Togo First
Enhanced Integrated Framework (WTO) : $2.4 million spent to revive soybean sector in Togo
Togo was able to restart its soybean sector with the World Trade Organization’s enhanced integrated framework (EIF). Truly, with PNUD’s support, this program dedicated to least developed economies helped spend more than $2.4 million to boost productive and commercial capacities of the sector.
According to Togo’s trade minister, Bernadette Legzim-Balouki, results are more than encouraging. Indeed, the EIF increased Togo’s soybean output from 24,000 tons to 36,000 between 2015 and 2017, and should help the volume rise further, to 100,000 tons per year, in the years coming. Also, soybean exports doubled over the previously mentioned period, from 10,000 MT to 21,000 MT.
With 150 small and medium enterprises starting to export the beans, corresponding revenues reached nearly two billion CFA while associated tax income soared to 21 million CFA, against 4.2 million only before EIF’s implementation. Last, more than 14,000 soybean farmers were trained while others benefited from financial support.
The programme which ends this year focuses on two types of projects: the first is related to institutional enhancement and the second to enhancing productive and commercial capacities, in the soybean sector.
As a result, talks were already initiated to get technical and financial partners for a new plan that should extend to 2022.
Fiacre E. Kakpo
Bolloré group denies all accusations regarding acquisition of Lomé port’s concession
While Vincent Bolloré was placed under arrest today, in the framework of an investigation on suspected bribery to acquire port concessions in Guinea and Togo, his group denied all accusations.
Bolloré indeed denied claims stating that its transport and logistics branch used communication firm Havas, way before taking over the latter, to facilitate election of Guinea and Togo’s presidents in exchange for port concessions.
“Concessions secured in Togo were in 2001, way before the group entered Havas and Guinea, in 2011, after the fall of number one (Bolloré group had come second for the tender related to concessions), a fall that occurred before presidential election,” Bolloré said in a statement relayed to Togo First.
“The link that some are trying to establish between the acquisition of these concessions and communications has no economic basis and is clear proof of non-understanding of this industrial sector,” the group added.
Besides Vincent Bolloré, the group’s managing director, Gilles Alix, and Jean-Philppe Dorent, chief of international operations at Havas, were also put under arrest for the involvement in the investigation.
Fiacre E. Kakpo
Togo: Agoè-Nyivé prefecture to host agro-ecological centre
Brasserie du Bénin Lomé (Brasserie BB Lomé) and others such as the national agency for sanitation and public health (ANASAP), will build an agro-ecological centre in the Agoè-Nyivé prefecture, located in the northern periphery of Lomé. This was reported by newspaper Togo Matin.
The project is part of the corporate social responsibility program (RSE) initiated in 2016. Its estimated cost is CFA70 million. These funds, the Togolese brewery plans to raise via a public-private partnerships, thus involving private firms and associations in the project which aims at cleaning the surroundings of Adougba River.
“We will work with various organizations including NGOs, ANASAP, canton chiefs, prefecture and locals themselves to concretize a major sanitation project, while preserving environment in Agoè,” said the brewery’s MD, Thierry Féraud. “We picked Agoè because it is close to our factory and also because we have to protect our production site in Lomé,” he added.
Fiacre E. Kakpo
Lomé to host May 11-14 first edition of International Agriculture Forum
First edition of the International Agriculture Forum (FIA) organized by African Union of Development NGOs (UAOD) will take place in Lomé, Togo, on May 11-14, 2018.
The event will regroup participants from 17 countries and be themed: “Innovation and management of African agriculture: roles of State, private sector and civil society”. It will very likely promote partnerships and speed up agricultural trade between Africa’s various regions.
“At the end of this forum, we will update locally and globally, focal points at the level of every UAOD director in charge of agriculture. This would help collect data regarding agricultural storage, needs, capacity increase and equipment needed to improve productivity,” said UAOD Togo’s coordinator, Essozimna TAKOUDA during a press conference last Thursday.
Scheduled for the event, practical workshops, debates on major topics like private sector’s role in agribusiness, the relevance of small farmers and new technologies regarding optimization of production and commercialization of agricultural products and their derivatives. Alongside are planned exhibitions.
UAOD, let’s recall is the founder of NGOs and associations in Africa. It is present in more than 52 countries and intervenes in all development sectors, namely agriculture, gender promotion, immigration, security, health, tourism, culture, etc.
Fiacre E. Kakpo
Moov Togo teams with MFS Africa to expand its Flooz partner network
Moov Togo entered April 20, a partnership with MFS Africa to expand its Flooz partner network.
The move aims to enable more of Moov’s customers to make international money transfers via Flooz. Hence, countries targeted under the initiative are Niger, Côte d’Ivoire and Guinea Bissau. To achieve its objective, Moov will leverage on MFS Africa’s partnerships with mobile operators such as MTN, Airtel, Onatel, etc.
Moov’s users will also be able to transfer cash via Wari to all WAEMU nations and the 33 countries covered by Ecobank’s Rapid Transfer service. “MFS Africa will let you rapidly connect with our operators and money transfer associations: it is very fluid and practical,” said Abdellah Tabhiret, Managing Director Moov Togo.
