During a ministers council held October 3, the government adopted the 2019 finance and management bill. 

Under the new bill, the State’s budget for 2019, covering expenditures and revenues, should stand at CFA1,461 billion, against CFA1,311 billion in 2018, thus up 11.5%.

Budget revenues are expected to amount to CFA881 billion against 895 billion in 2018, down about 1%.

The government expects budget deficit next year to amount to CFA13.9 billion, financed by treasury surplus. Indeed, treasury earnings should reach CFA576.8 billion, up 17.5% while  treasury expenses are to stand at 562.9 billion.

To meet this budget, Lomé expects its economy to expand, driven by household consumption and private investment. In addition, it will make sure public investments are at an acceptable level. Hence, Togo’s economy should grow by 5.1% in 2019, against 4.9% in 2018, spurred by major projects like the 2018-2022 national development plan (PND 2018-2022) whose main objective is to structurally transform Togo.

According to Togo’s government, 2019’s budget forecast are based, just like previously, on authorities’ goals under their social and economic policy as well as on a coherent macro-budgetary framework with the three-year program backed by the IMF’s extended credit facility (ECF) concluded May 5, 2017.

In this framework, the government commits to be “as strict towards the implementation of the 2019 finance and management bill”, to avoid “any occurrence that could hurt macroeconomic stability”.

“The government fully commits to improving public finances and take all measures necessary to speed up economic growth, ensuring that social needs of the Togolese people are met,” the authorities declared.

Fiacre E. Kakpo 

A low growth, a more unfavorable global environment, tighter financial conditions when raising capitals on international markets, increase of commodities prices in contrast with the capping or fall of mineral prices, a rise and change in the structure of public debt, paired with a low productivity. Those are the projections that made the World Bank scale down its growth forecast for the Sub-Saharan African region.

Indeed, the institution, in its half-year report on Africa’s economic situation released on 3 October 2018, reduced forecast for the region to 2.7%, from 3.1% previously (in April).

The decrease is attributed to a growth slower than expected of major economies like Nigeria, Angola, and South Africa. A situation that contrasts with other countries of West Africa. 

Economic activity was strong in countries known for recording a rapid growth but being less rich in resources, a performance driven by agricultural production, services, household consumption and public investment, the World Bank said.

To accelerate and sustain inclusive growth, the Bretton Woods institution urges African leaders to pursue investments that favor the people and boost productivity, and also improve resource management.

According to the Bank’s forecast, Africa’s economy should grow by 3.3% and 3.6% in 2029 and 2020 respectively.

Fiacre E. Kakpo

Spanish telecom firm Eurona will, via its African subsidiary Nortis, supply broadband via satellite to 300 schools in Benin. The firm disclosed this in a statement dated September 24, 2018, on its website. The project which is backed by the Fund for the Internationalization of the Company (FIEM) aims to improve access to internet and quality education for students in Benin.

Eurona also said it is currently in talks with Togo’s government to set an internet network that will be used for telehealth. This would improve populations’ access to health experts and services of quality. Test phase of a similar project will soon be launched in Morocco’s central region.

According to the Spanish multinational, all these investments show how strong its commitment to universalize internet access in Africa is, to bridge social gap. Fernando Ojeda, Eurona’s CEO, added that “the projects are strategic commercial milestones falling under the firm’s 2018-2022 business which it revealed a few weeks ago”.

Under the sponsorship of Togo’s ministry of economy and finance, the Bourse Régionale des Valeurs Mobilières (BRVM) will launch the 13th edition of the BRVM days in Lomé next October 18

Placed under the theme “Innovation and stock markets’ development”, these days should enable the stock exchange to showcase its financial products and services to Togolese firms and investors.

This would dynamise the regional stock market and aims to develop a stock culture within WAEMU.

Many activities are planned to this end; such as a discussion on “regulation challenges impairing growth of stock markets in Africa”, a conference on “SMEs financing via stock markets”, which will be hosted by Ecobank’s chief for the WAEMU, Paul-Harry Aithnard.

Other scheduled activities include a workshop themed “Getting firms listed on stock markets: How to successfully proceed?” and another conference on the “role of stock market in the economy’s financing”, hosted by Dr. Edoh Kossi Amenounve, BRVM’s Director General.

