Togo First
Togo: Keras secures approval to ship 10,000t manganese ore bulk sample
AIM-listed mining firm Keras Resources has secured the approval of theTogolese government to export a 10,000 ton bulk sample of its manganese production of Nayega.
“I am delighted to announce that we have completed the bulk sample and received all the required authorisations to begin shipping for metallurgical testwork at the third-party ferromanganese smelter facility. The shipping is the final part of the bulk sampling process which has proven the robust economics of the Nayega project,” said Keras CEO, Russell Lamming.
Output from the bulk sampling, which started last August, was sent to a secure warehouse near the port of Lomé, awaiting shipment in mid-March by the end-user. The latter, whose name was kept in the dark, is a major manganese-base alloy producer, the British firm indicated. This alloy producer will, upon reception of the sample, assess its quality at their smelters. Let it also be emphasized that “the bulk sample, including equipment, operating and logistics costs as well as management fees is fully funded by the end-user.”
Keras is active on the Nayega project via its subsidiary Société Générale des Mines SARL (SGM), in which it detains an 85% stake. In West Africa, Togo especially, the firm focuses on manganese, cobalt and nickel projects.
For ECOWAS and WAEMU commissions, establishing AfCFTA could negatively impact West Africa, unless…
Establishing the African Continental Free Trade Area (AfCFTA) could be detrimental to West African integration if all countries in this region fail to sign and ratify the related agreement. This was a concern expressed by the heads of the ECOWAS and WAEMU commissions during the two institutions’ latest joint meeting, on March 8th 2019.
To date, only eight countries in West Africa, including Togo, have inked and ratified the document. Nigeria is one of the nations that is yet to do so, as its President abstains, waiting for talks with the local private sector to end.
Meanwhile, in Togo, deputies, journalists, and others are being sensitized about this agreement’s benefits for the country.
Let’s recall that so far, 18 countries have ratified the agreement and at least four more should join if it is to come into force.
Séna Akoda
Togo: Prefectures of Golfe and Agoè-Nyivé, in the South, adopt CFA9 billion budget for 2019
In Togo, the Golfe and Agoè-Nyivé prefectures adopted a budget of about CFA9 billion for 2019, up 0.25% compared to the past year.
This budget entails two main components which are operations and investments. The second concerns development projects in the prefectures, including construction of public buildings in townships, as well six bridges.
Let’s recall that overall, the country fixed its budget for 2019 at CFA1,461 billion.
Also, Agoè-Nyivé is one of the four new prefectures established in Togo since May 2016, under an administrative restructuring process which brought the country’s number of prefectures to 39.
Ayi Renaud Dossavi
Togo gets $15M financing from Khalifa fund for its SMEs and SMIs
Togo just signed with the Khalifa Fund for Enterprise Development, in Abu Dhabi, a $15 million (CFA8.7 billion) financing agreement. The facility will be used to support micro, small and medium enterprises in the country.
The agreement was signed, in the United Arab Emirates, by the chairman of Khalifa Fund, Hussain Jasim Al Nowais, and Togo’s minister of economy and finance, Sani Yaya; in the presence of Abu Dhabi’s Crown prince Mohammed bin Zayed and Togo’s president, Faure Gnassingbé.
The Togolese leader, let’s emphasize, is currently in the UAE for a work visit. During his stay, President Gnassigbé will meet various political figures and visit facilities such Abu Dhabi Global Financial and the Khalifa Industrial Zone (KIZAD).
WAMU States to study adoption of a uniform act on factoring across the regional community
Next Wednesday, the Central Bank of West African States (BCEAO) will hold a regional meeting on the uniform act on factoring across State members of the West African Monetary Union (WAMU).
Factoring is a form of financing that helps companies with cash flow problems due to slow-paying clients. It allows a company sell its debt or invoices to a specialized entity or factor at a discount. The factor hence handles client payments, follow-up, debt collection, and eventually supports non-payment risks.
The upcoming meeting falls in line with actions taken by the WAMU to develop various tools to finance economic activities, and SMEs in particular, the BCEAO said.
Participants are expected to assess the uniform act’s pertinence and coherence as well as think of a way to extend factoring to lending institutions. Representatives of ministries of finance, WAMU’s lending institutions, BCEAO’s partners and representatives of BOAD and OHADA are expected at the event.
Séna Akoda
AfDB and FAO grant Togo a million dollars to fight fall armyworm invasion
The African Development Bank (AfDB) and the United Nations Food and Agriculture Organization (FAO) granted Togo a million dollars to better fight the fall armyworm invasion to which it is presently exposed.
