Togo First
Nana Akufo-Addo in Lomé to facilitate inter-Togolese political dialogue
Ghana’s President, Nana Akufo-Addo, has arrived in Lomé this Monday. There, he will act as facilitator in the framework of the inter-Togolese dialogue to end the political crisis currently recorded in Togo.
The dialogue will last ten days and political actors will try to reach a peaceful solution to this crisis, which began more than six months ago.
The meeting is the concretization of a preliminary agreement signed by the opposition and the leading parties. Atcholi Aklesso, executive secretary of the leading party (Union pour la République) and Eric Dupuy, head of communication of Alliance Nationale pour le Changement (ANC), main opposition party, signed the agreement.
Among various topics that will be discussed during the dialogue are measures for appeasement and trust, the inclusive aspect of the meeting, constitutional reforms, electoral reforms, humanitarian situation and rule of law, or implementation and monitoring mechanism.
In Togo, 60% of large companies hide their profits to avoid paying taxes
In Togo, collection of tax and custom revenues poses a real challenge to authorities. Meanwhile, the IMF said it is vital for the country to remedy this and improve tax collection.
A tax commissioner in a press briefing last Thursday said 60% of big companies declare losses rather than profits, to avoid paying corporate tax. This causes substantial losses for the State whose deficit already widened in 2012-2016. The latter is due to the many investments made to support the economy.
To tackle tax evasion and other challenges crippling tax collection in the country, the general tax code was amended under the 2018 finance law. In fact, reforms initiated by the government in this regard are among others related to corporate tax and minimum tax rate, which is paid by those exempted from corporate tax if the reference year ends with negative results or when minimum tax rate exceeds corporate tax.
In details, minimum tax rate now equals 1% of a firm’s turnover. In the past however, it was CFA500,000 for firms whose corporate tax was below that sum.
With this, Togo respects standards set by OECD in terms of tax transparency.
In 2017, tax revenues in Togo represented more than 22% of its GDP.
Fiacre E. Kakpo
President Gnassingbé commissions new pharmaceutical plant
On Feb. 16, 2018, Togo’s President inaugurated a pharmaceutical factory where intravenous fluids will be produced.
The DO PHARMA plant, as it is named, is the first of its kind in French-Speaking West Africa. It is situated at Aveta, in Lomé.
According to Frédéric Dovi Akué, Managing Director of the firm, the decision to set up this facility in the country was due to the fact that “the region highly depends on imports for drugs”. “A situation that does not favor economies”, he indicated.
Another issue is delays in supply. To tackle these, “it is crucial that we produce quality drugs locally”, M. Akué said.
The new pharmaceutical factory has a production capacity of 3,000 bottles per hour. It will facilitate the populations’ access to quality and affordable drugs.
Togo: After nickel, TFC is now interested in phosphate
Togo’s phosphate sector welcomes a new actor, in line with the government’s efforts to boost the sector’s performance. The firm, according to Africa Intelligence’s confidential newsletter which revealed the information, is the local firm TFC.
According to the news website which provides confidential news on developments that impact the African economy, TFC has recently secured three exploration licenses for phosphate in Kara, northern Togo. The firm, let’s recall, had acquired last August other three exploration permits, namely the Haïto I, Haïto II and Kpatégan permits for nickel, cobalt, copper, chromite, platinum and gold.
Still in order to boost the phosphate sector, Togo’s minister of mining and energy, Dèdèriwè Abli-Bidamon, would meet with senior executives of Israeli group Elenilto, in Lomé or Europe, to review the Kpémé phosphate carbonate project which is located 30km from the Lomé port.
In September 2015, we may recall, Elenilto and its partner Wengfu won the international call to tenders for the Kpémé deposit, which is one the largest in all of Africa. In this framework, the firms were to produce every year, five million tons of phosphate fertilizers and phosphoric acid.
In Togo, phosphate remains the main driver of the mining industry. The country, with its large deposits, is the world’s fourth biggest producer of the ore.
Fiacre E. Kakpo
Togo: Microfinance sector showed positive indicators at the end of september 2017
In its latest report on microfinance within the WAEMU, the Central Bank of West African States (CBWAS) said the sector in Togo is recording good performances, reflecting a greater financial inclusion of populations.
In details, the document states that at September 30, 2017, outstanding deposits collected by microfinance institutions in Togo, from households mainly, soared by 8.1% year-to-year. Corresponding amount ranges between CFA150 billion and CFA200 billion.
Regarding outstanding loans provided by decentralized financial systems (DFS) in the country, they grew by 7.4%.
It is important to note that despite the many improvements recorded in the microfinance sector in Togo, there is still room for improvement. Indeed, according to the report, out of the seven microfinance institutions found in difficulty at the third quarter of 2017, three were Togolese.
