This year, the 34^th edition of the two-week commercial which has become one of the reference end of year events in the sub-region will be held.

Yesterday October 30, 2018, Bernadette Legzim-Balouki, the trade minister, launched this edition in Lomé in the presence of Germain Méba, president of Togo’s Chamber of Commerce and Industry and economic operators.  

Organized on three sites namely, Agbadahonou, Adéticopé, and Baguida, this fair will help micro, small and medium companies boost their sales and establish business contacts. It will also provide economic operators with opportunities to discuss and exchange.

“Our country has important opportunities that we should value. We can thus fulfill our population’s expectation which is to make Togo an important, open and competitive trade hub for the reputation of our traders and investors”, the trade minister said.  

The president of the chamber of commerce and industry, promoter of this event, invites economic operators to take this opportunity to promote their activities.

Séna Akoda

Angolan group DGM is qualified for the final stage of an international tender launched by Lomé for the development of a national biometric identification system. The latter is one of the major projects of Togo’s new national development plan (2018-2022).

DGM Sistemas takes part to the bidding with Mtdhouse and Unys. The first operates in the IT sector and develops infrastructures to modernize public institutions while the second is active in the biometry sector.

Beside these firms, six others are running against DGM to win the tender.

The Angolan conglomerate’s decision to participate to the tender aligns with its international strategy to expand its operations, knowingly in the sectors of civil identification, social security and health, to other African nations, with a focus on members of the community of Portuguese language countries (CPLP) and French-speaking African countries.    

“Our conglomerate is renowned for its excellence in the projects we developed over the last years. We are now looking to export this experience, our knowledge and most advanced technologies to help government institutions fulfill their obligations toward the people,” said Mauro Franco, associate at DGM and head of its expansion strategy.

Baptized e-ID Togo, Togo’s biometric ID programme will require an investment of CFA20 billion. It aims to provide each Togolese citizen and resident with a unique biometric ID number.

Fiacre E. Kakpo

In Togo, under the mechanism fostering agricultural funding (MIFA), Orabank-Togo has issued a loan of more than CFA330 million for 392 farmers who belong to three cooperatives.

The cooperatives are  COOP-CA UCAPRIKO, COOP-CA UCARIM and COOP-CA UNION WLI-BOLOU which respectively received CFA125,249,000, CFA120,383,000 FCFA and CFA88,665,000 FCFA to fund their operations.

Interest rate on the loan is 8%, according to the related note released on MIFA’s Facebook page.

MIFA aims to provide in ten years, up to ten times seed money and bring agricultural loans’ share in banks’ loans from 0.3% to 5%.

The scheme should positively impact a million farmers by 2021, through the professionalization of value chains, boosting financial inclusion and creating cooperatives.

Séna Akoda

CFA25.077 billion. That is the amount raised by Togo’s treasury through its latest fungible bonds issuance on the UMOA-Titres market last Friday.

This sum is about half (54.1%) the amount targeted by the treasury. In detail, total amount of bids placed for the 3-year bond issuance was CFA23.259 billion, of which CFA21.03 billion was retained. As for the 5-year bonds, only about CFA4 billion were raised for the operation.

The issuance falls under Togo’s public security issuance programme, in line with the country’s mid and long term debt management strategy.

Let it be recalled that monies collected through the operation should help the country fund its budget.

Séna Akoda

Electricité de France (EDF) has inked an agreement to buy 50% of BBOXX’s capital in Togo. The related ceremony was chaired by Togo’s Prime Minister, Komi Selom Klassou.

The French firm’s decision to join BBOXX’s shareholding should help speed up the CI-ZO programme.

“BBOXX’s solar kits include solar panels with integrated batteries. They are easy to set up and can be paid via mobile. These kits are used for lighting and also to power various low consumption home appliances such as TV, radio, fan or  mobile phone,”  the firm explains.

Identified as one the reference initiative of G20’s Compact With Africa programme, CI-ZO is a project designed by Togo to achieve universal access to power by 2030. 

Last October 2015, the ministers’ council adopted a bill to establish commercial courts in Togo. It also set procedures to follow when reaching out to these courts.

The decision aligns with the government’s desire to improve the country’s business climate. Lomé had already established commercial chambers to ensure contracts are duly carried out. However, the ministers’ council says, the chambers, while ensuring good practices, fail to fill the void left regarding legal basis for court proceedings.

Additionally, article 84 of Togo’s constitution states that rules defining legal and administrative proceedings are set by the law.

Hence, the newly adopted bill which is based on OHADA’s universal principles for equity tackles this shortcoming. Now, the next step consists in the approval of the bill by the parliament. 

Séna Akoda