International Business Bank (IBB), former Banque de l’Habitat du Burkina Faso will enter the Togolese market, and others in the sub-region, in line with its expansion strategy.

The bank’s interest in Togo could be explained by the recent improvements in the country’s business environment. Indeed, many African and global firms have come to the country, thus making its banking sector more competitive.

Raphaël Bankou, IBB’s managing director, said that the lender will in Togo intervene in the retail banking and housing finance sectors. Leveraging its relay equipment and latest generation facilities, IBB “will offer its customers the best banking services and aims to become a major player, preferred by business operators.”

Let’s recall that the group’s majority stakeholder (51%), Mahamadou Bonkoungou, who leads Burkina Faso’s construction sector, already operates in Togo, in the construction sector. 

Séna Akoda

Motor vehicles are now taxed in Togo. This tax which was part of the former tax code was amended and reintegrated into the new tax regime, Togo’s Revenue Office (OTR) confirmed last Wednesday.

In detail, 85% of the tax proceeds will go to the country’s autonomous road maintenance financing company (SAFER). This tax is imposed on cars, trucks, mini-trucks, road tractors as well bikes of more than 125cc.

Diplomatic vehicles, army vehicles, police vehicles, firefighter trucks and ambulances are not to pay this tax. Transiting vehicles, those used for farming purposes, and bikes of less than 125cc will also not have to pay this tax.

The tax is to be paid once a year. The vignette’s amount varies from CFA10,000 for five horse vehicles to CFA130,000 for trucks weighing more than 12 tons. For bikes of more than 125cc, the vignette costs CFA15,000.

While bike owners have to pay once (upon registration), other vehicles will pay the first year on the registration, and during technical visits every following year.

For vehicles purchased this year, the tax will be calculated on a prorata temporis basis. “If you pay your taxes, you must put the vignette on your vehicle so that it can be checked,” said Adoyi Essowavana, tax commissioner.

Fiacre E. Kakpo

From 16 digits, account numbers of Ecobank Togo’s customers have now been reduced to 12 digits. However, old account numbers are still valid for the moment but no information filtered about until when.

The change was made in the framework of upgrading of the bank’s systems, to make their “services more efficient”.

Starting next March 1, 2019, the identification number of the client needed to access their monthly electronic account statement will include the first nine digits of the account number.

The new measures also concern those using online banking services and the Ecobank mobile app. Besides the previously mentionned measures, nothing really changed.

Séna Akoda

Philippe Kokou Tchodie, previously in charge of General Services, is the new general commissioner of the Togolese Revenue Office (OTR). He was appointed by decree on February 20, 2019, following a ministers’ council in Lomé. 

The new commissioner general replaced Kodjo Sevon-Tepe Adedze, recently appointed minister of trade, transport, industry, private sector development and local consumption promotion.

Moreover, Atta-Kakra Essien, previously Head of regional customs operations, is now head commissioner of the customs and indirect taxation.

The two promoted will, alongside Adovi Essowavana, Tax commissioner, pursue efforts started since 2014 to modernize the OTR and improve revenue collection.

Fiacre E. Kakpo

Seven billion CFA. That was the sum paid by the Togolese government to the country’s power utility (CEET) in 2018 as part of arrears valued at nine billion. The information was disclosed by Togo’s energy director, Abas Aboulaye.

The arrears were accumulated as a result of populations not paying their bills regularly. To reverse this trend and reorganize public lighting maintenance, the inter-ministerial committee in charge of public lighting debt was in Dapaong, in the Savanes region, to meet with representatives of local collectivities.

Next regions to be visited by the committee are Kara, Sokodé, Atakpamé and Lomé.

Séna Akoda

Next June, on the 13th and 14th, Lomé will host the first Togo-EU economic forum. The event will gather 400 participants and its theme will be : “Building sustainable economic relations between Togo and the European Union.”  

During a press conference held in preparation of the forum, Togo’s state secretary and coordinator of the country’s business climate cell, Sandra Ablamba Johnson, said the event aims at developing a top business and exchange platform for local investors and those from the 27 European Union countries.

“This would help build partnership relations, attract investment in Togo and create wealth,” Johnson added.

During the forum, Togolese officials will showcase the country’s national development plan (PND) to western investors, as well as investment opportunities that Togo has to offer, and its emerging and key sectors, added Kodzo Adedze, minister of private sector.

In detail, 150 European businessmen and women, 150 local investors and 100 executives should attend the forum. Economic operators will pay to attend, Sandra Johnson highlighted.

Togo hopes to use the forum to attract a substantial part of CFA3000 billion expected from private sector for the PND’s implementation.

Séna Akoda

At Q4 2018, Moov Togo had more than 3.4 million active users.

According to Maroc Telecom, the parent company of the operator, which disclosed the figure last Monday in its annual financial report, this represents a 15.7% increase of its pool of active users. In effect, Moov Togo won more than 500,000 subscribers over the year that just ended.

While Maroc Telecom did not provide details about its African subsidiaries, it indicated that globally, its growth was driven by data, despite new taxes imposed in some countries where it operates.

Back to Togo, in 2018, the Moroccan group acquired in the country for Moov a 4G licence and renewed 2G and 3G licenses. 

Maroc Telecom ended the 2018 financial year with a turnover of more than CFA2,190 billion, up by 3.1% compared to 2017. The surge was spurred by a significant increase of customer base, to 61 million users (+6.5%). Operational result and net result also rose by 4.1% and 5.3%, respectively. 

Subsidiaries of Maroc Telecom include Mauritel, Onatel, Gabon Télécom, Sotelma and Casanet, and new African subsidiaries in Côte d’Ivoire, Benin, Togo, Niger and Central Africa, acquired since Jan 26, 2015. 

Let it be noted that active users include prepaid customers, who have made or received a call (excluding those from the concerned ERPT or Customer Care Centres), sent an SMS/MMS or used data services (excluding exchanges with the concerned ERPT network), in the past three months ; as well as post-paid customers that were not cancelled.  

Fiacre E. Kakpo