Togo’s rural electrification and renewable energy agency (AT2ER) seeks investors to build two solar plants in Kara and the Central region. The two facilities will have a combined capacity of 60 and 80 MWac (Megawatt alternating current).

The AT2ER has in this framework issued a pre-qualification notice targeting private actors interested in the projects. Phases they will cover include the conception, financing, construction, installation, commissioning and exploitation of the plants. 

Regarding exploitation, it will take place under a private-public partnership and the related concession deal will expire after 25 years. 

Those interested should submit their proposals by March 30, 2020. 

For this tender, the AT2ER is advised by the International Finance Corporation (IFC). For cost-effectiveness, the agency leveraged the institution’s Scaling Solar initiative. 

Let’s also recall that under its national electrification strategy, the Togolese government plans to set up a solar plant in each region of the country. 

Ayi Renaud Dossavi

Over the first 11 months of 2019, Togo was Africa’s leading country, in terms of attracted foreign investments. This was reported by FDI Intelligence, which is a specialist division from the Financial Times providing industry-leading insight and analysis on crossborder expansion, greenfield inward investment and foreign direct investment trends.

From January to November last year, Togo secured 11 new investment projects, against only two (2) over the same period in 2018. This is the highest growth rate relative to the number of greenfield projects, in all of Africa. Before that, the continent’s peak was seven projects, secured in 2013. 

According to FDI Intelligence, Togo has attracted 6.7 times more investments than expected of an economy of its size. It is ahead of Rwanda and Senegal, respectively second and third. 

Lauding the achievement, President Faure Gnassingbé declared: “This news consolidates our conviction that we are on the right track regarding the many reforms we have put in place to ensure prosperity and inclusive growth in our country.”

Most of the projects secured by Togo were yielded by a double partnership reached with the Dangote Group at the beginning of November last year. Under the deal, a phosphate treatment plant (at a cost of $2 billion) and a cement factory ($60 million) will be built in the country. 

Another major investment is that of Amea Power which plans to build a $33.5 million solar power plant in Blitta. 

Togo, let’s recall, is among the top reformers of Africa and third worldwide, according to the 2020 Doing Business report. The country received last year, its first international finance rating, and secured its first loan on the international market. 

Octave A. Bruce

Nearly 200 young entrepreneurs gathered yesterday for the first session of the Jeudi J’ose meeting of the year. 

This is the 51st session of this monthly event organized by the FAIEJ. It focused on planning towards the good achievement of goals throughout the year. 

‘Jeudi J’ose’ was launched in 2015 and takes place every second Thursday of the month. Its purpose is to get public authorities and youths to kindle the entrepreneurial flame. Last year, many of these meetings focused on taxation, institutional support for businesses, various means and tools provided to young entrepreneurs for their growth.

January

Government adopts a legal framework for the production, distribution, and commercialization of renewable energies

The government’s goal here is to “tackle issues spurred by the insufficient power availability, increase the related capacity,” as well as reduce the county’s dependency regarding electricity. 

February

Green Climate Fund backs transition to clean energy in some WAEMU States

Togo, Benin, Burkina Faso, Guinea Bissau, Mali, and Niger get €100 million from the Green Climate Fund to accelerate their transition towards clean energies. The funds will be provided through the BOAD. 

March

The government provides a subsidy for households benefiting from the CIZO

Every month, over a period of 36 months, Togo has decided to provide a 40% subsidy for households having CIZO solar kits. 

Togolese startup Kya Energy Group selected to train 3,000 engineers to service solar kits under the CIZO project

KYA-Energy Group, winner of the 2018 BOAD Startup award, lands a deal with the government of Togo to train 3,000 service engineers on the CIZO project. 

Togo and AMEA POWER ink MoU to set up a solar plant in Blitta

During a trip to the United Arab Emirates, Togolese President, Faure Gnassingbé, signs a memorandum of understanding with AMEA Power. Under the agreement, a 30MW solar PV plant is to be built, in the North-central region of Togo. 

BOAD commits to finance Kekeli Efficient Power thermal plant.

The BOAD’s board of directors approves a XOF25 billion financing to build the Kekeli Efficient Power thermal plant. 

The Minister of Mines and Energy, Dèdèriwè Marc Ably-Bidamon, attends 13th Germany-Africa Forum on Energy

Among others, the official talks about challenges impeding the energy revolution and its financing, in Africa. 

June

SOLEVA, second approved operator on CIZO, starts activities

SOLEVA, the second operator on the CIZO project, after BBOXX, starts its operations. 

The laying of the first stone fo Kekeli Efficient Power plant takes place

Prime Minister Komi Sélom Klassou and Eranove executives lay the first stone of the Kekeli Efficient Power thermal plant. The infrastructure which will have an installed capacity of 65MW will use combined-cycle technology. This will ensure that it generates more power, without consuming additional gas, while limiting CO2 emissions. 

