Saham Assurance Togo, subsidiary of Moroccan group Saham, dethroned Ivorian NSIA, as the first non-life insurer operating in Togo, in terms of turnover, Financial Afrik reported.   

Indeed, last year, Saham recorded a turnover of 8.55 billion CFA, a 16% increase compared to 7.37 billion in 2016. For its part, NSIA recorded a turnover of 7.68 billion CFA in 2017 (+3% compared to 2016’s result: 7.45 billion CFA).

With its recent performance, the insurer captured 25% of Togo’s non-life insurance market while the runner-up got 22.5% of this market. They are followed by Sunu Assurance (15%), GTA-C2A (14%) and Ogar Assurance (10%).  

As at December 31, 2017, Togo’s non-life insurance market recorded an overall turnover of 34.05 billion CFA, as against 29.68 billion in 2016, thus an increase by 14.7%.

Fiacre E. Kakpo

In Togo, the team in charge of the Project to Boost Youth Employment (PAEIJ-SP) launched a call for proposals targeting the regions of Kara and the Savannas, in the North.

The call aims at picking 400 individual entrepreneurs able to develop projects in agro-industrial clusters established under the PAIEJ-SP.

Eligible projects are related to husbandry and animal production, with a focus on chicken, guinea fowls, ovine (sheep, rams) and caprine (goats).

To be eligible, one must be Togolese, aged between 18 and 45, having reached at least JHS 3 for men, and having at least completed the Primary School certificate (CEP) for women.

Application forms can be obtained at any ICAT agency in the prefectures of Dankpen, Bassar and Kozah, within the region of Kara; and in the prefectures of Oti, Tandjoare, Cinkassé, Tone, Kpindjale, in the Savannas. Also, some are available at the regional offices of the National Agency for Grassroots Development (ANADEB) in Kara, and Dapaong, and at the head office of PAEIJ-SP.

Submission can be done by hand only and will end June 8, 2018. Projects submitted will then be assessed by the Evaluation Regional Committees put in place for this purpose. “Only applicants with the best profiles having passed the evaluation test will be selected”. Selected projects will be carried out in specific prefectures.

PAIEJ-SEP is co-financed by the AfDB and the Togolese government. It aims to reduce youth unemployment by creating agricultural value chains and agro-industrial clusters.

Fiacre E. Kakpo

Since March 2018, about 600 limited liability companies (LLCs) were established by private deed, in Togo, according to a Business Climate Cell’s memo. This represents 85% out of a total of 704 LLCs established in Q2 2018, the document reveals.

This helped economic operators save CFA175,000 average while establishing their firm. Compared to Q2 2017 when 312 firms were established this way, the recent performance is significantly better (+92%), and it was driven by the various tax incentives implemented under the 2018 finance bill alongside an improved business environment.

Meanwhile, the number of new LLCs established by notarial deeds in Q2 2018 was 105 (15% of total number of LLCs created over the period). In 2017, this number represented 23% of established LLCs (96 out of 408).

According to data from the Centre of Business Formalities (CFE), throughout 2017, a total of 1767 firms were established; out of this, 1339 were established by private deed. The performance comfort the government’s decision to adopt the corresponding reform in 2014.

Fiacre E. Kakpo

ASKY, The Pan African Airline, is pleased to announce the start of daily flights between LOME, ABIDJAN, ACCRA and LAGOS from June 15, 2018 according to the schedule below in UTC:

Schedule for LOMÉ-ABIDJAN-ACCRA v.v

Schedule for ACCRA -ABIDJAN- LOMÉ v.v

Schedule for ACCRA-LAGOS-ACCRA v.v

These new routes offer more capacity and flexibility with a significant reduction in flight time between Abidjan, Accra and Lagos with the whole ASKY network. Noted that these flights will be operated in Boeing 737-700.

About ASKY

ASKY is the pan-African airline that was created by regional institutions: the Bank for Investment and Development (EBID), the West African Development Bank (BOAD) and the ECOBANK Group. ASKY is a commercial company under private law and managed by experienced professionals from Africa. ASKY the Pan African airline currently operates a fleet of 8 New Generation aircrafts, one (1) Boeing 737 – 800, three (5) Boeing 737-700 and two (2) Dash Q-400. ASKY now serves twenty-tree (23) cities in nineteen (19) countries on the African continent.

