Feasibility studies for the Abidjan-Lagos road corridor project has begun.

Related contracts for the studies, environmental and technical, are already signed, reliable sources indicate.

An execution team was set to steer the project and monitor the ongoing studies. This cell will communicate details about progress made to the ECOWAS Commission, as the project goes on.

While $22 million has already been raised for the project, an additional $3 million should be this year.

Let’s note that 75% of West Africa’s commercial activities depend on the 1,000km-long corridor. It will connect Abidjan to Lagos, passing through Lomé and Cotonou. “In 2020, when the project should be completed, heavy trucks should move from Lomé to Cotonou (150 km) in five hours, against 11 hours at the moment,” says AfDB.

Séna Akoda

HeidelbergCement, world’s second largest cement maker, plans to invest €25 million in its Togolese subsidiaries, Cimtogo, Scantogo and Granutogo.

At a meeting with the press last Friday, Eric Goulignac, local MD for the firm, discussed projects planned by HeidelbergCement to support the national development plan (2018-2022 PND) whose second axis focuses on the extractive sector.

At the beginning of the summer, this investment programme will be submitted to the German company’s board. It includes the installation of a new grinder in Lomé, and a solar PV plant to fuel factories. All projects are to cost €25 million or more than CFA16 billion.

In its financial statements for 2018, HeidelbergCement revealed that Cimtogo, the group’s largest subsidiary, recorded a net benefit of €3.7 million (CFA2.4 billion) in 2017, while Scantogo in which the German holds an 89% stake had a net profit of €7.7 million (CFA5 billion). Granutogo, its third subsidiary recorded a net profit of €0.3 million (CFA196 million) over the period.

Leveraging a successful bond issuance recorded last Friday, Togo seeks to raise a total of CFA95 billion on UMOA securities market during five more operations it plans this quarter.

In detail, according to the UMOA-securities debt planning agency, the country will seek CFA40 billion on the regional market, via two fungible treasury bills issuances. The two operations are set for April 19 and June 14, with a respective target of CFA20 billion each. On May 17, another operation, a fungible treasury bonds issuance, is set for a similar target. Two more then, fungible bonds issuances, are set for May 31 (with a target of CFA15 billion) and June 28 (CFA20 billion).

Overall, Togo intends to raise CFA115 billion this quarter, up by CFA20 billion compared to the previous one.

Séna Akoda

The Togolese government intends to, by 2040, triple freight to landlocked countries to which it has access by building a dry port in Cinkassé, in the Savanes region. From 3.786 million tons now, this volume should stand at 10.230 million in line with the authorities’ target.

The port will be built over a 100-hectare property. It will help containerize and strengthen transport corridor between the Port of Lomé and Cinkassé.

The infrastructure will have customs facilities for goods from Burkina Faso, Ghana and Niger, as well as warehouses for the de-containerization and distribution of freight. In addition, there will be a single desk and offices to handle logistics procedures and organizations, modern equipment and facilities for cargo transfers between trucks.

The project which is estimated to cost $50 million will be developed under a public-private partnership. In this regard, authorities are looking for partners that will ensure conception, financing, construction, exploitation and/or maintenance. 

It will be one of the key projects of the PND which will be at the heart of the coming Togo-EU economic forum, next June 13-14.

The High Authority for Audiovisual and Communication (HAAC) just adopted a strategic action plan covering the 2019-2023 period.

To carry out this plan, the media regulatory organ should raise CFA3.5 billion. PNUD’s representation which helped draw the plan said it will support.

According to Maurille Agbokou, Advisor on the project, funds alone are not enough to facilitate the plan’s deployment. Beyond raising funds, the regulator must discuss with media and film club managers, in addition to enhancing women’s position in media and governing bodies.

Also, the advisor believes it is important to proceed to a step-by-step assessment to implement necessary adjustments with the main goal being to optimize achievements targeted under the five-year strategic plan.

Séna Akoda

“Digital transformation has the potential of unlocking new pathways for inclusive growth and creating jobs in Africa…Yet, access to the internet remains unattainable for most people in the region, which requires investment to be made in infrastructure and youth education,” the World Bank said in the latest edition of its Africa’s Pulse report.

“The digital transformation can increase growth by nearly two percentage points per year and reduce poverty by nearly one percentage point per year in sub-Saharan Africa alone,” the report adds.

To achieve this, investment must be made in skills and the development of digital platforms which will enable countries to better manage public finances and citizens to better interact with their administrations.

Togo also is at the heart of the digital transformation as reflected by the arrival of firms such as Kobo360, Gozem or Carasigbe which are present in the country.

Octave A. Bruce

Téolis, the internet service provider (ISP) which recently entered the Togolese market announced that it would open up its capital only under certain conditions.

“We are willing to open our capital. It is not closed. However, for now what we are looking for are real partners, who bring to the table more than just money. We are looking for a partner with expertise,” a global network, Téolis’ Chairman, Michel Bagnah confided to Togo First.

According to Bagnah, Téolis has initiated its investment plan, which aims at generating a turnover of more than XOF3 billion over the next four years. 

Presently however, the ISP is deploying in Baguida (13km east of Lomé) and Agoè (north eastern suburb of Lomé), and plans on expanding inside the country, while adding remote monitoring and cybersecurity to its offers. 

The second phase of the expansion of the national road n°1 (RN1) will be showcased during the Togo-EU forum which will be held in Lomé next June 13-14.

The phase which will cost $620 million should improve the movement of goods and people along the Lomé-Ouaga axis, in addition to boosting performances of the port of Lomé. It articulates with other projects such as the dry port of Cinkassé and the multipurpose platform of Adakpamé.

Regarding investment opportunities, multiple forms of financing are available, namely: concessions, Build-operate-transfer (BOT) agreements, partnership agreements, and traditional loans from development banks.

Investment can be made at the various stages of the project including conception, financing, construction, exploitation and maintenance. 

Starting next June 23, Ethiopian Airlines will be flying to Houston, Texas, via Lomé. This is after deciding to terminate its Addis Ababa-Lomé-Los Angeles liaison.

According to reliable sources, the line that went to California is being redirected to Houston and there will be three flights per week to this destination. 

“New flights to Houston will be the only line between Houston and Africa and will ease movement of Africans in Houston, as well as oil firms and others who operate on the continent,” the airlines said.

The new line will contribute to Lomé’s vision to become by 2022 a logistics hub in West Africa.

Recently, Brussels Airlines announced it would connect to Lomé, thus becoming the second European airlines to do so, after Air France.

Séna Akoda