Togolese telecom firm Togocom and lender Orabank have teamed up to launch PASS TMONEY, a new mobile banking service, on May 23. The service enables offline money transfers between Togocom's TMoney mobile money platform and Orabank, in both directions.

PASS TMONEY also allows TMoney and Orabank users to check their balances and mini-statements via mobile.

The service is accessible through USSD code 145612#.

Orabank Togo CEO Guy Awona hailed PASS TMONEY as a major stride in Togo's financial inclusion efforts. Togocom CEO Pierre Antoine Legagneur echoed this sentiment, stating, "The alliance between banks and telcos in mobile money is key for financial inclusion."

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The number of people with high blood pressure is rising in Togo. From 2011 to 2021, the official proportion of people suffering from the condition rose from 19.7% to over 27%. The figure was disclosed on May 17, the World Hypertension Day.

"In 2021, Togo conducted its second survey involving populations aged 15 to 64. It turned out that hypertension is present in 27% of cases, affecting a quarter of the Togolese population," said Professor Mofou Belo, Professor of Neurology and Head of Non-Communicable Disease Surveillance at Togo’s Ministry of Health. "This is serious because it's a value that has evolved. In 2011, the same survey was conducted and hypertension was a concern in 19.7% of cases."

In Togo, over 80% of stroke victims are hypertensive, and about 6000 stroke cases are recorded annually. "This is a tragedy because it affects people of middle age between 45 and 50 years old most often. We also see young people falling victim to stroke," Prof. Belo said.

He then urged young people to get checked up once a year, at least, and old people once or twice weekly, "even if you are not hypertensive."

While lifestyles and consumption habits are implicated in the rise of hypertension cases, especially excessive consumption of salty foods, processed foods, alcohol, and tobacco, it is recommended to exercise and eat healthily.

Ayi Renaud Dossavi

Togo’s power utility, the CEET, has implemented a daily power supply rationing plan, as households, small and medium-sized enterprises (SMEs), and industries in the country face unexpected interruptions.

The utility detailed its plan last week, stressing that it goes from May 19 to May 26, 2024. The rationing plan, the CEET explained, is in response to the persistent difficulties faced by Togo and the West African sub-region since the beginning of May, following a gradual return to normalcy observed at the end of the first quarter.

Regarding power distribution, Togo is divided into three main zones, each further subdivided into sectors or clusters of neighborhoods. Households and SMEs are distributed across the first two zones, while the third is exclusively reserved for industries.

The CEET indicated that power outages could be implemented in certain sectors based on the deficit observed during the day, according to specified time slots outlined in a table provided for this purpose.

Besides the rationing, the utility issued safety instructions to raise awareness among the population about potential disruptions.

"We apologize for any inconvenience caused. Rest assured that all measures will be taken to restore normal electricity supply as soon as possible, and we thank you for your understanding," CEET concluded.

Yango, the taxi-hailing mobile app, will soon be available in Lomé, Togo. The app should roll out by mid-June. Drivers are signing up at the moment.

Yango allows users to book rides online. In Lomé, it will compete, among others, with Gozem, active in the Togolese capital since 2008, and BKG SPEED, which came in more recently.

The newcomer’s arrival is highly anticipated according to observers. They believe it could dynamize the local urban transportation market, bringing advanced tech solutions and enhancing user experience. 

Yango is already present Côte d’Ivoire, Ghana, and Cameroon. 

Observers claim that its profit dynamics in Togo could differ from those in Ivory Coast. In the former, VTCs compete against taxi-bikes or "zémidjans". 

Also, unlike Gozem, Yango intends to focus solely on cars, leveraging the rapidly increasing smartphone and internet penetration rate.

Yango is a subsidiary of the Russian tech giant Yandex.

Fiacre E. Kakpo

Bank Of Africa of Togo (BOA-Togo sealed, last week, a major financing deal with the Federation of Women Entrepreneurs and Businesswomen of Togo (FEFA-Togo). Under the deal, signed on May 17, the lender will back the women’s activities with CFA1 billion over 12 months.

The document was signed in Lomé, by Youssef Ibrahimi, CEO of BOA-Togo, and Candide Bamezon-Leguede, president of FEFA-Togo.

"This partnership is the beginning of a significant collaboration between two major players in the Togolese economy. By joining forces, we aim to stimulate Togo's economic and social development," Ibrahimi said.