From July 27 to August 6, 2018, Togolese entrepreneurs will be at the Centre Togolais des Expositions et Foires (CETEF), in Lomé, for the third edition of the “Made in Togo” fair.

On this occasion, entrepreneurs, producers and artisans from Togo will be able to showcase their work, and themselves also. This is to boost consumption of local products.  

In this regard, sales of products will take place on site while participants build networks therefore establishing sustainable business relations.

The fair is unique as it promotes solely local products. It will gather about 100 exhibitors and business owners operating in the various sectors of the economy.

Séna Akoda

The Bourse Régionale des Valeurs Mobilières (BRVM) listed last Friday Togo’s 2018-2023 6.90% TPTG bond.

Issued between December 20, 2017 and January 20, 2018, the transaction arranged by Sogebourse, and Socété Générale Togo. It helped Togo raise nearly 61.8 billion CFA, while it initially aimed for 60 billion. This represents a 103% coverage rate. According to the government, the funds will be used to clear most of its internal debt, in line with agenda set with the International Monetary Fund (IMF).

With this bond, Togo has secured CFA314.18 billion, including 156 billion as Sukuk, on the regional market, since 2006.

Subsequently, the country becomes the fourth largest issuer of WAEMU, after Côte d’Ivoire, Senegal and Burkina Faso, thus reflecting investors’ trust in its economic and financial policies.

This first listing will make more attractive and boost liquidity of Togo’s bonds on BRVM’s secondary market, and grant a good issuer profile on the Abidjan-based stock market. Actually, Togolese minister of finance, Sani Yaya announced a second bond issuance during this year.

“Togo’s government will keep taking advantage of the opportunity offered by the regional market by issuing more public securities,” the official said. “I would like to announce that we plan another issuance this year, still to improve public finances and clear debt, in order to boost the economy,” he added.

Fiacre E. Kakpo

In Togo, the Initiative for Better Transparency and Governance in Extractive Industries (ITIE), via its technical secretary, has made some recommendations to improve the industries’ performance.

The secretary suggested automatic release of relevant data to let people properly interpret those, hence initiate appropriate talks, when needed. Though this is already done with declarations made at the Togolese Revenue Office (OTR), the next step is to formalize information system at all offices in charge of  the extractive sector. Also, these offices should be connected to related government services. This should be done in the second half of 2018, said Kokou Agdemadon, coordinator of ITIE’s technical secretary.

Next, regarding commodities trade, reliable mechanisms should be implemented to enable the State to rationally monitor these commodities, from production stage to end-users. This should help the government better control the cost of these products in the global market, with a new data system. Togo would be able to set their prices on a daily basis.

The last recommendation has to do with the publication of details related to firms’ ownership. ITIE’s service said measures are already taken, in this framework, to ensure that the real names of firms’ owners are released by January 1, 2020.

However, the State should first legally define real property, set a mechanism of identification of real owners of firms, among others.

Séna Akoda

On the sidelines of the 58th anniversary of Togo, President Faure Essozimna Gnassingbé launched the Togo Incentive-Based Risk Sharing System for Agricultural Lending (TIRSAL). This is a project aiming to boost agriculture and agro-industry. It will help producers and entrepreneurs to secure funds from banks, which so far had been reluctant to do so.

In this framework, the government launched a call to tender, which can be accessed here.

Offers available are: Managing Director ; Administrative and Financial Director ; Partnership Director (partnership for development of agricultural value chains and government entities) ; Head of market systems for value chains ; head of procurements provision ; Head of Marketing and Communication.

Interested candidates must send their CV as well as a motivation letter to the following addresses, latest by May 30, 2018: This email address is being protected from spambots. You need JavaScript enabled to view it. ; This email address is being protected from spambots. You need JavaScript enabled to view it. and This email address is being protected from spambots. You need JavaScript enabled to view it. 

Togo still has much to do regarding property transfer, according to the Doing Business. This indicator, holds a significant place in the various reforms that the country started implementing since the beginning of the year to improve its land management. This include reducing delay and fees for land registration, creating a special office, among others. The measures were lauded by the AfDB in its latest outlook on African economies who said property transfer, alone, could drive private investment up by a two-figure digit, over the next two years. 

