Last Friday, the government adopted a second supplementary budget act. This was during a ministers’ council held the same day. 

The new budget act integrates the privatization of TogoCom (which results from the merger of Togocel and Togo Telecom) after the State sold its 51% stake in the group to Agou Holding. 

While the transaction made the State a minority shareholder (49%) in TogoCom, it filled its treasury with XOF48 billion. 

Overall, the State’s new budget is expanded to 1,430.1 billion CFA francs, against 1,381.9 billion in the previous draft. 

“This second supplementary budget was adopted amid concerns for transparency and budget sincerity,” a statement from the council of ministers reveals.

Let’s note the new act still has to be approved by the parliament, before being effectively implemented. 

Séna Akoda

Measures are being taken to "develop a reliable, scientific and mathematical mechanism for the redistribution of royalties to artists registered at the Togolese Copyright Office (BUTODRA)." This was declared by Kossivi Egbetonyo, the minister of culture.  

This will be done with support from the World Intellectual Property Organization (WIPO). 

The project is part of various measures aimed at making the Togolese culture sector more dynamic. Amongst these, is the recent decision by the Culture Support Fund (FAC) to no more finance individual projects starting next year. 

Starting next Monday, alcohol testing on Togolese roads will be effective. 

The news came from the ministry of security and civilian protection, yesterday - as it was presenting a safety review covering H2 2019.

The tests, which will be random, will be carried out by police forces. By launching this initiative now, authorities want to limit accidents involving drunk drivers, which are quite frequent at this time of the year.

"We are not forbidding drinking alcohol, but drivers should not exceed the set threshold," said Yark Damehone, minister of safety and civilian protection. And the threshold is 0.5g.

Atcha Dedji Affoh is Togo's new minister of primary and secondary education. The presidential decree appointing the official was issued yesterday, 12 Dec. 2019. 

Affoh was recently the head of Togocom until the telecom firm was taken over by the Agou Holding Consortium. He was replaced at this position by Franco-Malagasy Paulin Alazard.  

With the new appointment, the current government has 24 ministers. 

It is important to note that the ministry of primary and secondary education has a budget of nearly XOF123 billion for 2020. This is around 10% more than it had this year. 

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Togo is to date the only member of the Economic Community of West African States (ECOWAS) to meet the main criteria set for the creation of a single currency for the community. 

This was reported by the News Agency of Nigeria (NAN), which cited Zainab Ahmed, Nigeria's minister of finance. The official made the statement last week at a meeting regrouping Ecowas' ministers of finance and heads of central banks - to discuss about the single currency. 

The Nigerian minister added that adopting a single currency next year, as scheduled, will be very difficult given the actual context. 

On December 21, the presidents of Ecowas countries should meet in Abuja, to assess recommendations of the ministers of finance regarding the single currency project. 

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Togo will host the first regional symposium on artificial intelligence (AI) next Dec 16 and 17, in Aneho. 

On this occasion, the first stone of the francophone agency for artificial intelligence (AFRIA) will be laid in the same town, a representative of the International Organization of French-speaking States (OIF), Eric Adja declared last Wednesday. 

"With this agency, Togo will become a platform for services, promotion of youth entrepreneurship, and cyberpolice training," Adja said. He should head the AFRIA once launched. 

According to the OIF, besides cyberpolice training, the agency will share and monitor information on challenges related to AI. 

Pro-Mangues Vo, a cooperative located in the maritime region, sold 30 tons of mangoes to the Ghanaian firm HPWfresh & dry ltd, HPW, on Wednesday Dec.11. 

This was revealed by the agricultural financing incentive mechanism (MIFA SA) which facilitated the deal. Few months ago, the mechanism had also facilitated the delivery of 1,500kg of beeswax to Koster Keunen West Africa (KKWA) by a group of Togolese beekeeping cooperatives. 

Moreover, in Aug-Sept 2019, MIFA eased the provision by financial institutions of around XOF3.8 billion in loans to actors to the agricultural chain of value. Its goal is XOF7 billion before the end of the year, impacting 130,000 jobs across the nation. 

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Orabank recently invested XOF106 million in the installation of a transformation unit of paddy rice into white rice. The facility will be located in Kovié, about 30km from Lomé. 

The pan-African bank, let's note is the first bank to support the agricultural financing incentive mechanism (MIFA) since it was launched.  

The rice transformation project is led by Vabhekos, a firm owned by Kossivi Amentana. Rice processed will be sold under the La Paix brand. 

The Ris La Paix, according to Amentana, is available in 1kg, 5kg, and 25kg bags. 

Each year, let's recall, Togo produces more than 100,000 tons of paddy rice. 

Starting next year, individual projects will no longer be accepted for financing by the Culture support fund (FAC) in Togo. This was recently disclosed by the minister of culture, Kossivi Egbetonyo. 

The goal of the measure is to push actors of the culture industry to work together and submit to the government, true creative projects for financing, to improve their living and working standards, as well as create jobs and wealth in the country, the ministry's website indicated. 

Established in 2013, the FAC is a mechanism that supports cultural projects in Togo. So far, it has invested a little more than XOF1.8 billion in these projects.  

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