Togo First
WAEMU: Chartered Accountants Committed to SMEs’ Growth
Lomé hosted the 6th Congress of Chartered Accountants of the West African Economic and Monetary Union (WAEMU) last Friday, September 27. The meeting gathered about a hundred chartered accountants from Union and Nigeria.
They discussed their contributions to the sustainable development of SMEs and the regional economy, focusing on "the role of chartered accountants in the inclusive and sustainable development of SMEs."
According to Stéphane Akaya, Secretary General of the Ministry of Economy and Finance, SMEs are the engine of economic growth for countries in the sub-region. ‘“We firmly believe that SMEs must be the engine of economic growth in our countries. This Congress must contribute to reinforcing this conviction,” he said.
Chartered accountants are expected to provide solutions tailored to the development needs of SMEs. Therefore, they will put forward modern and transparent practices made possible by the evolution of digital technologies. Akaya also emphasized the need for chartered accountants to position themselves as strategic advisors to SMEs. In this regard, he suggested developing innovative tools to support business growth.
This meeting comes at a time when the Ordre National des Experts-Comptables et Comptables Agréés du Togo (ONECCA) has been working to clean up the sector since last year, as unqualified players were operating illegally, hampering the effectiveness of chartered accountants in their role of supporting the country's economic development.
Esaïe Edoh
Togo: Golfe 1 Municipality Reports Budget Surplus of 277 Million FCFA for 2023
Togo’s Golfe 1 municipality has reported a budget surplus of CFA277 million for 2023. The commune raised CFA3.3 billion to finance its budget, initially set at CFA3.1 billion. These figures were shared during a public accounting session on September 24, 2024.
Under the leadership of Koami Gomado, now Minister of Territorial Planning and Development, the municipality spent CFA3.07 billion last year. According to Fofo Boko, the 1st deputy mayor, 74% of the funds raised went to operating expenses, while 26% was allocated for investments. These investments supported several development projects aligned with the Communal Development Plan (PDC).
Notable projects include the construction of a medico-social center, a mini-water supply system in Klobatème, refurbishing the Bè hospital, and expanding the wedding hall at the Akodésséwa annex town hall. Several elementary schools in the commune also received improvements.
Golfe 1 is one of the largest municipalities in Greater Lomé, spanning 6,066 km² and home to nearly 500,000 people or about a quarter of the population of Lomé, the capital.
Esaïe Edoh
Togo Presents Energy Sector Projects for MCC Compact Program
On September 25, Togo presented feasibility studies for several energy-related projects it seeks to have covered by the Compact Program of Millenium Challenge Corporation (MCC). The projects aim to expand the electricity grid, boost access to electricity, and enhance regulatory policies and the skills of energy sector workers.
They include the PEREGL, which aims to extend electricity networks in Greater Lomé (PEREGL), the ER322 Rural Electrification project, and enhancements to the Tinga Fund. The projects are designed to improve the reliability of electricity transmission and distribution while expanding access to energy.
They align with the government's goal of universal electricity access by 2030. They complement other initiatives, such as Cizo and the Tinga Fund, which have raised Togo's electrification rate from 54% in 2020 to 69% in 2024, with rural electrification increasing from 18% to 30%.
With energy, ICT is another area of focus, under the MCC’s Compact for the Togolese authorities. According to the government, both are key drivers for transforming Togo's economy and improving citizens' quality of life.
Esaïe Edoh
Togo to Host 2nd Edition of National School on Internet Governance Next Month
Lomé will host the second edition of the National School on Internet Governance (École Nationale sur la Gouvernance de l'Internet) from October 7 to 9, 2024. Organized by Internet Society Togo, the event aims to train 50 participants from various sectors, including government, private industry, civil society, universities, and the technical community, on Internet governance issues.
Attendees will learn the skills needed to manage digital governance in Togo efficiently.
"The National School on Internet Governance is an essential project that aims to equip local players with the necessary skills to positively influence digital governance in our country", saidEmmanuel Agbenonwossi, Chairman of the Board of Directors of the Internet Society Togo.
Digital regulation, cybersecurity, artificial intelligence, and digital policy strategies will be discussed during the program. These topics are all key to the government’s goal of enhancing digitalization.
The National School on Internet Government took place for the first time in 2021. It aimed to lay the groundwork for more inclusive and effective digital governance. The Internet Society Togo is the national branch of a global organization dedicated to ensuring an open and secure Internet.
Ayi Renaud Dossavi
Togo: Exports to Other ECOWAS States Reached Nearly CFA400 Billion in H1 2024
In the first half of 2024, Togo's exports to West Africa reached nearly CFA400 billion, driven by strong port activity and re-exports. The country maintained a positive trade balance with other ECOWAS countries. The ECOWAS has 15 member States. Burkina Faso, Niger, and Mali recently exited the block.
According to data from the National Institute of Economic, Statistical, and Demographic Studies (INSEED-Togo), exports from Togo to ECOWAS amounted to CFA217.7 billion in H1 2024, up 0.2% year-on-year. Between Q1 and Q2 2024, Togolese exports slumped by 10.9%.
Regarding imports, Togo spent CFA93 billion to buy goods from its ECOWAS peers, over the first half of this year. Between Q1 and Q2 2024, the sum was up 33%. Overall, Togo recorded a trade surplus of CFA124.6 billion with its neighbors.
The West African Economic and Monetary Union (WAEMU), which includes eight French-speaking West African countries and Guinea-Bissau, accounted for about 85% of Togo's exports in H1 2024. Exports to the Union totaled CFA184.8 billion. Between Q1 and Q2 2024, they slumped by 9.4%.
