Ensuring road safety through the respect of the Highway Code. That is the major adventure on which the Togolese ministry of transports and infrastructures recently embarked on.

Mid-May, an interministerial decree to reduce costs of motorbike (two and three tires) driving licences was adopted to ensure that motorcyclists conform to traffic regulations.  

From CFA10000, the cost of an A1 license (2 and 3 tires bike) was halved to CFA5000.

Let it be noted that in Togo, 73% of registered vehicles are bikes. However, only 2% of motorcyclists have a license. Not a surprise then seeing that they are involved in most road accidents (76% of accident cases in 2017).

To reverse this trend, a training session was launched for motorcyclists last Tuesday in Lomé, and actually about 30 drivers are attending the session.

Under the training, they are taught about the importance of a driving license, knowledge of Highway Code, and most importantly moral and civic behavior to adopt while on the road.  

The initiative is led by the ministry of transport and it aligns with the SDG 3 which aims to decrease by 50% deaths and injuries caused by road accidents, by 2020. 

Fiacre E. Kakpo

To raise funds for its 2018 budget, the Togolese State proceeded to another issuance of fungible treasury bonds, totaling CFA20 billion, on the UMOA-Titres regional market.

The new issuance occurs after the postponement of another, targeting the same amount and initially planned for May 18, 2018.

Truly, nominal value for the newly issued securities is the same as that of previously issued ones, CFA10,000. They are to mature over 36 months.

According the UMOA-Titres agency, the bonds will be repayable starting from the first day following date of maturity, which is June 21, 2021. The associated interest rate which is unique is 6.25%.

Results for the recent issuance will be released June 8, 2018.

Since the end of Q1 2018, Togo has recorded successful issuances on the regional market, often exceeding its targets. This means the country was able to regain investors’ trust, after a political crisis that impaired this relation.

Séna Akoda

The West African Development Bank (BOAD), based in Lomé, plans to raise CFA50 billion each year for projects aiming to mitigate global warming, such as clean energy projects.

“We have engaged various processes aiming to expand our portfolio of climate projects that are likely to be submitted to financial mechanisms of the United Nations Framework Convention on Climate Change. We wish to raise CFA50 billion every year, by 2021,” said BOAD’s President, Christian Adovèlandè.

With its “Investment grade” profile, the institution meets requirements needed to achieve this goal, Adovèlandè said.

Continuing, he declared: “First results were obtained in 2017, when we mobilized CFA1.3 billion from the World Environment Fund (WEF) for clean energy in Togo; CFA4.9 billion from the Adaptation Fund (AF) for climate-smart agriculture in Guinea Bissau.”

BOAD started looking into environmental issues since 2003. Last March, the institution announced it had invested more than CFA5,000 billion for the West African integration area.

Fiacre E. Kakpo

New appointments were made within Togo’s ministry of finance and economy.

Sallah Ataovi Soeké, previously central inspector was appointed general inspector of treasury.

Emegnimo Elonyo, previously central inspector of treasury was raised to the position of deputy director general of treasury and public accountability.

Next is Atekissim Alimondom, who was previously central inspector of treasury also. He will now be director of treasury.

The new appointments fall under the restructuring process started last January 11, at the ministry of finance and continued March 7.

Séna Akoda

In Togo, the Active Youth Association (RJA) which fights global warming just made a significant investment in cashew farming in Kara, in the North.

On Monday, May 29, 2018, this group provided 7,000 cashew seedlings worth CFA5 million to farmers, via institutions in charge.

Through this, they wish to, not only boost cashew output, but also help fight desertification.

The move is surely good news for the cashew industry whose footprint has expanded greatly over the past years. Indeed, in 2016, Togo exported 190 tons and 161 tons of cashew nuts to the European Union and the United States, respectively.

In fact, given its growing presence in the local agricultural sector, during the sixth Agrifood and Agricultural International Fair of Lomé (SIALO) held in 2017, a whole day was dedicated to the crop. This allowed a better exposure of the sector and its opportunities to the public.

In the 2017/18 season, Togo’s cotton output rose by 8% to 117,000 tons, sources from the government revealed Wednesday. This is far below initial target which was 130,000 tons.

Average price to producers was increased to CFA260/kg as compared to CFA240 the previous season.

According to Nana Adam Nanfame, Managing Director of Nouvelle Société Cotonnière du Togo (NSCT), cited by Reuters, harvest was impaired by low rains, but was balanced by a greater sown area.

For the 2018/19 season, officials expect an output of 140,000 tons. By 2022, this output should rise to 220,000 tons, with a 95% top quality rate, and an average field yield of 1600kg/ha. More than 200,000 farmers would have to commit to achieve this goal.

Cotton, let’s remind, contributes about 40% of Togo’s exports.

Fiacre E. Kakpo