Togo First
Pan-African firm Liquid Telecom eyes Togolese market
Liquid Telecom, subsidiary of Zimbabwean group Econet Wireless, could soon enter the Togolese market.
Last Monday, the group announced in Kigali, at the Africa CEO Forum, which was attended by a Togolese delegation led by President Gnassingbé himself.
If Liquid Telecom succeeds in entering Togo, it would be its first step in West Africa. However it will be the country’s fourth Internet Service Provider (ISP) after Togo Telecom, Vivendi Africa and Teolis.
Founded in 1997, Liquid Telecom is currently the largest pan-African optical fiber operator with a network spanning more than 70,000 km going from Cape town to Cairo.
Octave A. Bruce
Cotton: WAEMU to soon have a regional consultation framework?
In the West African Economic and Monetary Union (WAEMU), actors of the cotton sector wish to put in place a regional consultation framework. This was revealed during an exchange workshop held in Ouagadougou regarding the sector’s structuring in the region.
According to Zourata Lompo-Ouedraogo, cabinet director of Jonas Gbian, head of agriculture, water resources and environment of the WAEMU commission, putting this framework in place is necessary. “Cotton is the main source of revenue for more than 15% of households in the region and it employs almost 70% of its active population in rural areas,” she said.
“It also creates many direct and indirect jobs across all economic sectors and helps fight poverty while contributing to the development of other agricultural sectors,” Lompo-Ouedraogo added.
However, she then emphasized, “boosting cotton output and making the sector more competitive requires that it is better structured, in both the member States and in the region as a whole.”
The above-mentioned workshop was organized to achieve this goal, among others. It began March 27 and will end March 29.
Séna Akoda
Togo-EU economic forum: Hundred projects will be picked and financed by European investors
A total of hundred projects will be financed in the framework of the coming Togo-EU economic forum next June 13-14.
The call for the projects was recently launched on forumtogo-ue.tg, the website dedicated to the event.
The projects cover sectors such as agrofood and agriculture, bank and insurance, construction and related equipment, trade, services and enterprises, transport and logistics.
Selected applicants will have their capacities reinforced to properly sell their projects to European investors.
Also, those interested in attending the forum must register online (registration fee is €77). Four hundred participants, including 150 European business actors are expected at the event.
Séna Akoda
Coastal degradation cost Togo $310M in 2017
Coastal degradation cost Togo $310 million in 2017. This was disclosed in a World Bank report on the hazard’s impacts in West Africa, especially in Benin, Côte d’Ivoire, Senegal and Togo.
In the report, three major factors were discussed: floods, coastal erosion, pollution (water and air) and waste management.
In detail, coastal erosion alone cost the country $213 million, thus 4.4% of its GDP in 2017. Togo, it should be emphasized has more people living near its coasts than any of the other countries surveyed.
As for flooding, Togo lost $10 million to the phenomenon in the year reviewed. This is against a total of $1.45 billion losses for the four countries.
Regarding losses related to pollution and waste, they amount to $87 million, respectively $59 million for the first (water and air) and $28 million for the second.
Let’s recall that in June 2018, the World Bank disbursed $210 million for the West Africa Coastal Areas Management Program (WACA), to help people living in coastal areas better cope with coastal erosion.
Countries benefiting from the WACA program include Benin, Côte d’Ivoire, Senegal, Sao Tomé and Principe, and Togo.
Ayi Renaud Dossavi
Africar Group launches Togo’s first car dealing website
French group Africar, leading small car ads network in Africa revealed March 27 that it would launch in Togo Carasigbe.com, the first-ever online car dealing platform.
This website adds to about 20 others already operating across Africa. With it, both individuals and concessionaires will be able to “sell cars, bikes and trucks, more safely and rapidly.”
Carasigbe.com can be accessed on computers and smartphones.
By launching this platform, Africar joins Kobo360 and Gozem, two other foreign startups that recently started operating in Togo. The French firm is Emerging Classifieds Ventures, an Australian startup that specializes in car and property deals online.
