a given calendar year.

Fiacre E. Kakpo

Many tenders will be launched by the agency for the promotion and development of agropoles in Togo (APRODAT), in line with the beginning of operational phase of the Togo Agricultural Transformation Project (PTA-TOGO).

The tenders will cover purchases of goods (lab and agricultural equipment; office furniture; softwares and IT equipment; an accounting and finance management system), works (developing the agro-park, building two water processing and treatment plants; building 10 agricultural transformation centres and a dam) and consultancy services provision related to PTA-TOGO.

Bidding documents should be available starting this month.

Ayi Renaud Dossavi

Last Tuesday, a technical committee was put in place to improve the functioning of civil State in Togo.

In effect, the objective is to tackle challenges related to “staff, efficiency, and equipment”, says Douti Lardja, head of the newly formed committee. Hence, an initial assessment was carried out to “identify what could be done to make civil State more efficient and effective”.  

Subsequently, some of the solutions that emerged included increasing staff and reinforcing capacities.

The civil state is one of the government’s major concerns, both in regards to planning and as a tool that will improve the reliability of electoral register, said Payadowa Boukpessi, minister of territorial administration, while talking to members of the committee.

Ayi Renaud Dossavi

Last Tuesday, local economic actors were introduced to the latest updates of FORSETI, the software handling online procedures related to commercial conflicts in Togo. This was during a meeting held in the framework of the project to reinforce the commercial chambers of the lower and appeal courts of Lomé.

“For a long time, only judges and clerks used the platform”, says Kouami Gaméli Lodonou, head of mission of the project. Now, lawyers can “refer to commercial courts, pay online, and track their cases”, using the software. This significantly saves time for court officers and their clients.

The recent meeting, let’s indicate, aimed also to make reforms implemented in Togo to improve its business climate known to taxpayers.

Also, last month, the FORSETI’s innovations were presented to court officers, during a meeting launched by the National Program for Justice Modernization (PNMJ) and the Business Climate Cell.

Ayi Renaud Dossavi

With a score of 2.8 over 5, same as Tunisia, Togo’s business climate is getting more attractive according to the 2019 Annual Rankings of the French Investors Council in Africa (CIAN).

The country owes this performance to its modernized port and air networks, its position of trade hub, tax incentives, security level, and right to employment, among others. Due to these advantages many multinationals have decided to settle in Togo.

65% of heads of firms questionned in the framework of the rankings’ elaboration expect their turnover in Togo to rise this year. In 2018, this figure stood at 44%. Meanwhile, 22% of the firms expect no change in their turnover and 11% expect it to decrease.

Commenting on the positive expectations of most chiefs of multinationals present in Togo, Sandra Johnson, Advisor to the President, and Head of Togo’s Business Climate Cell, declared: “This assessment confirms the good performance of Togo in the 2019 Doing Business”.  

In 2018, let’s recall, intentions to invest had slumped by 11%, due to concerns spurred by sociopolitical protests. This year however, the country should attract more investments according to CIAN’s barometer.

In detail, 34% of firms surveyed say they are ready to increase their investment in Togo, whereas 44% of the surveyed plan on maintaining their current investment expenses at the same level as in 2018. The remaining 22% for their part intend to invest less in the country.

The CIAN survey was carried out between June and September 2018, taking as sample population 1244 heads of companies.

Fiacre E. Kakpo

The government wants to build in Cinkassé, near the border with Burkina Faso, a dry port.

The infrastructure which will develop under a public-private partnership will cover 100 ha and help reinforce transport between the port of Lomé and Cinkassé.

The dry port project is steered by Togo Invest. It will have customs facilities where goods from Burkina Faso, Ghana and Niger will be processed. In addition, there will be warehouses to ensure freight de-containerization and distribution; a single desk and offices in charge of logistics procedures and processes. Also planned are modern facilities and equipment for cargo transfers between trucks.

According to studies, the flow of goods to the hinterland should stand at 10,230,000 tons per year by 2040, against 3,786,000 tons in 2015.

Fiacre E. Kakpo

In Togo, Gozem users will have access to taxis (cars), in addition to zemidjans (local taxi-bikes).

“Gozem is glad to add this new string to its bow, in the framework of its expansion in Lomé, while offering an innovation service, one of quality with a mile-based fee”, said Gozem CEO, Emeka Ajene.

Concerning security issues, Gozem assured that “before partnering with Gozem, all drivers are trained on the highway-code and on how to provide a service of quality to the app’s users. Both our vehicles and drivers are insured by Ogar Assurances and Togo Assistance”.

Only two months after starting operations in Togo, the Gozem app has already been downloaded more than 50,000 times on the Play store and the App store. This year, the startup plans to expand its activities to Benin, Cameroon, Burkina Faso and Mali.

Fiacre E. Kakpo

The Self-Help Program of the US embassy in Togo is making new beneficiaries at the beginning of February. The scheme is granting a total of XOF11 million to support about 10 small community projects in the country.

Self-Help is a community assistance program, launched in 1964, which aims to finance micro-development projects of local communities. The main selection criterion is self-handling. Indeed, once a project carrier benefits from the program, they become self-sufficient.

Particular focus is on projects with the potential to generate income, create employment and produce marketable skills (sewing, livestock breeding, etc.). The maximum amount awarded for each project is $5,000.

Ayi Renaud Dossavi