Agreeing with the projections, the Millennium Challenge Corporation (MCC) approved a $35 million threshold program to support the land sector in Togo.

A 10% annual growth, that is AfDB’s forecast for investment in Togo. However, the national directorate in charge of land affairs and cadaster aims higher. In this interview, the head of the institution, which is attached to the Togolese Revenue Office (OTR) provides an overview of the land sector, with its challenges and forecasts.

Togo First : In its 2016 African economic outlook report, the African Development Bank (AfDB) said Togo’s land tenure system is the slowest of Africa. What is being done to change this situation ?

Abby Toyi (AT) : Truth is, in 2016, it took 21 days to complete property transfer process. This said, we cannot be told it is the slowest! It might even be one of the best record given that in some countries it takes as long as 90 days. However, I agree that registration can take up to 283 days, but what the Doing Business looks at is property transfer, not registration. And in this regard, in January 2018, property transfer took 9 days average. This duration might increase throughout the other months of the year. It could take up to 15 days. Some time ago, it was indeed slow due because we were moving to a different location.

Togo First : Sure, but what measures were concretely implemented to help shorten this delay ?

AT : We had a staff issue but now DADC has enough staff members. We also did not have equipment to proceed to demarcation, but this also was fixed. As a result we started dematerializing processes, scanning about 97% of land titles. This made it easier to access information on a specific land. Throughout the process, government supported us and now we even have a single desk dedicated to property transfer, solely.

After dematerializing already existing titles, we plan to make new ones digitally, with electronic signatures. This will bring about a true revolution. It was in this framework that we were attached to OTR.

This year, we aim to reduce property transfer delay to 15 days and to become in Africa the best country in that regard, after Rwanda, by 2020.

Togo First : In the 2018 African economic outlook report, AfDB said accelerating property transfer process could boost private investment. What do you think of this statement ?

AT : It is true. I believe it will boost private investment and we are encouraging firms in that direction. For example, the current State budget, on the President’s initiative, was designed in such a way that the fee required to create a firm costs almost nothing. Moreover, he (the President) decided to set aside 20% of public procurements for young people and women.

Beside, lenders and investors trust properties, as guarantees, more when they have a deed. Yes, I truly believe this reform would boost private investment. In fact, I think private investment could grow by 20% annually, twice what AfDB forecast, with property transfer process accelerated. Given our current pace, in two or three years, we will become the reference.

Togo First : Many countries are organizing themselves to tackle agricultural land speculation and grabbing. Côte d’Ivoire for example guaranteed the exclusive right to own agricultural lands to its citizens. Does Togo plan any similar reform?

AT : Togo was actually the first State to protect its real estate assets and ownership rights of its citizens. And now, other countries are taking a leaf out of our book. After becoming an independent country on April 27, 1960, a law was passed on August 5, the same year, to protect Togolese land rights. The concept of prior approval for transfer falls under this bill. It refers to the need for a citizen wishing to sell his or her property to a foreigner to get State’s approval beforehand. This is to protect the seller from eventually ending up being stripped from his or her assets. It we hadn’t done so, Togo might have not been what it is today. Take for example the Volta Region; once it was part of Togo but part was taken by Ghana and the other by Benin.

So, before any land is purchased by a foreigner, the Prime Minister must give his approval. In the past, this was done by the President. This is to tell you that we already have a good system to protect citizens’ property rights.

 Togo First : To date, what are your relations with notaries now that newly introduced reforms are restricting their leeway ?

AT : We are have good relations with them. We met with them every time we faced a given challenge. We discuss this issue with them and try to find appropriate solutions. At first, it was not so but we were able to change that overtime. I would like on this note to thank those that helped us achieve this; especially the previous bureau of notaries for the lobbying it did. They are the one that helped us. In the past, most claimed DADC was not doing its job. But when they came, they noticed we lacked means. We had to go through a lot of workshops before gaining back the people’s trust, even if some still complain. We asked those to provide more details about their complaints.

