Togo First
Togo: Mitsubishi wishes to join the CI-ZO program
It’s effective. The Japanese firm Mitsubishi wishes to join the CIZO program in Togo.
On July 23, Yas Doida, Director of Mitsubishi Africa, after meeting with President Gnassingbe, declared: “We wish to contribute, as a Japanese firm, to the CIZO programme launched by the Head of State with a goal of achiving universal power coverage by 2030. We talked about the various off-grid solutions we wish to introduce in the country to ease access to a quality renewable source of energy, both in urban and rural areas.”
The CIZO is a scheme under which cheap solar kits are distributed across the country, its rural areas especially. It aims at profiting more than two million Togolese by 2022.
Already active on the project are BBOXX, a British firm, and SOLEVA with local firm KYA-ENERGY offering training for the kits’ maintenance. Mitsubishi would thus be the third to join the scheme if talks are conclusive.
Séna Akoda
Togo : Government to rehabilitate and asphalt 600km of roads by 2022
Togo’s government plans to rehabilitate and asphalt nearly 600km of roads by 2022. This will ease traffic and improve access to remote areas while unclogging some major axes.
Through the project, the authorities want to get a modern road network that will enhance transportation of people and goods, such as agricultural products to major cities, while improving road safety. This aligns with the national development plan which aims at making Togo a commercial corridor as well as boost agricultural value chains.
Monies needed for the project, part of which is already secured, are estimated at more than CFA350 billion. In detail, rehabilitation works include the Tsévié-Kévé-Zolo axis (65km), Agou-Notsè (50 km), Grand contournement de Lomé (from Baguida to Adétikopé - 42 km) in the South.
In the Centre and North, roads to be rehabilitated include the 21km Kara bypass which begins in the district of Awandjélo and the major bypass of Atakpamé (15km).
Besides these main axes which should likely benefit from the PIDU (Urban Development and Infrastructure Project), the works will lead to the rehabilitation of 322km of national roads currently in poor shape.
Ecobank considers better supporting local entrepreneurs in Togo
In Togo, Ecobank executives met yesterday with some young local entrepeneurs to discuss possibilities for the bank to provide them institutional and financial support in their ventures.
The meeting held in Lomé was chaired by the Ministry of Youth, Victoire Tomégah Dogbé. Also present were Mamady Diakité, MD Ecobank Togo, Paul harry Aithnard, Regional Director of Ecobank in WAEMU, and Kanka Malik Natchaba, Coordinator of CPES.
Besides providing better support to entrepreneurs in the country, Ecobank wants to support the government’s vision for job and wealth creation leaning to its national development plan. The latter indeed intends to create 500,000 decent jobs by 2022.
Octave A. Bruce
Togo: Kinkéliba tea startup seeks CFA124 million to start industrial production
Komi Dovi Koudou, founder of Natuthe Kinkeliba, the startup that produces Kinkéliba tea, plans to start industrial production soon. To this end, the young Togolese entrepreneur intends to raise CFA124 million.
In an interview with Togo First, he declared: “We are mobilizing funds to acquire equipment, to produce more rapidly, and reduce related costs and subsequently get our Kinkéliba tea to all social classes.”
The funds should help the firm increase its production area to 20 hectares (from only two now) by 2025.
Komi Dovi Koudou added that he hopes parternships born from the recent Togo-EU economic forum will concretize, yielding investments for his business. He also urges Africans to promote his product, thus contribution to job and wealth creation.
Japanese giant Mitsubishi decides to invest in off-grid solutions in Togo
Famous Japanese car dealer Mitsubishi Corporation has decided to enter the Togolese power market. The firm will provide off-grid solutions to local populations, those living in rural areas especially. The news was disclosed yesterday by Yas Doida, Head of the Company’s Branch in Africa, after meeting with Togolese Prime Minister, Sélom Klassou.
“We mostly discussed energy,” said the Japanese who added that they (Mistsubishi) want to provide power to all Togolese people by 2030. “There are many off-grid projects: it is possible to have efficient energy with lower means.”
Doida then lauded how Togolese authorities welcomed the project, stating that “it will begin this year and be conducted over the long term.”
Mistsubishi’s move brings Togo closer to achieving its power transition to renewables. This initiative, let’s emphasize, adds to the CI-ZO which is carried out by British firm BBOXX and SOLEVA and also focuses on providing off-grid solutions across the country.
Séna Akoda
Togo: World Bank reiterates its will to finance the PND
“Togo can count on the World Bank’s permanent support. We will continue backing its national development plan to foster inclusive growth, by improving business climate and boosting entrepreneurship in the country.” These were the words of Coralie Gevers, the new head of operations of the World Bank in Togo, during a visit in Lomé.
