Togo will intensify reforms to further boost its economy. The ambition was reiterated by Sandra Ablamba Johnson, minister delegate and advisor of the President, for business climate - in an interview with the local bi-monthly newspaper Imagine Demain which released its latest issue on Thursday, January 16.  

On the occasion, the official also cited the national development plan, reforms that were undertaken in the past few years, as well as the many initiatives launched by the country to attract more investors (forums, roadshows, adhesion to international development institutions). Togo, she recalled, gained 59 ranks on the Doing Business Index in the past two years.  

“The PND just closed its first year of implementation and over the first months, we focused on institutional issues and on creating projects to attract more partners or investors,” Johnson added. Among ongoing projects, she said, is the Kekeli Efficient Power project, the Blitta plant, a double partnership with the Dangote Group, CIZO, agropoles, industrial parks, and the construction of a reference hospital. 

Another major event that took place last year, according to the minister, was the Togo-EU forum. “It produced many good things, both to the government and the private sector.” Actually, in the six months that followed the forum, “7,946 visits were recorded on its official website.” 

“Reforms implemented by the government affect the lives of the Togolese people. Our current challenges focus on accelerating ongoing reforms aimed at cutting input costs (water, power - relative to newly built plants, telecommunication, and internet), improving tax earnings, access to loans, E-land, and E-justice especially, for a better appropriation,” Johnson told the media. 

“2020 will not be an easy year because we’ll have to sustain our reforms to attract investments from the private sector, which is our most important partner.” This statement aligns with a similar one made by President Faure Gnassingbé, a week after the World Bank released its latest Doing Business report: “This is a race and we must keep up, accelerate even, the pace of our reforms. So let’s do it and let’s do it right!”

Octave A. Bruce

In Agoè-Assiyéyé, Cacavéli and Adidogomé, which are located on the outskirts of Lomé, stores, slaughterhouses, restrooms, warehouses, and stalls will be built in three markets. 

The project was initiated by women sellers. It was validated by President Gnassingbé and will be financed with more than XOF500 million, according to the minister of trade, Kodzo Adedze. 

Besides turning them into modern business centers, the project should boost capacities of the markets concerned, “enabling sellers to work in very good conditions,” the official said. 

The project was effectively launched on January 16, 2020.

In 2019, the Incentive Mechanism for Agricultural Financing (MIFA) raised more than XOF8 billion for agricultural actors (76,000 overall). 

The beneficiaries, farmers mostly, could boost their activities using the funds. Also, nearly 140,000 jobs were created over the period, according to Aristide Agbossoumonde, director-general of MIFA, who recently met with the press. 

Agbossoumonde also said these performances exceeded initial expectations for 2019. Indeed, the mechanism hoped to raise XOF7 billion. 

Based on these achievements, MIFA expects to raise this year, six times more (XOF50 billion) funds than it did during the previous one.  

Séna Akoda 

The Global Shea Alliance, GSA, has launched a program to boost the exports of quality shea and its derivatives produced in Benin, Burkina Faso, Mali, and Togo. 

This is a $3.6 million program launched in partnership with the Enhanced Integrated Framework, (EIF). Its programs is “Supporting the Inclusive Commercial Development of the Shea Value Chain” (PRADCIFK).

Besides boosting exports, the program will bolster access to international markets for small and medium enterprises (2,180 of them overall). It will also increase the capacities, thus the earnings, of shea processors and collectors (including 30,660 women). 

In effect, volumes of shea traded annually in the countries concerned are expected to grow by 28,880 tons, due to the initiative. 

Togo, let’s note, is the world’s 7th biggest shea producer. Last October, the country established the national inclusive federation for shea which regroups planters, collectors, and processors. 

R.E.D

A delegation from the Swiss firm Global Synergy Africa (GLOSYA) met with officials from the Togolese Chamber of Commerce and Industry (CCIT), last Tuesday. This was revealed on the government’s official website. 

On this occasion, the Swiss delegation said it was looking to invest and enter various African markets, including Togo. On the other side, Germain Meba, president of the CCIT, told the Helvetic group about Togo’s investment potential (agribusiness, car mechanics, etc.) ambitions falling under its national development plan.  

Founded by a group of Swiss and African entrepreneurs, GLOSYA operates in infrastructure, health, education, among others. It develops projects and handles training and management activities.

The Francophone Africa maritime cluster (CMAF) signed with France’s maritime cluster a partnership agreement on January 14, 2020, in Abidjan. The document was signed by the respective heads of the two parties, Togolese Charles Kokouvi Gafan, and Frédéric Moncany. 

“The partnership agreement,” according to Gafan, “will boost actions between the two organizations and make them closer. It will also pave the way for future cooperation in Francophone Africa, between political authorities, port administrations, and businesses.” The convention will help boost intra-regional trade and defend concerned actors’ interests, CMAF’s chief adds. 

Let’s recall that CMAF’s purpose is to support the growth of economic operators in the maritime sector, as well as that of landlocked countries depending on maritime transactions. 

Séna Akoda

NSIA Group eyes a spot in the Top 5 best financial services of Togo. The firm operates in the country through its subsidiaries, NSIA Assurances, and NSIA Banque. 

The group has the same goal in the four other countries where it operates, namely Côte d’Ivoire, Benin, Guinea Conakry, and Senegal. 

In terms of growth, “the next step for NSIA Banque is to reinforce its footprint in the five countries where it is established, in addition to expanding to countries with a strong culture of insurance,” said Janine Kacou Diagou, Managing Director of NSIA Group. She wishes to “actively contribute to boosting banking rates in West and Central Africa, as this will drive financial inclusion.”  

Let’s recall that, as part of its strategy to grow its presence in Togo, NSIA has acquired Diamond Bank’s local unit. There, it currently operates in the finance and bancassurance sectors. 

Séna Akoda