For Togo, the trade balance with WAEMU was more favorable than with ECOWAS. While imports from WAEMU rose to CFA49 billion, the trade balance remained in surplus at CFA135.7 billion.
Ayi Renaud Dossavi
Togo: President Faure Gnassingbé Calls for Global Cooperation at UN Summit
In New York, Togolese President Faure Gnassingbé called for a global response to the crises affecting many countries during his speech at the Summit of the Future at the UN on September 23, 2024. He emphasized the need for international cooperation to tackle food, security, and environmental challenges.
Gnassingbé stated, "There is no better future than in the collective action of our States within renewed global political frameworks," urging a rethinking of multilateralism and the reform of outdated global institutions. The official also expressed optimism about Africa's future, viewing the continent as key to global market development, especially in green and blue economies. He believes Africa, with its vibrant youth and free-trade zone, is ready to adopt new partnership models, particularly those involving the private sector.
Gnassingbé advocated for public-private partnerships to create favorable conditions for private investment, asserting “Africa will continue to be home to most of the world's youth. This is where the potential for developing the markets of the future lies”.
Gnassingbé also supported ongoing UN reforms and called for equal representation of African nations on the international stage, declaring “We can only build a better future if all voices are heard and respected.”
While optimistic, he expressed concerns about international aid, which he believes often does not meet people's real needs. As a solution, he proposes “strengthening the role of African states in development aid, so that they become strategic and equitable partners”.
Upon returning to Togo, Gnassingbé reiterated the importance of building a strong state to lead development and humanitarian efforts in collaboration with the private sector and civil society. "In Togo, we are striving to build a strong state. We see this state at the center of any development and humanitarian aid solution, in collaboration with the private sector and civil society,” he noted.
Esaïe Edoh
9th Pan-African Congress Postponed Again
The 9th Pan-African Congress, set to take place in Lomé from October 29 to November 2, has been postponed to an unknown date. The Togolese Ministry of Foreign Affairs announced this on September 23.
This is the second time the event has been postponed. It was initially scheduled for Oct. 22-25.
The congress aims to discuss "Renewal of Pan-Africanism and Africa's role in the reform of multilateral institutions."
Despite the postponement, six preparatory conferences have already been held, leading to recommendations for all African leaders to participate. The event is set to welcome participants from Africa, its diaspora, and Afro-descendants.
Togo Launches Census for Administrative Reserves in Greater Lomé
In Togo, a census campaign for administrative reserves began on September 23, 2024. The campaign will last two weeks and will focus on the 13 municipalities of the Greater Lomé Autonomous District. The goal is to identify and secure state-owned land to prevent speculation and illegal occupation.
By listing these administrative reserves, the government aims to clarify property boundaries. These public lands are crucial for public projects like schools, hospitals, and roads. This initiative is part of a broader effort to optimize public land use amid rapid urbanization in the capital.
The campaign comes as land management in Togo faces challenges and conflicts. Implemented by the Office Togolais des Recettes (OTR) as part of its reforms, this system aims to simplify and modernize land-related procedures.
To improve land management, a Unique Parcel Number (NUP) system has been introduced to simplify land procedures. As a result, each plot of land in the country has been assigned a unique number since August 1, 2024.
Esaïe Edoh
Togo Secures CFA6 Billion for Rural Electrification from BOAD
During its 143rd board of directors meeting, the West African Development Bank (BOAD) approved a CFA6 billion allocation to support rural electrification in Togo.
The BOAD approved a total of CFA105.6 billion in new financing to support the region's economies. Including the recent funds, the Bank has disbursed CFA8,854.3 billion for the Union since its launch in 1976.
? 143ème CA de la BOAD : 6️⃣ nouvelles opérations approuvées pour un montant global de 105,638 milliards FCFA.
— Banque Ouest Africaine de Développement (@BOAD_official) September 21, 2024
Découvrez les opérations approuvées ici
➡ https://t.co/GdxHLb6Xek pic.twitter.com/WzbJy3XaAx
The new financing will impact 172 localities by extending the electricity distribution network, aligning with Togo's goal of universal electricity coverage by 2030. Currently, the coverage rate stands at 66%. The funding is expected to add 9.3 GWh to the grid in the first year, providing electricity to around 35,000 residents and creating over 600 jobs.
Additionally, Togo is working on constructing energy infrastructure, including a project to electrify 317 localities using solar mini-grids. The World Bank supports the Togo Energy Reform and Investment Project (PRISET), which includes rehabilitating the Lomé power grid and reducing power outages.
Another initiative, the Lomé Power Grid Extension Project (PEREL), is being financed by the Agence Française de Développement (AFD), the European Union (EU), and KFW (German Development Bank) to improve electrical infrastructure in the capital.
Togo: Lomé to Host 3rd Extraordinary Session of ECOWAS Parliament
From September 24 to October 4, 2024, Lomé will host the 3rd extraordinary session of the ECOWAS Parliament, alongside the 2nd parliamentary orientation seminar for the 6th legislature.
The upcoming extraordinary session will focus on adopting the ECOWAS’ 2025 draft budget, ensuring budget stability, and implementing reforms to modernize the institution, according to the National Assembly. These align with ECOWAS’ 2050 Vision which aims at an integrated, prosperous, and peaceful West Africa.
The meeting should regroup 115 parliamentarians from the 15 member states and will emphasize financial inclusion for women and strengthening regional governance amid ongoing security and economic challenges.
Ayi Renaud Dossavi