The statement falls in line with a commitment by the Bretton Woods institution to align its partnership framework agreement with Togo’s 2018-2022 national development plan. Already, let’s recall, the World Bank has in the country a portfolio of 17 projects valued at $385 million.
During her visit, Gevers was at Africa Global Recycling (AGR) and the Lomé Container Terminal (LCT). The LCT was, it should be recalled, financed by the IFC, World Bank’s arm which finances the private sector. AGR, is a local startup which recently joined the IFC’s local champion program.
Séna Akoda
“Made in Togo” trade fair to begin in Lomé next Friday
Announced last March, the third edition of the Made in Togo fair will take place on Friday, July 26, at the Centre Togolais des Expositions et Foires de Lomé (CETEF).
The upcoming event, which is sponsored by the ministry of trade and industry, should be the second largest of its kind after the International Fair of Lomé.
The theme picked for this edition is “Together, let’s valorize and consume local products.”
Overall, 300 exhibitors and nearly 15,000 visitors are expected at the fair which will close on August 5.
Octave A. Bruce
Togo : IFC will focus more on SMEs from now on
The International Finance Corporation (IFC), the World Bank’s arm for private sector, plans to soon invest in micro, small and medium enterprises in Togo, after having financed large firms such as Ecobank, Contour Global and LCT in the country for years.
On July 8, 2019, Africa Global Recylcing, a local SME, joined the IFC’s Local Champion Program in this framework.
“From now on, our strategy is to work with SMEs. In this framework, I signed on Monday, July 8, a technical support agreement with AGR (Africa Global Reclycing), a small firm which does recycling. Our goal is to support this business, help it grow and meet its growth objectives. This is the type of investment we’ll be making henceforth,” declared Sérgio Pimenta (photo), Vice President of the IFC, during a three-day visit in Lomé.
“We want to invest more, create new jobs and provide new opportunities to Togolese people,” he added.
Just like the AGR, well-known local businesswomen ‘Nana Benz’, could also benefit from the corporation’s support.
“I have discussed with these famous businesswomen on how we could help Togolese businesswomen… I was fascinated by their history, by how they became some of the first of their kind to buy a Mercedes Benz with their business,” Pimenta also said.
The IFC’s new strategy to invest in smaller businesses emerges as Togo is seeking funds to finance its national development plan; a plan to which the private sector should contribute greatly.
Donor’s Roundtable Discussion on WAGRIC Project: Togo seeks funding to double its N°1 national road
Last Thursday, Togo was represented at the Donor’s Roundtable Discussion on Investment of WAGRIC Project.
At this occasion, the country presented its project to double the N°1 national road. “This should boost economic transactions by easing goods circulation,” said Etsri Homevor, General Secretary at the Togolese Ministry of Development Planning.
Besides this project, two other similar ones have been submitted to lenders. These projects aim to improve road networks in the north-southern and east-western regions of the country, the Togolese representative indicated. Overall, Togo presented 15 projects that fall under its 2018-2022 national development plan.
The Project on the Corridor Development for West Africa Growth Ring Master Plan (WAGRIC) aims at fostering economic growth in West Africa, by leveraging the region’s economic potentials and available resources.
Conceived using as basis four countries in this region, namely Burkina Faso, Côte d’Ivoire, Togo and Ghana, this plan was then extended to Benin. Planned over a period of 20 years, this plan’s execution is valued at $23 billion, according to WAEMU.
Séna Akoda
Togo: A B2B platform launched to enable close monitoring of projects selected at the recent Togo-EU economic forum
In Togo, a B2B platform was just launched to ease exchanges between the carriers of the 141 bankable projects selected at the recent Togo-EU economic forum (FETUE) and their European partners.
“The platform which was put in place with the help of the European Union, will be operational for two years,” revealed Sandra Johnson, coordinator of the FETUE and head of the National Business Climate cell. This was during an interview with Togo First.
Concretely, the new platform aims at enabling the close monitoring of the projects concerned, making sure that partnerships announced effectively come to fruition.
Responding to concerns expressed by some of the projects’ promoters in this regard, Johnson said: “Given the rigor set by high authorities, we can’t just do things in a rush, in regards to the follow-up of the forum. Actually, an institutional framework related to the follow-up mechanism as well as a dedicated strategy were just validated and are being implemented.”
The official further added that a meeting would soon be held with the project carriers to explain how the platform works.
Séna Akoda