For his part, Dare Okoudjo, Managing Director MFS Africa said: “the most important for us is that this partnership allow Togolese entrepreneurs to connect to the rest of the world, leveraging on digitalization provided by Moov Togo. With a Flooz account, you can get money from Cameroon, US, and elsewhere.”
Séna Akodaa
Togo records successful first issuance on regional debt market, for Q2 2018
For its first operation on the UMOA-Titres market in Q2 2018, Togo recorded better than expected results. Indeed, as it initially aimed to raise CFA15 billion, the public treasury successfully raised CFA17.215 billion. This represents a coverage rate of 114.77% however the treasury will retain only 15.715 billion
With this, Togo consolidates its performance on the regional market. At the end of the past quarter, the country indeed proceeded to an issuance which recorded a subscription rate of 108.59%.
The recent successes of the country mark a growing trust of investors concerning its economic potential. For example, the nation recently secured $35 million under the Millennium Challenge Account Program after Threshold program was approved.
Also, the country was recently admitted to the G20 Compact with Africa program.
Treasury should proceed to another issuance, fungible treasury bonds, next May 11.
Séna Akoda
Togo’s national social security fund launches CFA91 billion housing project
National Social Security Fund (CNSS) just launched in Lomé, the Résidence Renaissance project to build housings. Estimated cost for the project is CFA91 billion and it aims at providing medium and high standing housings, such as villas and family apartments to populations.
The project will be developed on an area of 55ha and lead to the construction of 599 housing units, knowingly 205 apartments and 394 villas, a mall, commercial buildings with offices, stores and apartment hotels.
“This project will lead to the construction, sale and use of medium and high standing housing units,” declared Ingrid Awadé, Managing Director CNSS. The project’s site is located 5km from insurance firm GTA. “It aligns with government’s plan for housing, while helping generate needed revenues for social security’s financial stability,” she added.
Let’s recall that in Togo, there is a deficit of 500,000 housing units, of which 100,000 recorded in the capital city. The project should thus help bridge this gap and attract much investment opportunities.
Séna Akoda
CEET lowers costs to connect or reconnect prepaid meters, under promotion
Togo’s power utility (CEET) started a promotion campaign throughout the country for people near low-voltage power network.
According to a credible source, the campaign will begin April 23 and end April 26, 2018. It will impact fees for connection to prepaid meters. These were scaled down by about 20%. Prepaid meters concerned Lafia 2 fils, 5 and 10 A with 25m of wire.
In effect, connection of Lafia 2 fils, 5A, 25 m wire meter, with a preload of 5kwh, will now cost 53,614 CFA against 65,542 CFA. To reconnect the latter, a sum of 33,302 CFA is now to be paid, against 40,152 CFA before.
Still in line with the promotion, connection of Lafia 2 fils, 10 A, 25m wire and 5kwh preload will now cost 61,734 CFA, against 75,692 CFA earlier. To reconnect this type of meter, users will be paying CFA41,422 from now on, compared to CFA50,302 previously.
The promotion campaign comes ahead of Togo’s 58th independence anniversary, next April 27th. CEET decided to focus on prepaid meters for this campaign because it wants to democratize the use of this equipment.
Séna Akoda
CEET lowers costs to connect or reconnect prepaid meters, under promotion
Togo’s power utility (CEET) started a promotion campaign throughout the country for people near low-voltage power network.
According to a credible source, the campaign will begin April 23 and end April 26, 2018. It will impact fees for connection to prepaid meters. These were scaled down by about 20%. Prepaid meters concerned Lafia 2 fils, 5 and 10 A with 25m of wire.
In effect, connection of Lafia 2 fils, 5A, 25 m wire meter, with a preload of 5kwh, will now cost 53,614 CFA against 65,542 CFA. To reconnect the latter, a sum of 33,302 CFA is now to be paid, against 40,152 CFA before.
Still in line with the promotion, connection of Lafia 2 fils, 10 A, 25m wire and 5kwh preload will now cost 61,734 CFA, against 75,692 CFA earlier. To reconnect this type of meter, users will be paying CFA41,422 from now on, compared to CFA50,302 previously.
The promotion campaign comes ahead of Togo’s 58th independence anniversary, next April 27th. CEET decided to focus on prepaid meters for this campaign because it wants to democratize the use of this equipment.
Séna Akoda
Togo: Total inaugurates new headquarters in Lomé
Oil major, Total, just inaugurated its new headquarters in Lomé. Present at the ceremony were Togolese trade minister, Bernadette Legzim-Balouki, and France’s ambassador to Togo, Marc Vizy.
The new infrastructure has a great hall of 167m2, a canteen and gymnasium. It will help Total expand its footprint in Togo even further, knowing that it already contributes the most, in terms of taxes, after Togocel.
According to Adrien Béchonnet, MD Total Togo, “the previous headquarters was satisfying and perfectly played its role, but most collaborators felt that it did not reflect the quality of work done at the firm and did not receive customers well enough, and partners not professionally enough”.
Meanwhile, Trade’s minister lauded the firm’s efforts to search and sell innovative products while trying to expand its retail network, for its social commitment, among others.
Leader of Togo’s lubricant market, Total Togo which has been present in the country since 1956 plans to open 6 new gas stations this year and two more next year. This would raise the actual number of its stations in Togo, to 89 and 91, in 2018 and 2019 respectively.
Fiacre E. Kakpo