EU and AfDB announced support to CIZO 

Alongside the AfDB, the European Union announces its support to the CIZO rural power project, as part of its investment plan in Africa. 

July

Mitsubishi gets engaged in CIZO project

Mitsubishi announces its engagement in CIZO, after a talk between President Gnassingbé and the firm’s chief for Africa, Yas Doida. 

August

Mitsubishi buys into BBOXX

The Japanese conglomerate led a $50M investment in the British off-grid solar company. 

Ecobank transitions to clean energy

Ecobank Transnational Incorporated (ETI) migrates towards clean power by using solar PV power plants to meet part of its energy needs. 

October

World Bank lauds Togo’s power-related reforms in 2020 Doing Business report

In the 2020 Doing Business report, the World Bank lauded Togo’s results in the power sector. 

The country ranked 99th over 190 counties with a score of 72.6 points. The improvement was spurred by three main reforms: a 50% reduction in the fee to get connected to the grid for businesses, the reduction in the period to get connected to less than 30 days, from two and a half months in 2017; as well as a more efficient power supply. In 2019, Togo had ranked 105th in this report, with a score of 70. 

December

Eranove closes funding process for Kekeli Efficient Power thermal plant

Eranove closes the funding process for the Kekeli Efficient Power project - raising XOF65.4 billion from institutions and banks (BOAD, AFC, Orabank Togo, BIA Togo, NSIA Benin, and Banque Atlantique Togo). The operation was guaranteed by GuarantCo with XOF14.2 billion. 

AfDB invests about XOF9 billion in CIZO and PND

The government and the African Development Bank (AfDB) sign an agreement related to the CIZO’s social component, the PRAVOST, and the targeted support project aligning with the PND. 

Séna Akoda

Next April, Lomé should host the Etats Généraux de l’Eco summit. An initiative of the Togolese economist and former minister, Kako Nubukpo, the event should gather various experts who will discuss the Eco - which is expected to soon become West Africa’s new currency. 

The theme of the summit is: “Which currency for which development in West Africa? Eco 2020.”

Eminent African figures such as Mali’s Aminata Traoré, Carlos Lopese from Guinea Bissau, Cristina Duarte (Cape Verde), Felwine Sarr and Demba Moussa Dembélé (Senegal), Mamadou Coulibaly (Côte d’Ivoire), and Martial Ze Belinga (Cameroon), should be present. 

Nubukpo intends at the event to let African experts examine the currency, in order to provide appropriate answers to the various questions surrounding its effective implementation, in a few months. 

Let’s recall that so far, only Togo meets all convergence criteria for the adoption of the ECOWAS single currency. 

R.E.D

Since it was launched in 2014, the National Fund for Inclusive Finance (FNFI) claims it lent XOF87 billion to more than a million people. 

Last year alone, the fund registered 35,812 new beneficiaries and more than 32,000 renewals. 

According to reliable sources, the average reimbursement rate for the loans is 93%.

Part of the loans, it should be emphasized, went to annexed programs such as the national program for the promotion of rural entrepreneurship (PNPER). 

The FNFI’s purpose is to lend money, at low-interest rates, to citizens with no access to traditional financial systems, but who have various projects that can contribute to the growth of the Togolese economy. 

Overall, from 2014 to 2019, financial inclusion in Togo soared from 50% to 74%.

This year, HeidelbergCement will expand its Togolese subsidiary, Cimtogo, spending more than $30 million in the process. Eric Goulignac, MD of the German firm’s subsidiary, revealed this to the press on January 8.

Goulignac said: “This investment shows that HeidelbergCement believes in the growth potential of the Togolese economy, and is a way to contribute to its development, by using local resources, in line with the national development plan.”

In effect, the cement maker will increase, by a million tons per annum, the grinding capacity of Cimtogo’s factory in Lomé. 

In the process, HeidelbergCement, which already claims nearly 4,000 direct and indirect jobs in Togo, plans to create 30% more direct jobs. 

Counting the upcoming $30 million investment, the group would be investing a total of $250 million in the West African country, over a period of nine years. 

Let’s recall that besides its plant in Lomé, Heidelberg has a grinding station in Kara and an integrated clinker plant in Tabligbo. 

Séna Akoda

Yesterday, the UMOA securities market launched its second annual meeting in Dakar, Senegal. 

This year, the event focuses on this market’s challenges, especially on ways to consolidate its leadership. According to UMOA-Securities’ managing director, Adrien Diouf, “the goal this year is to mobilize the whole financial sphere of our region to innovate and get more investors - institutions and individuals - to make the market more dynamic (…) Hence, helping our countries to raise enough for their budgets and development projects.”

Among measures discussed at the gathering, to achieve this goal, is the need for a better distribution of securities. This should significantly expand the investor base, as well as to help produce more sophisticated financial products. 

In 2019, nearly XOF3,420 billion (about $5.8 billion) was raised on the UMOA-securities market. 

Ayi Renaud Dossavi