Togo First
West Africa gas pipeline restarts operations after short pause
Gas exports from Nigeria to Benin, Togo, and Ghana have restarted. The news was announced by the West African Gas Pipeline Company (WAPCo) last week, the firm that runs the pipeline through which the gas is exported.
Operations at the facility had been halted for cleaning and inspection which were supposed to be completed at the end of March 2020. The works, completed earlier than expected, “will help us provide reliable and improved service to our customers in Ghana, Togo, and Benin, and back their efforts to foster better access to cheap, and reliable energy for economic growth,” says WAPCo.
During the inspection and cleaning of the 569km-long infrastructure, the WAPCo put in place an important database that will be analyzed in the coming months, in order to establish standards for improving the pipeline’s integrity and safety.
The pipeline’s shareholding includes Chevron (36.9%), the Nigerian National Petroleum Corporation or NNPC (24.9%), Shell (17.9%), Takoradi Power Company (16.3%), Société Togolaise de Gaz (2%) and BenGaz S.A. (2%).
UMOA-Securities: Togo raises more than XOF56 billion for its latest bond issuance
Togo raised on February 28, 2020, more than XOF56 billion for its fourth transaction (a fungible Treasury bond issuance) on the UMOA-Titres market this year.
Lomé will, however, retain only XOF27.5 billion while it initially sought 25 billion. Compared to the total amount mobilized, the operation’s coverage rate stands at 224%.
Bonds issued have a nominal value of XOF10,000 per unit. The corresponding annual rate is 6.4% and the bonds will mature over a five-year period, with date value set on March 2, 2020.
This issuance took place in a context where Faure Gnassingbé won the first round of the recent presidential elections (with 72% of the votes).
Séna Akoda
The positive shift in Togo’s business climate is attributable to Faure Gnassingbé - Michael Gerdts (German diplomat)
“For the second consecutive year, Togo is one of the 10 first economies to improve their business environment for a better economic integration with its international partners, according to the World Bank,” says Michael Gerdts, German diplomat, at the end of a meeting on European projections for Africa, regarding investment.
According to the diplomat, even if Europe suffers various factors like Brexit or the China-US trade war, it can still count on “new strategic opportunities, especially in Africa.”
Among others, he mentioned efforts recently made by Lomé to improve its business climate, referring to the country’s ranking in the latest Doing Business report.
“Togo has gained 40 ranks to reach 97th as a result of a battery of regulatory reforms. The positive shift is attributable to Togo’s actual President, Faure Gnassingbé, who was recently re-elected.” The leader, Gerdts stresses, “has played a major role in the transformation of Togo into a first-class business hub, not only in West Africa but in the world.” This, in addition to showing “he could handle serious internal crises.”
Coronavirus : A first case confirmed in Nigeria, first in West Africa and sub-Saharan Africa also
The infected is an Italian who returned to Lagos, where he works, three days ago. The Nigerian ministry of health has “confirmed a coronavirus case (Covid-19) in the State of Lagos” via Twitter. The case which was confirmed on February 27, 2020, is the first in Nigeria since the epidemic broke out.
However, “for now the patient’s state is stable and shows no grave symptoms,” officials indicate.
Nigeria is the third African country affected by the virus. The other two are Egypt and Algeria.
Though Nigeria closed its land borders with neighboring Benin and Niger, to tackle smuggling and preserve its economy, there is still movement between these countries. The country’s health authorities, therefore, call for more caution and vigilance.
Let’s recall that the virus, which is highly contagious and aggressive (with a reproductive rate ranging between 3 and 7) has infected more than 81,000 people worldwide so far. At the moment, major centers of infection are China, Iran, and Italy. Iran especially has a higher complication rate (far above the 3% average presently admitted, according to Chinese data).
In Togo, health authorities are on alert. The following numbers should be contacted to signal eventual cases: +228 22 22 20 73 / +228 91 67 42 42.
Also, an isolation centre has been set up at the airport of Lomé (AIGE), in addition to a 24-hour monitoring cell.
Ayi Renaud Dossavi
Women, business and law index: Togo is 63rd in the world and 7th in Africa
Togo is now the 63rd (out of 190) country on the World Bank’s women, business and law index. The latter measures the legal differences on access to economic opportunities between men and women in 190 economies. It is based on the eight following indicators: Mobility, workplace, pay, marriage, parenthood, entrepreneurship, assets, and pension.
The population surveyed answered questions such as Can a woman choose where to live in the same way as a man? Can a woman travel outside her home in the same way as a man? Can a woman apply for a passport in the same way as a man? Can a woman get a job in the same way as a man? Does the law prohibit discrimination in employment based on gender? Is there legislation on sexual harassment in employment? Does the law mandate equal remuneration for work of equal value?