For the FEFA’s boss, the partnership is an opportunity to offer flexible financing tailored to the specific needs of businesswomen in the country. "This initiative is a first in the region and aims to create real and sustainable opportunities for women," she noted.

The financing program revolves around three strategic axes. First, pre-financing support to overcome the bureaucratic obstacles often encountered by entrepreneurs. Then, assistance in assembling documents. Finally, post-financing support to ensure that funds are used effectively to maximize impact on the ground. The program also includes entrepreneurship training, covering financial education and business management, enhanced by coaching and peer mentoring.

"Together, we can break barriers, eliminate inequalities, and create a world where all women have the opportunity to achieve their entrepreneurial dreams," Bamezon-Leguede stressed.

Lomé hosts the 21st Seminar of the Francophone Network of Telecommunications Regulation (FRATEL). The two-day event opened today, May 21. Organized by the local telecom watchdog, the ARCEP, the forum brings together regulators from Francophone African countries. For this edition, the theme is "Data Economy and Digital Services: What Technical and Economic Regulatory Challenges".

During the event, participants will explore the regulatory and technical challenges posed by the data economy and digital services. The focus will be on the future of networks and regulation, as well as emerging markets for data and mobile payments.

Guests include representatives from international organizations, regulatory institutions, universities, and private enterprises, all gathered to share their expertise and perspectives on these issues.

The FRATEL was founded in 2003 in Bamako, Mali.

To tackle the significant housing shortage in the West African Economic and Monetary Union (WAEMU), a major initiative was launched in Lomé last week. Known as the "Housing Loan Guarantee" (HLG), the initiative aims to help real estate developers secure loans more easily. The HLG was launched by the African Solidarity Fund (ASF) and the Regional Housing Refinancing Fund of WAEMU (RHRF-WAEMU). The Guarantee benefits from a solid 'investment grade' rating, enhancing its credibility.

"The housing loan guarantee is designed to share credit risks and reduce the net cost of risk while decreasing the consumption of banks' funds. It thus makes housing finance more accessible and sustainable, with positive impacts on economic stability and social development in our region," stated Yedau Ogoundele, CEO of RHRF-WAEMU.

Concretely, the HLG allows WAEMU lenders to obtain guarantees of up to CFA5 billion per entity, with an 80% coverage in case of default. "By activating this 'silent' guarantee, we cover 80% of the risk of each defaulted loan. We will intervene as a first demand for 50%, with institutions having three years to recover the funds before we settle the rest," said Abdourahmane Diallo, CEO of ASF.

"This guarantee offers prospective homeowners more favorable loan conditions and allows banks to optimize their equity while increasing their lending capacity," added Diallo.

With the housing deficit in WAEMU currently at 3.5 million units and an annual need for 251,000 new units to keep up with demographic growth and urbanization, the launch of the HLG addresses a critical need in the region. "To meet these structural challenges, RHRF-WAEMU had to react by offering innovative and adapted solutions," emphasized Ogoundele.

The ASF and RHRF-WAEMU plan to conduct a roadshow across the WAEMU’s eight countries. The roadshow aims to tailor the Guarantee to the needs of WAEMU States.  "We invite all interested banks and DFS to join us in developing their housing loan portfolios. This is an evolving process where we will adapt our offer based on the feedback received," concluded Ogoundele.

Fiacre E. Kakpo

Last week, President Faure Gnassingbé visited three Planned Agricultural Development Zones (ZAAP) in Haho, Moyen-mono, and Amou prefectures. These are the ZAAPs of Somone Copé, Gamé, and Ogbatanawlou.

During the visit, Gnassingbé held a Grand Oral, gathering feedback from ZAAP operators on issues they face. He also took stock of their recommendations to improve agricultural activities. The leader on the occasion reiterated his commitment to supporting farmers, aiming for food self-sufficiency through the ZAAP.

"We must produce what we consume, ensure decent living conditions, and improve the livelihoods of producers," Faure Gnassingbé declared. He then encouraged producers to “build on technical support and mentoring services for long-term empowerment and sustainability”.

The ZAAP of Somone Copé spans 100 hectares and focuses on corn and soybean farming. Sixty (60) farmers, including 32 women, work at the zone. The Gamé and Ogbatanawlou ZAAPs focus both on corn farming. They span 64 and 100 hectares respectively, with 55 and 74 farmers, including 35 and 27 women. 

This visit follows the inspection of two ZAAPs in Yoto prefecture in March. It falls under ongoing talks between President Gnassingbé and local agricultural producers.

Esaïe Edoh