BRVM is a specialized financial institution created on December 18, 1996 by the WAEMU ministers’ council. It is based in Abidjan but has a representation in each of the WAEMU nations.

Séna Akoda

Togo plans to revise its mining regulations, under its mining governance and development project (PGDM). The move should focus on three main axes: regulations'  revision, support to mining inspections, and integrating systems to monitor standards and performances of mining operators in Togo.

Under the revision of regulations segment, the authorities plan to review existing laws and decrees imposed on the mining industry to ensure environmental and social protection. The government also intends to proceed to an institutional review to identify the various ministers and institutions assessing and ensuring that standards set in the sector are met. Additionally, an analysis of coherence between mandates and commitments of public agencies in charge of inspecting and managing mining activities in conformity with laws regulating the sector will be conducted.

Under the support to mining inspections, the government will support the General Directorate of Mines and Geology (DGMG) while it inspects at least five mining operations which will be considered as a representative sample of the industry, assessing criteria like ore type, geography, environmental and social impacts. Authorities will also design a knowledge transfer strategy to develop regulations, draw on-site inspection procedures, etc.

Under the data management system, the State plans to set a system that will collect, publish and exploit mining data and will also recommend adequate measures to ensure the system’s sustainability.

The whole project will be trusted to a firm for which hiring process is underway.

Séna Akoda

Togolese engineers met for their first general assembly to produce a code of conduct that will ensure their work is properly regulated.

The move was spurred by some misconducts of some of them and also because some individuals portray themselves as engineers without having the title.

During the general assembly, the engineers created a committee to monitor all laws that will be produced in regards to the sector’s regulations. The goal is to get these laws adopted by the parliament.

This committee also proposed the creation of a professional order of engineers to regulate access to the profession. Beside restructuring the profession, the committee wants engineers to be acknowledged by clients and partners as true professionals.  

Séna Akoda

Sixty-five youths from the Support Fund for Youth-led Economic Initiatives (FAIEJ) and Lions Club International, are currently taking part in a workshop for young entrepreneurs in Lomé where they are trained in methods of creating and designing business plans. 

The workshop on October 1 lasted two weeks. In effect, the trainees will build up their leadership skills to better identify and manage opportunities. “It is a place to train these young people,” said FAIEJ’s director general, Sahouda Gbadamassi-Mivedor. 

The workshop focuses on three main pillars, knowingly: helping youths overcome challenges, build their skills and help them master markets. 

FAIEJ is a mechanism put in place by the ministry of grassroots development, craftsmanship, youth and youth employment. It promotes entrepreneurship and youths’ economic insertion.

Bolloré will invest about CFA127.1 million in the construction of Kovié market (Zio prefecture).

Total cost for the infrastructure is about CFA240 million. The State will inject the remaining sum. Related works commenced last September 28 with the first stone laid by the minister of grassroots development, Victoire Tomégah-Dogbé.

Construction of this new market, which will replace the old one, falls under the Program to support community-oriented micro-projects (PSMICO), led by the national agency for grassroots development support (Anadeb).

It will have 15 sheds, 7 of which will have 28 places, four storage warehouses, 2 blocks of WCs, 1 administrative block, a slaughter house and a photovoltaic well, among others.

In Togo, it should be recalled, Bolloré has already constructed various sanitary, socio-educational and cultural facilities.

Octave A. Bruce

Togo’s government plans to build waste management centres in Dapaong and Atakpamé, capitals of the Savanes and Plateaux regions. This move aligns with the authorities will to coordinate decentralized management of domestic waste.

According to a document obtained by Togo First, the projected centres are intermediate recollection centres (IRC) and waste storage infrastructures, and others to treat faecal sludge and finally end treatment and valorization centres.

In detail Atakpamé and Dapaong will respectively get seven and five IRCs. The two towns will also be equipped with a watch post, a shared building, a car park, and a multipurpose metallic hangar. Technical landfills, composting spaces, effluent treatment plants are also projected.

All the infrastructures will be funded by the 11th European Development Fund, in line with phase 1 of Togo’s Water and Sanitation project (PEAT-1).

The project will be managed by the ministry of development planning which is seeking qualified firms to carry out projected works. A tender was launched to this end.

For a more efficient management of urban waste, a modern technical landfill centre was established in the Zanguera district, which is located on the outskirts of Lomé. 

Séna Akoda