Togo First
David Koffi Tsolenyanu takes office as new head of national chamber of notaries of Togo
David Koffi Tsolenyanu took office as the new head of the national chamber of notaries of Togo on Feb. 21, 2018, a statement sent to Togo First indicates.
Appointed last Feb. 16, during an elective general assembly, he will be replacing Daniel Ekoue Dosseh-Adjanon. He will lead the institution in a context where the government engaged many reforms which are yet to be respected by members of this professional body.
The chamber actually comprises 11 notaries including six committee presidents.
The same statement received by Togo First revealed that the 10th edition of the global conference of Togolese notaries (Université du notariat togolais) was postponed to April 24-26, 2018, on the recommendation of the newly composed chamber.
Fiacre E. Kakpo
Togo plans to raise CFA230 billion on WAEMU debt market throughout the rest of 2018
The government of Togo should raise another CFA230 billion on the regional financial market of the WAEMU this year, according to the provisional annual plan for issue by tender of the union’s State members.
In detail, the State plans to raise CFA40 billion in March, another CFA40 billion during Q2, CFA90 billion in Q3 and CFA60 billion in the last quarter.
So far, the government was able to raise CFA40 billion (against CFA50 billion eyed) through three bond issuances with an average coverage rate of 80%, based on data gathered by Togo First. This is over a total of CFA280 billion targeted for the fiscal year.
This amount comprises fungible treasury bills (CFA110 billion) and fungible treasury bonds (CFA170 billion).
Fiacre E. Kakpo
Togo: Business Climate Cell meets with media actors in Lomé
Starting today, Togo’s business climate cell (CCA in French) is holding a three-day meeting with various media actors. The conference will take place at the Salle Entente of CASEF in Lomé and will be themed: “Business climate in Togo: concepts, reforms and perspectives”.
In effect, organizers will introduce media actors to the various concepts and methodologies to assess the various indicators of the business climate, clearly inform them about reforms implemented by the government to improve the climate and also about existing measures that are not really known by entrepreneurs.
The meeting will thus insure appropriate communication about new measures adopted to improve business climate in the country so that both populations and assessing institutions will have access to adequate information about reforms implemented.
About 80 representatives of audiovisual media, written and online press will participate in the event.
Let’s recall that the CCA which is headed by Sandra Johnson, was established by the decree no.2017-111/PR of Sept. 29, 2017. Its role is to coordinate ministries’ efforts to insure an effective government action, but also monitor reforms’ implementation.
After the ongoing meeting, the institution and media actors will develop an effective sensitization plan regarding the various reforms.
Togo’s anti-drug office ceased an important volume of illegal detergents and fake IDs
Togo’s anti-drug and money laundering central office (OCRTIDB) has recently, during its field operations, ceased an important volume of OMO detergents as well as fake IDs which it showed the media on Feb.20, 2018.
In detail, 11.062 tons of boxed detergents which were to be sold at Lomé’s main market were ceased. According to officials from OCRTDB, a seller based in Lomé is responsible for introducing these products of questionable quality, which could negatively affect both people and clothes. “Investigation is still underway to find the culprit, or network behind this illegal trade”, the officials said while calling populations to caution.
Concerning fake IDs found, there are fake passports and national IDs from many countries.
Economic Freedom: Togo improves its openness to foreign investment and access to credit (The Heritage Foundation)
In its latest 2018 rankings on global economic freedom, Heritage Foundation ranked Togo at the 168th position worldwide and 41st in sub-Saharan Africa, with a score of 47.8/100.
While the country’s overall score slumps 5.4 points, due to issues related to fiscal health and judicial effectiveness, it recorded significant improvements in regards to investment freedom (65/100) and monetary freedom (78.5/100).
“Government openness to foreign investment is above average,” states the think tank adding that “access to credit was also improved”.
The report also highlights that government’s efforts to modernize sectors of banking, energy, transports and infrastructures have helped the country record steady growth over the past five years. This trend should be sustained.
According to Heritage Foundation, tax reliefs, reforms to simplify tax payment and those related to cross-border trade, are also major factors that will support Togo’s economy.
However, some challenges in business environment and public administration keep undermining the economy’s competitiveness thereby driving a significant part of the economic activity into the informal sector, the American foundation said.
Fiacre E. Kakpo
Nathalie Kpanté : “If I had the power to change things, I would start with Togo’s educational system… Entrepreneurship is taught since childhood”
Nathalie Kpanté, 30, entrepreneur and production head at Choco-Togo is one of many young Africans trying to change the face of the continent. After training shortly in Italy, the young woman ventured into chocolate production and is now with Choco-Togo, which has become a source of pride for Togo. She has become one of the major actors of local agribusiness. Given her status, we at Togo First decided to ask her a few questions to which she gladly responded.
Togo First: How did you come up with the “made in Togo” chocolate idea?
Nathalie Kpanté : In 2013, we took part in a training workshop in Italy, on traditional processing of cocoa into chocolate, responsible tourism, fair trade and e-commerce. When we returned, we noticed that no processing had been done since the colonial era, and that almost all our cocoa farmers knew nothing about chocolate. We then started researching and adapting processing methods we learnt during the workshop.
T.F : Don’t you think it is too risky to venture into chocolate production knowing that the population, culturally, is not an effective consumer of this product?
Nathalie Kpanté : Indeed, the risk is very high but taking risks is a quality when you are an entrepreneur.
Many people do not know about chocolate’s qualities. All chocolate products in our market are full of chemicals. Therefore, we inform people about chocolate’s qualities and then offer them products of quality.
