Gozem, the transportation startup, plans to soon launch its operations in Gabon. 

This will be the third African market that the firm penetrates. It already operates in Lomé (Togo) and Cotonou (Benin).

Founded by Emeka Ajene, the App-based startup recently revealed that it recorded more than 250,000 downloads on Google Playstore since November 2018 when it launched. It has thousands of customers and drivers. Its move to Gabon aligns with its expansion strategy in Africa.  

Séna Akoda

From today to next Saturday, the Central Bank of West African States (BCEAO) is holding the second edition of the WAEMU week for financial inclusion. The event's theme is "Digitalization for financial inclusion: Challenges facing the financial sector and the WAEMU States." 

Hence, it will focus on risks associated with the use of new financial technologies and ways to protect users of financial services.  

Many activities are scheduled in the various WAEMU States as part of the event. Amongst these discussion panels are a top-class forum and a fair on financial inclusion. 

In Togo, let's recall, financial inclusion has been on the rise for some years now. A trend, driven by dynamic decentralized financial services (Microfinance institutions) and others like Eco CCP, Mobile Money, and mobile banking. 

Comforted by its 59-places progression in the Doing Business 2020, Togo is eying a place in the Top50 of the next report (Doing Business 2021). Ranked 97^th in the Doing Business 2020, the country wants to stay on track by projecting a further jump of at least 47 places. The information was brought to the media on Friday 15 November during a press lunch initiated by the Business Climate Unit (Cellule Climat des Affaires- CCA), a few days after the publication of the report which assesses the ease of doing business in 192 countries in the world.

According to Sandra Ablamba Johnson (photo), Minister Counsellor to the President of the Republic in charge of the Business Climate, this challenge can be met given the commitment and determination of the topmost echelon to advance in the ranking.

But to do this, the Minister is still counting on the support of the press, which, according to her, has enabled Togo to achieve the above-mentioned performances. “The results we have had are not only due to the technical efforts but also to your commitment and all the fruitful collaboration we have had over the past two years with you (ed note: media),” she said, delighted.

Séna Akoda 

Overall, Togo's State budget for 2020, revenues and expenditures, has been set to XOF1,466.2 billion, up about 6% compared to previous estimates. 

The government announced the increase on November 13 after the ministers' council held the same day. 

Expectations were scaled up in prevision of a greater household final consumption expenditure and private investment, spurred by the remarkable improvement in the business climate, and initiatives launched under the national development plan. 

Next year, economic growth is forecast at 5.5%, up 0.2% compared to 2019 (where the figure was scaled up twice). 

To reach its goals for the coming year, Lomé "will pursue efforts to boost internal revenues, better allocate public resources based on efficient public spending and better control of budget deficit," the report from the ministers' council indicates. In this framework, the national tax office, OTR, should collect more than XOF660 billion of taxes. 

Beyond these, the government "is fully committed...to taking all measures necessary to accelerate economic growth and appropriately meet social needs." Regarding the latter, special attention will be given, through schemes such as the Community Development Emergency Programme (PUDC), the Project for Support to Vulnerable Populations (PAPV), agro-industrial hubs, and projects aimed at boosting youth employment across various economic sectors.

Similarly, the government commits to "pursuing and boosting efforts relative to the development of rural roads, the rehabilitation of health equipment, and decentralization."  

On November 13, 2019, the parliament passed a law on the attributes and functioning of the Grand Lomé autonomous district. 

The district will be managed by a council of 52 advisors and a district governor. Its communities will be represented by 26 advisors while the other 26 advisors, as well as the district governor, will be appointed by the Head of State. 

"This entity was created in response to a need to execute actions in the capital, some of which relate to development, maintenance, operationalization, and modernization, that are beyond communities' capacities. This was declared by Payadowa Boukpessi, minister of territorial administration," after the law's adoption. 

The Grand Lomé autonomous district is endowed with its own financial autonomy and legal status. It regroups the Lomé-commune and Agoè-Nyivé municipalities. It is the local authority representing the whole of the capital. 

M.S.A 

At end-September 2019, Togo's public debt ratio was 68%. The good news was revealed yesterday by the minister of economy, Sani Yaya. The official was addressing parliamentarians in the framework of the adoption of the supplementary budget act 2019. 

Yaya added that "efforts are pursued to keep the debt ratio, at the end of December 2019, below the WAEMU standard which is 70% of the GDP." 

Already at the end of the first quarter of this year, the country's public debt fell below the 70% standard according to official sources; quite an improvement considering that it exceeded 80% at the end of 2016. 

R.E.D