With a score of 84.4 over 100, Togo is 7th in Africa on the ranking, behind Mauritius (1st in Africa and 34th worldwide with a score 91.9 pts), South Africa (88.1 pts), Zimbabwe, Cape Verde, Tanzania, and Namibia. In West Africa, Togo is the second-best in terms of equal access to opportunities for men and women, right after Cape Verde.
In the world, the first eight countries towering this ranking are Belgium, Canada, Denmark, France, Iceland, Latvia, Luxembourg, and Sweden. The last eight for their part are Muslim nations.
Séna Akoda
Lomé actively takes part in the 43rd regular session of the UN human rights council
At the beginning of this week, the 43rd regular session of the UN human rights council was opened in Geneva, by Antonio Guterres, secretary-general of the UN. Various topics covered at the meeting include improving, promoting and protecting human rights all over the world.
Togo is represented at the session by Yackoley Koko Johnson, the Togolese Ambassador Extraordinary and Plenipotentiary Permanent Representative to the UN. As one of the Council’s four Vice Presidents, the diplomat chaired last Monday at the three-day high-level segment meeting. This was in the presence of Nada Al-Nashif, Deputy High Commissioner for Human Rights, who will chair the whole regular session till it ends, on March 20.
The human rights council was established in 2006. The UN entity handles all matters related to human rights violations around the world.
Soybean: The Togolese Government seeks a private investor to join the shareholding of Huilerie de Sokodé
The government of Togo seeks to augment the capital of the “Huilerie de Sokodé,” which is a soy-based oil factory located in Kparataou, in the Tchaoudjo prefecture.
In detail, the firm’s capital will be increased to about XOF487 million, 30% of which the government seeks to raise from a local private investor. To this end, public authorities have launched a tender that closes on March 5, 2020. The selected partner can be a legal person, a bank, a lending institution, or an institutional finance investor. These include a professional private equity fund, a joint placement fund, a proximity investment fund or a venture capital firm.
The interests of the sought investor should not conflict with that of the oil factory and it should have the capacity to disburse XOF100 million in cash to join the facility’s shareholding.
Having a good knowledge of the agro-food or agro-industrial sector, selling or exporting agro-food products will be an asset also.
Séna Akoda
Togo plans to provide broadband internet to 90% of its population by 2022
In Togo, the government plans to achieve maximum internet coverage as quickly as possible. In that regard, it “will extend and improve the digital coverage of the territory,” revealed Cina Lawson, Togolese Minister of Posts, Digital Economy and Technological Innovation, in a recent release.
“Our target is that by 2022, 90% of the population will have access to broadband internet,” she added.
In preparation for the achievement of this goal, the responsible ministry sought the best points of passage that are most consistent with the existing infrastructure (railway network, the network of ISPs and telecom operators in the country, E-Gov) and with users’ needs.
For the government, the challenge of developing very high-speed communications networks has become central. Indeed, "many areas, including trade, health, administration, and culture highly depend on digital technology,” the ministerial department informs.
Over the last three years, the Internet penetration rate has tripled from 7% in 2016 to 21% in 2019 to reach 1.71 million users, according to available data.
Ginger and pepper sectors : A XOF13.5 bln processing plant to be completed by 2022
In Togo, the foundation stone of a ginger and pepper processing plant was recently laid in Gbadi-Nkougna, the Plateaux region.
Planned to be completed by 2022, the project is led by Boss Approche Agricole, which partnered with German and Canadian companies.
Its minimum yearly processing capacity is 200,000 tons of ginger.
The plant, a XOF13.5 billion investment, will boost farmers’ yield and create several direct and indirect jobs, according to Agence Togolaise de Presse (ATOP).
According to Koudjo Bossiadé, MD of Boss Approche Agricole, spurred by the plant, the ginger sector will create 4,000 agricultural jobs. The sector will also create 1,000 labour jobs (collection, storage, processing, and marketing).
Séna Akoda
Togo : Outputs of cash crops rose significantly in 2010-2018
Between 2010 and 2018, Togo’s cotton output rose from 27,000 tons to 137,255 tons. This is due to the restructuring of the sector following the creation of Nouvelle société cotonnière du Togo (NSCT), and the establishment of a national federation of cotton farmers.
While cotton greatly boosted the Togolese economy over the period reviewed, it is not the only cash crop to have played this role. Indeed, official data indicates that outputs of coffee and cocoa increased by 72% and 107%, respectively, between 2012 and 2018. In detail, the country produced 19,076 tons of coffee in 2018, against 10,843 tons in 2012. As for cocoa, in 2018, it was estimated at 12,674 tons (against 6,126 tons in 2012).
These results were registered in a context where the country’s agricultural sector recorded an average growth of 6% per year in 2010-2018, with a peak of 14.32% in 2014.
Though it welcomes these performances, public authorities now want to boost access to financing for local agricultural actors (through initiatives such as the MIFA), and invest more in processing.