Now, in the whole union, deposits collected by microfinance institutions stood at CFA1,224.5 billion at the latter part of September 2017 against CFA1,061.7 billion at the latter part of September 2016, thus an increment of 15.3%. As for outstanding loans, they grew by 17.9% over the period to stand at CFA1,220.1 billion at the end of September 2017. Meanwhile, the number of people benefiting from services offered by microfinance institutions also rose by about a million to reach 14.3 million.
Fiacre E. Kakpo
Call to tenders, on government’s measure to provide youths and women 20% of public procurements, will be sectorized
The measure announced by government for the provision of 20% public procurements to youths and women in Togo will be sector-based. This was revealed on Feb.14, 2018, by Zouréhatou Kassah-Traoré, managing director at the National Directorate for Public Procurement Control. This occured on the sidelines of the Mercredi de l’Entrepreneur (Entrepreneur’s Wednesday), a meeting where practical modalities were debated for the measure’s implementation.
“Call to tenders launched in a specific area will be accessible only to young applicants from this area”, explained the official.
In this regard, three areas were determined: Area 1 for entrepreneurs living in Lomé and surroundings, Area 2 for those living between Tsévié and Blitta and Area 3 for those between Sotouboua and Cinkassé.
For youths and women interested, the following platform was created to inform and also provide them with a registration form to benefit from the initiative : pjfe.dncmp-togo.com
Togo: Government wants private sector to contribute at least 40% of investments in digital sector, by 2020
In line with its goal to make the country a logistics, financial and digital hub, the government of Togo plans to engage private sector more into digital development.
This is revealed in the government’s 2018-2022 strategic vision for digital sector. According to the document, the government wishes for private sector to contribute at least 40% of investment made in the sector starting from 2020.
The strategy revolves around four main axis which also will focus on 66 key projects, to which government expects private sector to greatly contribute.
The above-mentioned projects include: deploying 3G, 4G and satellite technologies, creating a digital platform to process applications for works on telecom infrastructures, or equipping broadcasting centers for DTT. In addition, a geographic information system (GIS) covering all network infrastructures should be developed and other projects that are likely to boost Togo’s digital economy.
All these projects should, under the government’s predictions, help provide access to broadband internet to 90% of population and 95% of companies in Togo, by 2022.
Fiacre E. Kakpo
In Togo, 80,000 households and microenterprises will benefit from Power Sector Investment and Reform Project
In Togo, the Power Sector Investment and Reform Project (PRISET) will provide more than 80,000 households and small businesses with a better access to a grid with greater voltage.
The project is expected to improve power sector’s institutional framework and make it more sustainable financially. This, through the assessment and update of the sector’s legal and regulatory framework; the introduction of a new tariff policy to ensure viability; reform, reinforcement and improvement of public services’ management.
PRISET, let’s note, is backed by the World Bank (CFA20 billion). It is thus the first investment project of the institution in Togo since the 90s.
In the framework of the project, Togo’s power utility – Compagnie Energie Electrique du Togo – issued a general procurement notice for acquisition of rolling stock, electricity meters, connection equipment, etc. A procurement expert, a supervisor and a manager are also being sought for. These will oversee and ensure the rehabilitation of Medium Voltage (MV)/Low Voltage (LV) substations, that of MV networks and the expansion of MV/LV networks.
Togo : Master plan for dual education system is being validated
Togo’s ministry of technical education and professional training has initiated last Tuesday, processes to validate the master plan for professional dual education system in the country.
Launched to efficiently tackle underemployment and unemployment, this system combines apprenticeships in a company, at a vocational school or at a teaching school (high school, college). It aims to provide a solution to the imbalance between courses offered in schools and requirements in the job market.
According to the deputy director of the statistics, research and planning office, at the above-mentioned ministry, Koku Adjaklo, “the validation of the master plan for professional dual education is a milestone in the search for sustainable solutions to the challenges of underemployment and unemployment”.
For now, the system which is backed by German cooperation GIZ, integrates only a limited number of professions. However, the government wishes to remedy this and expand it to all professional bodies. After the pilot stage in Tsévié, Kpalimé and Sokodé, the project will be extended to other towns such as Atakpamé, Kara and Dapaong.
Fiacre E. Kakpo
China injects CFA8.5 billion in Togo, to back its development
China will provide Togo with CFA8.5 billion, made up of concessional loans and grants, to support development projects in the country.
The related agreement was signed on Feb. 13, 2018, in the presence of China’s ambassador in Togo, Liu Yuxi, and Togo’s minister of economy and finance, Sani Yaya.
According to the ambassador, the new support is attributable to the many efforts made by the Togolese government to develop, over the past few years. “China is still committed to support the country in improving living standards of its populace”, Liu Yuxi said.
So far, China has invested in many development sectors in Togo, such as education, agriculture, heath, ICT and infrastructures.
Concerning the latter, the Middle Kingdom was the one that financed the construction of the new Togolese National Assembly. The building which cost CFA10.267 billion should be completed next April.
Fiacre E. Kakp