Togo First
Internet: Teolis launches “Dream”, a broadband offer for homes and small enterprises
Ten months after starting activities in Togo, Teolis, the internet service provider, officially launched last Thursday its “Dream” offer in Lomé, the capital.
Launched earlier than announced, the new offer is dedicated mainly to households, startups and SMEs. It aims to provide access to broadband in line with the budget and demand of customers.
In detail, the ISP’s dream offer is divided into the Dream Basic module for homes or individuals, and the Dream Privilege module for SMEs and very small enterprises, “based on criteria like the number of users and required capacity”.
For the moment, the new offer is available only in Lomé and its surroundings. It costs CFA20000 per month (for 4Mb).
Teolis is Togo’s third internet service provider. Other ISPs are Togo Telecom and the Vivendi group.
Octave A. Bruce
CEET launches national tender to rehabilitate Kpimé’s hydropower plant
Using its own funds, Togo’s power utility, Compagnie Energie Electrique du Togo (CEET), will rehabilitate Kpimé’s hydropower plant. This infrastructure has an installed capacity of 1.6MW which is 1% of the country’s demand.
A national tender was launched to recruit a firm to carry out the works. Firms applying must have carried out a similar task, both in size and complexity, in the past five years.
According to the CEET, firms with access to public procurements that have an execution rate of less than 70% cannot participate in the tender.
In addition to the Kpimé dam, the government plans to develop, under its national development plan (PND), an energy program that will help “tap into the country’s hydropower potential through the construction of the dams of Tététou (50MW), Danyi-Konda (10 MW), Baghan (6 MW), Landa-Pozanda (4 MW)”.
According to the authorities, focusing on developing renewable energies should enable access to more reliable and affordable power services.
Regarding the current tender, deadline for the submission of applications is January 31, 2019.
Fiacre E. Kakpo
Togo and four other African countries join Asian Infrastructure Investment Bank
Togo is now a member of the Asian Infrastructure Investment Bank (AIIB), a multilateral institution created in 2015 by China. On the same date, Algeria, Ghana, Lybia, Morocco and Serbia also became members of the institution.
Approving these countries’ adhesion aligns with a decision taken by the bank’s board of governors to reduce the significant western authority on the governance of existing multilateral lenders, namely the World Bank and IMF.
As a result, Washington and Tokyo are somehow wary of the institution. Indeed, they suspect that China wants to use it to serve its geopolitical interests. China holds 30% of the AIIB’s capital and 26% of voting rights.
By joining the Asian investment institution, Togo wants to take advantage of the best conditions possible to finance its infrastructure projects.
Counting the new members, the AIIB now has 93 members. Within three years only, 36 States joined the institution, adding to the 57 founding members. “This shows our members’ commitment for multilateral cooperation and it reinforces the AIIB’s role across the international financial community,” said AIIB’s vice president and secretary general, Danny Alexander.
Séna Akoda
Togo : Contour Global now uses only natural gas for its operations
In Togo, Contour Global’s power plant now runs only on natural gas. This was recently disclosed by the country’s power utility, Compagnie Energie Electrique du Togo (CEET).
This happens a few weeks after the firm switched to gas to fuel half of its operations.
Now, the full switch will help optimize CEET’s energy mix and gradually invert the back-up regime to a continuous one.
Also, it should significantly reduce greenhouse gas effects and Togo’s dependency on power import. CEET is still looking for ways to fuel its engines with natural gas.
Séna Akoda
ECOWAS growth forecast for 2018 reduced to 3%, from 3.2% initially
Growth rate across the Economic Community of West African States (ECOWAS) should stand at 3% this year, a slight reduction compared to an initial forecast of 3.2%. This was announced during the ECOWAS’ 54th ordinary session last Saturday.
While lower than the figure announced at the 53rd session, the current forecast still exceeds those of 2017 (2.3%) and 2016 (0.2%).
The rise, according to the ECOWAS, is due to a rapid growth in many countries and especially to the consolidation of Nigeria’s economy. Regarding the latter, by the end of this year, it should grow by 2%.
Looking into Togo’s case, over the past three quarters, its growth rate was on the rise, going from 4.5% in the first quarter, to 4.7% in the second and 5% in the third. For the year, average growth is expected to stand at 4.9%.
The ECOWAS has urged the States to “pursue efforts to diversify their economies and implement specific policies to boost sectors that have a great impact on their growth”.