By venturing into chocolate production, we were trying to achieve two essential goals : first, we wanted to promote agricultural entrepreneurship and self-employment of youths to reduce unemployment rate which is quite elevated in Togo. The second objective was the empowerment of young girls and women in rural areas.
In Togo, cocoa farming is practiced by families therefore all members of a family work but it is men that own the lands and collect revenues generated by the yield. In this context, women totally depend on their husbands. It is to change this that we select women from rural areas and teach them how cocoa processing is done. Currently, we are training about fifty women and dropout girls from these areas.
T.F : Could you tell us a little about the figures of Chocotogo?
Nathalie Kpanté : Since we started our activities, our turnover was about CFA16 million.
T.F : … What of your profits?
We are still installing our factory so every profit we make is used to buy equipment.
T.F : Did you benefit from any financial support?
We won some contests where monies were provided and also funding from the Agriculture Support Programme –PASA- but we have formal financial support.
T.F : Why did you decide to become an entrepreneur when most young graduates seek jobs in a hibernating market ?
I grew up around entrepreneurs. My parents, though civil servants, have always been entrepreneurs, same for my brothers and sisters. Since my childhood I was introduced to various businesses and I learnt there was no such thing as a “dirty job”. Some have to create employment for others to be employed. Why couldn’t this person be me?
T.F : What are your growth targets in the next 10 years?
In regards to growth, we want to expand our production unit, sell its products regionally and internationally, open a training center for all African youths and improve women, girls and kids’ conditions in cocoa farming areas.
T.F : If you had the power to change things today, what would your priorities be?
If I had the power to change things, I would start with Togo’s educational system. We are conditioned as job seekers. Entrepreneurship is taught since childhood. If we want to change things, we must change what we teach kids who are the “nation’s future” as it is often said.
TF : Looking at the multiple awards you got, both in the country, the continent and outside the continent, what advice could you give to your young brothers and sisters who are hesitating to become entrepreneurs ?
Nathalie Kpanté : Let every youth focus on improving their personality and skills. If one knows who he or she is, what we are capable of and are passionate about, then surely he or she can create wealth and have more impact in their society.
Interview with Fiacre Kakpo and Séna Akoda
Togo: European Union funds water tower construction at Djagblé, in the northern suburb of Lomé
In the northern suburb of Lomé, at Djablé to be precise, the construction of a new water tower is being finished. The project is part of the Water and Sanitization Programme for the rapid achievement of the Millennium Development Goals (PEA-OMD). The European Union backed the latter with a €20 million funding.
The programme aims at establishing a sustainable environment by boosting populations’ access to drinking water. It will also lead to the development of a strategic intervention framework for sanitization.
Besides, EU, via PEA-OMD, plans to finance 24 drinking water supply systems which will directly benefit some 250,000 individuals across about 30 semi-urban communities, in the maritime region.
Moreover, still under the programme, the European Union will organize workshops to boost skills of agents of the ministry of water, sanitization and rural hydraulics, in the maritime region.
Lomé to host “Gbedegbevo” fair dedicated to old patterns fabrics, starting from March 10, 2018
In Togo, the “Gbedegbevo” fair for the valorization of old patterns fabrics will open on March 10, in Lomé. According to Xinhua which disclosed the news, quoting an official source, this will be the event’s first edition.
The fair, organized by the aesthetics firm Nad Beauty, aims to “valorize and revisit the Gbedegbevo fabrics which means old patterns fabrics in Togo’s local dialect, as their worth is fading”. Most importantly, the event “aims at valorizing works of Nana Benz, the country’s biggest fabrics seller ever”.
Beside the fair, a big party, a fashion show which will be attended by major designers, will be organized.
Those behind the event also plan to put in place an exchange platform where names given to various fabrics will be explained. This will occur during the same event.
Fiacre E. Kakpo
Togo among four African nations to have improved their power infrastructures most over the past decade (WEF)
Over the past decade, Togo has gone up nine ranks in the Global Energy Architecture Performance Index report released by the World Economic Forum (WEF) and Accenture Strategy.
In Africa, the West African nation comes after Morocco (+14), Namibia (+13) and South Africa. In West Africa, it recorded the best performance in regards to the ranking, followed by Ghana which moved six spots up. In the WAEMU, Togo is the only country to have improved its ranking on the index in the past ten years.
While Senegal stagnates, Benin fell five ranks. Côte d’Ivoire also slumped, by an astounding 28 ranks.
Togo’s performance is mainly attributable to the many projects launched by the government with the support of its technical and financial partners. These include rehabilitation and improvement of power production and distribution facilities. Another factor explaining the performance is the government’s efforts to make supply of existing industries, a priority and driver of economic growth.
Let it be noted that the report states that Togo’s electrification rate remains low (31.46%). However, it positions the country among the 20 most covered nations, in terms of electricity, in Africa.
Togo eyes an electrification rate of 50% by 2020, and 90% in 2030.
Fiacre E. Kakpo
Togo: Christophe Streefkerk becomes managing director, by interim, of Saham Insurance
Christophe Streefkerk is the new Managing Director (interim) of Saham Insurance Togo. The newly appointed executive was up till now the head inspector of the Morocco-based group’s African subsidiaries.
He assumes the position following the dismissal of Magloire Dochamou, subsequent to an investigation within the Togolese branch of Saham. Details regarding the investigation were not provided.
Between October 2007 and September 2011, Christophe Streefkerk headed in Burkina Faso the insurance firm IARD, a subsidiary of Colina group which happens to be responsible for the establishment of Saham Insurance Togo.
Let’s recall that according to Atlas Magazine, Saham Insurance Togo is the country’s second largest non-life insurer with an estimated turnover of CFA7.17 billion and a 25.19% market share, in 2015.
Fiacre E. Kakpo