Octave A. Bruce
Immigration: More Togolese prefer staying in Africa than going to Europe
Only 8% Togolese would go to Europe if they had to emigrate. This was revealed in Afrobaromètre’s latest survey on emigration in Africa.
The survey conducted in November 2018 indeed shows that 4 out of 10 Togolese would rather go to another West African country (43%) or another region in Africa (12%).
These figures align with a global trend emerging across the continent.
Africans often leave the continent seeking jobs, youth and graduates especially, or due to poverty which they are fleeing from. In Togo for example, 35% of the surveyed by Afrobaromètre say they would emigrate in search for a job. Other factors like “democracy and freedom” or “peace and security” only motivate 4% of the surveyed.
Let’s note that this year, Togo launched its national development plan which aims at creating 500,000 jobs by 2022.
Ayi Renaud Dosssavi
Africa CEO Forum : Ethiopian Airlines chosen as African Champion of the Year
Ethiopian Airlines won the African Champion of the Year at the 2019 Africa CEO Forum in Kigali. This reflects a “vote of confidence” in the company, two weeks after it suffered the crash of one of its Boeing 737 max; an accident that killed 157 people.
The title rewards the airlines’ efforts in contributing to regional economic integration in Africa. Ethiopian airlines competed with other African giants like South African firm Engil Africa, the Azalaï Hotel group or Morocco’s Banque centrale populaire (BCP).
Let’s recall that Ethiopian Airlines is a partner and stakeholder of Lomé-based Asky Arlines which is a major airlines in West Africa, alongside Ecobank Transnational Incoporated (ETI).
Ayi Renaud Dossavi
Agricultural fair to be held ahead of 11th National Togolese Farmer Forum next month
From April 11 to 19, 2019, an agricultural fair will be held at the Palais des Congrès of Kara. This, ahead of the 11th National Togolese Farmer Forum (FNPT).
During the fair, local agricultural products will be promoted, same for technological innovations, agro-industrial products, and many more.
The fair’s goal, according to the ministry of agriculture which is behind the initiative, is to “valorize agricultural potentialities, as well as local agricultural products in both the country and to international attendees.”
For this year’s edition of the FNPT, the theme is: “Agricultural transformation poles to valorize Togo’s potential: a new vision translated by the National Development Plan (PND 2018-2022).”
Séna Akoda
Togo : Lomé hosts 3-day workshop on social entrepreneurship, organized by US embassy and CNEJ
On March 25, 2019, a three-day workshop on social entrepreneurship was started at the University of Lomé. Initiated by the US embassy and the national coalition for youth employment (CNEJ). This workshop aims at helping young people build their ideas and turn these into products meeting international standards.
What distinguishes social entrepreneurship from traditional entrepreneurship is that the first integrates a social component, beyond personal interests.
The workshop will be led by Theresa Carrington, social entrepreneur, founder and CEO of Ten by Three, a firm that empowers rural communities through craftsmanship.
Let’s note that just before the training was opened, a memorandum of understanding was signed by the CNEJ and the US embassy. This agreement’s purpose is to establish a resource framework for social entrepreneurship, as well as ensure the organization of an annual conference on this topic.
Ayi Renaud Dossavi
Togo: FNFI reveals new products on its fifth anniversary
On the sidelines of its fifth anniversary, the National Fund for Inclusive Finance unveiled new products it will be offering. These include a solution to directly refinancing beneficiaries reaching out to financial partners and another to help beneficiaries formalize (PAF).
The two products were launched in Kara last Saturday during a ceremony presided by Togo’s head of State, Faure Essozimna Gnassingbé.
The PAF finances equipment for craftsmanship and processing. It also aims at providing craftsmen their working capital. According to president Gnassingbé, the two new products are an appropriate answer to requests made by FNFI beneficiaries.
For Mazamaesso Assih, State Secretary in charge of inclusive finance, with these new products, beneficiaries will truly contribute to the growth of Togo’s GDP.
Let’s emphasize that two conventions were signed during the announcement. The first between Orabank and the FNFI and the second between Orabank and the FNFI’s partnering institutions.
Séna Akoda