Ahlonko Octave BRUCE
BIDC approves financing of a new rural electrification project in Togo
On the sideline of its 60th board meeting, the ECOWAS investment and development bank (BIDC) has approved a $13 million financing for a Togolese power project.
While no other detail was disclosed about the project, based on information released after the bank’s 59th board meeting last October 25 it may be a rural development project.
For Togo, this project will be another step towards achieving its 2030 “universal power access” goal.
Besides approving projects during its latest board meeting, the BIDC reviewed its activity in 2018. In detail, this year, the lender approved 13 projects, 12 of which were successfully executed. The latter were implemented in the health, water and telecommunication sectors.
Next year, the BIDC intends to diversify its shareholding and raise more funds to expand its footprint across the region.
Séna Akoda / Rénaud Dossavi
This is how the CRRH-UEMOA distributes its resources to its member-States
The WAEMU regional fund for mortgage refinancing (CRRH-UEMOA), in the framework of its support to housing, allocates 11% of the resources it raises on the regional financial market to Togo. This is three times more than what it allocates to Benin and Burkina Faso (4%).
However, this is a little lower than what Senegal perceives (12%) while Niger, Mali and Côte d’Ivoire respectively get 25% and 26%.
In terms of concessional loans, the financial institution allocates 12.7% of its resources to Togo, around three times what it allocates to Benin (3.81%). In this category, Senegal, Côte d’Ivoire, Mali and Niger get respectively 15.5%, 17.99%, 23.87% and 26.13%. Only Burkina Faso so far does not get these loans which support housing across the WAEMU.
Séna Akoda
This year, BOAD carried out 39 operations valued at CFA414 billion
This year, the West African Development Bank (BOAD) approved 39 financing operations worth CFA414.5 billion for the public and private sectors.
This was disclosed on December 11, after the bank’s 111th board meeting. On this occasion, three new projects valued at CFA15.21 billion were approved.
The three commitments include partial financing for the extension of Bobo-Dioulasso dry port in Burkina Faso, with 3.7 billion, a 6.5 billion subordinated loan granted to NSIA Bank Benin (formerly Diamond Bank), and second refinancing line of 5 billion for BSIC Mali.
With these operations, the bank has carried out a total of 1,141 operations, valued at CFA5,308.71 billion, since its establishment.
Fiacre E. kakpo
Togo : Artisans to benefit from a CFA400 million loan facility
In Togo, the national agency promoting the guaranteeing and financing (ANPGF) of SMEs/SMIs signed last Dec 19, a CFA400 million financial agreement with the Artisans Savings and Loans Cooperative (CECA).
In effect, the agreement will lead to the creation of a microfinance credit line for artisans in need. It is the fourth of its kind between the two institutions.
When they initially entered into their partnership in 2013, the ANPGF provided CECA 150 million CFA. In September 2015, this figure rose to CFA200 million, then 300 million later on. Overall, CFA650 million helped 300 artisans finance their activities. Among these artisans, there is Logou Minsob, creator of Foufoumix, a yam-pounding machine.
The recent agreement increases to CFA30 million the cap for loans provided by microfinance. This is twice more than the sum of loans granted to SMEs and SMIs.
Naka Gnassingbé-De Souza (photo), Managing Director of the ANPGF said the institution’s purpose is to help SMEs and SMIs access bank loans. It also provides financial services and garantees and helps businesses boost their capacities.
Séna Akoda
Ethiopian Airlines now connects Lomé to Los Angeles, via its partner Asky Airlines
On December 17, 2018, Ethiopian Airlines commissioned a direct liaison between Lomé and Los Angeles, US. This new line is the second direct line connecting Togo to the USA.
According to reliable sources, Asky Airlines, Ethiopian Airlines’ partner, will serve the destination on Mondays, Wednesdays and Fridays following the Addis Ababa-Lomé-Los Angeles route.
With this new line, Ethiopian airlines will now provide seven flights on weekly-basis, against four currently.
“With Los Angeles included, Togo is now connected to two US destinations. Ethiopian Airlines already offers a Lomé-New York flight on Mondays, Wednesdays, Fridays and Saturdays,” newsaero indicates.
“The launch of a direct service between Lomé and Los Angeles is a major step in our efforts to connect Los Angeles to the world and the world to Los Angeles,” declared Herb Wesson, president of the Los Angeles city council.
Séna Akoda