“Togo, like many African nations suffers an invasion of fall armyworm,” says George Bohoussou, acting country head of AfDB in Togo. Statistics show that during the 2018-19 agricultural campaign, 53% of maize fields (160,581.5 hectares) were under the insect’s attack.
However, many efforts were made to mitigate the invasion’s consequences. For example, “since 2017, the government spent more than 177 million CFA to purchase insecticides, phytosanitary treatment equipment and protection equipment which were distributed freely to the invasion’s victims.” This was declared by Sani Yaya, Togo’s minister of economy and finance.
The loan now provided by AfDB and FAO will help support these efforts. It comes in a context where the “State needs $3,2M or nearly CFA1.9 billion for its five-year strategy to fight the pest,” the minister said.
This plague could destroy 13.5 million metric tons of maize across 14 African countries, thus more than 20% of their total output.
PND 2018-2022 : Faure Gnassingbé visits the United Arab Emirates
President Faure Gnassingbé is currently in the United Arab Emirates (UAE). This visit aims at reinforcing the Abu Dhabi-Lomé partnership and attracting investments for Togo’s 2018-2022 national development plan.
During his trip, the Togolese leader will meet with Abu Dhabi’s Crown prince Mohamed bin Zayed Al Nayan, and Mohammed bin Rachid Al Maktoum, Vice President and Prime Minister of the UAE, as well as ruler of the Emirate of Dubai.
Gnassingbé will also visit Abu Dhabi Global Financial, the Khalifa Industrial Zone (KIZAD), as well as some warehouses and factories. This visit should end with “the signing of multiple contracts to implement the 2018-2022 PND.”
Last September, the Togolese President was in China, also to showcase the PND and attract foreign investments. In effect, the strategy will require more than $8 billon, 65% of which is to come from the private sector, and aims at making Togo a regional logistics hub and first-class business centre.
Gabon to take a leaf out of Togo’s book to accelerate its financial inclusion
A Gabonese delegation was in Togo for the first intra-African Conference for Social Security (CIPRES). This delegation came to learn more about Togo’s model in terms of financial inclusion, about its national fund for inclusive finance (FNFI) to be exact.
“We have been told that Togo’s model is better than ours and thus deemed it useful to meet Togolese authorities during this conference to tell us more about this model,” declared Ndoutoume Ngome Jonathan, Gabon’s deputy minister of health.
On the Togolese side, the country’s state secretary in charge of financial inclusion, Mazamaesso Assih, who was leading the Togolese delegation at the forum, lauded the meeting which helps “take note of progress made by Togo in terms of investment support.”
The two countries plan to further their cooperation in relation to financial inclusion with Gabonese technicians and experts coming to Togo for training programs.
The FNFI was launched in 2014 to improve rural people’s access to small loans. The Fund is headed by Mazamaesso Assih
Ayi Renaud Dossavi
Togo : A mobile-based solution to improve access to clean water in rural areas
Soon, a mobile-based service will allow Togo’s population to a have continuous access to drinking water. This solution was developed under SOFIE, a program aimed at enabling populations to rapidly signal any failure of water wells. This would in turn ensure a better management of the wells.
In this regard, the government has put in place with its development partners, a large program for the installation of wells and boreholes. In effect, more than seven thousand pump boreholes and 305 supply systems were installed under the program.
However, failures at the installations were not rapidly reported, as a result they would stay months non-operational, thus explaining the need for SOFIE.
Séna Akoda
Togo plans to acquire 300 mini-grids, among others, to achieve universal access to power by 2030
By 2030, Togo plans to acquire 300 mini-grids, in the framework of its rural electrification program.
So far, four of the mini-grids have been installed. The solar systems will, according to reliable sources, help the country achieve universal access to power by 2030.
Other initiatives aligning with this goal include the CIZO presidential scheme. The latter has already provided access to power, via solar kits, to more than 10,000 households.
Also, four 30MW solar plants should be built by 2025. The government also plans to build three new hydropower dams; one in Sarakawa, another in Kéran, and the last’s location is yet to be decided.
In the meantime, rehabilitation works at the Nangbéto dam are projected and they should last till 2022. The project aims at extending the plant’s lifeline by 30 years. The Nangbéto dam was installed by the Communauté Electrique du Bénin to provide energy to Togo and Benin.
Séna Akoda