We had sent a mail to the president of the order of the Chambre des Notaires to which we attached a list of cases notaries estimate are being delayed. It is true that we come across various issues but most of the time the fault is not ours. Take for example a case where someone, not its rightful owner, sells a given property. At our level, we still have the property registered in the name of the initial owner since he was not the one sell the property. The thing is, one cannot sell a property that is not his, even if that person is the son of the rightful owner, in the event this one dies. Succession should be first done in a proper manner. Under no circumstances should an individual sell what is not his. Yet, that is often the issue with our friends (ed. note: notaries). These are the kind of cases that are delayed and cause people to believe we do not do our work properly. In the past, it would cause much trouble but now we exchange on such matters and solve them out. Beside this, we are in good terms. If we, at DADC have an issue, we call notaries and they help us out. We also help them out when they are in need.

Togo First : Regarding rural areas, what are the challenges they face currently ?

AT : There are a lot of issues in rural areas. First, they are not demarcated or registered. It is a major issue. If those were done, each and every one would know its limits. However, even owners do not have a clear idea of their land’s acreage. In this case, any person around can take over part of your land. Land demarcation and registration prevent this. We were told of a story that occurred near Tsévié: one day, a man came to a farmer and offered to buy his lands; not knowing the boundaries of his property, the farmer would sell the man lands every time he would come. Finally, the buyer came to demarcate the whole village, since he had purchased it all. You see? Right there, that is ignorance. People do not seek information. Meanwhile, rural areas, especially those around main cities, are much coveted. Everyone wants some by anticipation, since our laws are quite liberal. Properties are sold or used recklessly. Unfortunately, this profits only the most cunning buyers, which often acquire properties cheaply to later sell them at a higher price. They buy a lot and often villagers are left with no choice. These are issues that almost all African communities have to deal with. These lands can be valorized; but they must be delineated to allow lenders and youths desiring to exploit them, to do so easily.

The second issue is the dichotomy of modern and customary laws. When conflicts arise, decisions are not always the same, and this brings about a major problem.

Third issue. Women in rural areas do not have access to lands even if they are the ones that work on these lands mostly. I believe this is a very serious concern… It is true that we have laws in place preserving women’s access to lands. Sadly, these laws are not known by many, I would assume, looking at the current situation.

Togo First : You talked about issues related to cadaster. What are you actually doing to overcome this challenge?

AT : It was in order to overcome this issue that we have been attached to OTR. We have designed a plan for this purpose since 2012. It includes various steps. First, we planned to establish a cadaster for Togo’s eight main cities, namely : Lomé, Aného, Kpalimé, Tsévié, Atakpamé, Sokodé, Kara, Dapaong and its surroundings. In 2012, we submitted this plan to our leaders. However, we did not get any funds to finance this project, since focus seems to be on other priorities. If we could get financing for the project, we would establish a cadaster for the whole territory.

Fortunately, we found our first partner which is the Millennium Challenge Corporation Threshold program (ed. Note: recently approved). Hence, we picked seven prefectures across each of Togo’s regions that will be covered by the cadaster project, before extending it to other parts of the country. Once this is done, MCC’s Compact (ed. Note : more important than the Threshold program) will cover expenses for the rest of the operation. That is what we hope.

Togo First : Over the next decade, what do you estimate will be the main challenges to achieving sustainable land management in Togo ?

AT : The first challenge will be to establish a full cadaster for the whole territory. Fortunately, we now have access to the latest technologies and if we would done it all. Indeed, we have already mapped the whole country, but what we lack are details about who owns which land and who does not. This would reduce land conflicts considerably. It would also solve issues related to delays and high costs. So that is it, our first challenge is having a complete cadaster.

Togo First : What about geographic information systems (GIS) ?

AT : A geographic system stores all types of geographical data in a given country ; it is not the same as a cadaster. A cadaster goes into details and obviously it is complementary with GIS. Without a cadaster, we will not be able to successfully develop agropoles, and subsequently boost our agricultural sector. This is why we had our whole system digitized and interconnected. For example, offices in Dapaong should not have to wait before getting data from this side. It must be immediate. They should be able to issue land titles in situ. That is what we have to overcome. 

Interview by Fiacre E. Kakpo