Togo’s national order of auditors and chartered accountants (ONECCA-Togo) revealed that some people have been pretending to be accountants and auditors in the country. 

In Lomé, posters pasted at various junctions advertise the provision of financial statements. These posters, however, make no mention of the people providing the services; only the phone numbers are indicated. 

“Under law n°2001-001 of January 2001, only members of the Order (ONECA) can legally operate as accountants, and provide among others financial statements,” the Order reminds. 

Any person found to have infringed this law could spend from six months to two years in prison in addition to paying a fine ranging between one million and 10 million CFA. 

Séna Akoda

As the coronavirus keeps spreading, the World Bank and the IMF have asked all bilateral lenders of IDA countries to suspend the payment of their debt if these countries request so. 

This was declared in a G20 summit meeting (videoconference) held on March 26, 2020. “We invite G20 leaders to task the WBG and the IMF to make these assessments, including identifying the countries with unsustainable debt situations, and to prepare a proposal for comprehensive action by official bilateral creditors to address both the financing and debt relief needs of IDA countries,” the statement from the Bretton Woods institutions indicate. 

The measure, according to the institutions, “will help with IDA countries’ immediate liquidity needs to tackle challenges posed by the coronavirus outbreak and allow time for an assessment of the crisis impact and financing needs for each country.” 

Also, the call to action would send a strong signal to financial markets and the international community, as the world is experiencing one of its darkest times.

The Arab Bank for economic development in Africa (BADEA) will grant $100 million to 44 African countries. The funds which are to be given on a need basis should help the nations fight the coronavirus pandemic. 

The approach is a new one for the institution that usually invests in structuring infrastructure, health, education and energy projects. BADEA said it has a new strategy that aligns with the “2030 development goals” of the beneficiaries as well as with the African Union’s 2063 agenda. 

Let’s note that recently, the BOAD announced it would provide each WAEMU State XOF15 billion, to also help these countries fight the deadly disease. 

It should be noted that two days ago, Togo received part of the equipment promised by Chinese billionaire Jack Ma to help African countries face the pandemic.

As talks about the efficiency of the drug keep rising around the world, Togo has also decided to give it a try. 

However, “chloroquine will not be sold freely,” said Dr. Innocent Kpeto, president of Togo’s order of pharmacists. This is to prevent the population from using this medicine without respecting the correct dosage or buying a fake product. 

Chloroquine is a drug developed in the 1950s to fight malaria. It has been in Africa for decades but was later taken out of the market as it became inefficient in treating the disease. 

In effect, it is a derivative of the drug, hydroxychloroquine, that is said to have shown some encouraging results in combating the coronavirus. Initial works were done by the French physician, Didier Raoult. After tests were conducted by Chinese researchers first, Europe and the US are now following their footsteps.  

Ayi Renaud Dossavi

Banque Ouest Africaine de Développement (BOAD) will allocate each WAEMU member State XOF15 billion to fight the coronavirus. The information was disclosed in a statement issued by the institution on March 25, 2020. 

In all, the States will thus receive XOF120 billion. Also, debt payments will be suspended. 

Last week, the Central Bank of West African States (BCEAO) announced a battery of measures to ease the health crisis that currently hit the WAEMU region. Moreover, it has put in place a XOF25 billion loan enhancement fund enabling “the provision of subsidy interests and boosting the size of concessional loans that it will grant to the States for urgent investments and purchasing equipment to fight the global pandemic.”

Togo’s food security agency (ANSAT) has started grain sales across the country. 

Prices of products sold by the agency are set as follows: 50kg bag of maize (XOF9,500 ), 50kg bag of Sorghum (XOF10,500), 50kg bag of Millet (XOF11,000 ), 25kg bag of long-grain local rice (XOF13,000), 25kg bag of broken local rice (XOF10,000), 25kg of local couscous (XOF7,500), 1kg sachet of maize flour (XOF300).

Let’s note that recently, the government has taken measures to prevent speculation and price increase, as people rush to markets amid rising concerns regarding the coronavirus outbreak in the country. 

Opening hours of ANSAT offices: 

8:00 AM-12:30 PM and 2:30 PM-4:00 PM (Monday to Friday)

8:00AM to 11:00AM (Saturday)

Ayi Renaud Dossavi

In Togo, the public contracts regulatory authority (ARMP) is looking for a consultant to help it perfect its digital communication strategy. To this end, the public body has launched a call for manifestation of interests that will close on April 21, 2020. 

The selected consultant will among others assess the level of assimilation of good practices allowed relative to public contract management, recommend ways to improve communication tools, digital mainly, used by the ARMP. 

Besides these, the expert will produce a 3-year roadmap for the regulator’s communication strategy, and provide measurable indicators to assess and follow up on the implementation of this roadmap. 

Séna Akoda

The government has suspended, indefinitely, all recruitment processes in the public administration due to concerns about the hike of coronavirus cases in the country. This was disclosed yesterday by the ministry of public works. 

Periods for submission of applications are postponed and information relative to the new dates will be given later, reads the related statement. Submissions should have normally taken place in March-April. 

The process was to allow the State to recruit 700 agents in the ministry of finance, and more than 2,000 agents in the ministry of health, education, and environment. 

So far, 18 people have tested positive for coronavirus, with only one recovered.