Togo plans to raise CFA195 billion on the WAEMU market this quarter to fund its budget.
In detail, the Togolese treasury scheduled a dual issue for April 12: an issue of fungible treasury bills (BAT) and an issue of fungible treasury bonds (OAT). The former securities mature over three months and the latter over five years. Togo hopes to raise CFA30 billion through the operations, and CFA15 billion respectively.
Two weeks later, on April 26, Lomé plans another simultaneous issue. Again, it will seek CFA30 billion in this operation-CFA15 billion by issuing 1-year BATs and CFA15 billion with 3-year OATs.
The next issue, again a simultaneous issue, is scheduled for May 10, 2024. Lomé will issue 3-month BATs and 3-year OATs. This time, however, the country expects CFA10 billion from the former and CFA15 billion from the latter.
On May 23, Togo plans to auction three securities - a 12-month BAT and two OATs, one for three years and the other for five years, totaling CFA45 billion.
On June 7, the Togolese Treasury will seek CFA35 billion through three auctions. Through the first two, it will issue BATs with respective maturities of six and 12 months. Lomé expects respectively CFA15 billion from these operations. Through the last, the treasury will issue OATs set to mature over seven years, in the hope of raising CFA10 billion.
To close the quarter, the treasury plans to issue, simultaneously, BATs and OATs that mature over six months and five years, respectively. Through the BATs, the country hopes to mobilize CFA15 billion. And through the OATs, it expects CFA15 billion.
It is worth noting that Togo’s public debt has been going up, nearing the 70% threshold set within WAEMU. This is mainly attributable to debt costs rising over the past two years on the regional market.
Over the past quarter, Togo secured CFA194 billion on the WAEMU financial market. This is about 32% of its goal for the year CFA607 billion. The funds raised finance the country’s annual budget.
Fiacre E. Kakpo
The Mother and Child Hospital in Bè (south suburb of Lomé) should soon be completed. The Togolese Minister and secretary-general of the Government, Sandra Ablamba Johnson, visited the site last weekend, taking stock of the work’s progress.
According to district chief, Mawuko Déla Aklassou, the works are 95% complete. They should be finished before the set deadline, according to Yawo Agbessi Tsogbe, CEO of TTTI (Togolese for All Engineering Works), the firm in charge of the project.
Launched in December 2021, the project spans 1,200 m2 at the heart of the Bè district. It will house two specialized services, specifically maternity and pediatrics. With a capacity of 100 beds, "this hospital will contribute to improving the quality of care for mothers and children and relieve congestion at the current Bè hospital," said Azobua Abewou-Adzeoda, the director-general of the Bè hospital.
More Mother and Child hospitals are being built across Togo’s five administrative regions. The overarching goal of the projects is to boost hospitals’ technical capacities in pediatric and neonatal resuscitation, thus ensuring optimal care for mothers and children.
Steered by the National Health Insurance Institute (INAM), the initiative falls within the framework of a public-private partnership. It aligns with the government’s vision for universal healthcare in Togo.
Esaïe Edoh
Togo produced around 64,000 tons of ginger per year on average in the past few years. According to the Ministry of Agriculture which disclosed the figure, most of the output comes from the Plateaux and Centrale regions, with an average yield of 10 to 20 tons per hectare of fresh rhizomes. In total, nearly 10,000 agricultural households are involved in its cultivation, mainly in these two regions (which respectively account for 66.39% and 20.36% of the total workforce).
Among the many partners that support the industry are the German cooperation and the MIFA. Several projects, such as the Kara Agropole, were set up to bolster the sector, and they helped push the total cultivated area from 930 hectares in 2021 to 1,218 hectares in 2023.
Despite this expansion, the size of the farms remains modest, with most farmers operating less than 0.25 hectares. In comparison, the number of large producers is estimated at around 250 across the entire territory. Such a situation impacts overall productivity and highlights the sector's potential for improvement.
In 2019, Togo exported a little over two tons (2,029 kg) of ginger, mostly to the European Union, the US, and Japan. These exports represented less than 1% of the global market. Meanwhile, the West African nation imported 197.6 t of ginger that same year.
Last February, an investment strategy for the sector was approved. Drawn by the Ministry of Agriculture, the strategy aims to better structure the sector and allow stakeholders to readily access lucrative markets. Ultimately, the goal is to ramp up the country’s output to 150,000 tons by 2028, with at least 75% of this volume processed.
Ayi Renaud Dossavi
The people of Agou and Blitta (respectively 66km and 266km away from Lome) recently welcomed new drinking water facilities. The facilities, which fall under the government’s water supply system reinforcement and extension project, were handed over last weekend by the Minister responsible for village hydraulics, Damehame Yark.
In Agou, specifically in Gadzepe, the infrastructure consists of two submersible pumps, each capable of delivering 40 cubic meters per hour. The pumps are connected to the Zio River in Kati, where they receive treated water from a treatment plant with a capacity of 1,700 m3/day. A 160 m3 intermediate reservoir was also set up in the locality, along a 12.6 km pumping network, and 62 water fountains. The Ministry of Rural Hydraulics said the facilities cost about CFA13 billion to set up.
In Blitta, specifically in Blitta Gare and Blitta Village, whole potable water supply systems were set up. They include wells, reservoirs, pumping networks, distribution networks, and 62 water fountains.
According to Damehane Yark, the facilities support Togo’s goal of achieving universal access to potable water by 2030. Several other projects are currently underway, with more planned for the coming years, with the primary objective of meeting the challenge of nationwide water coverage.
Esaïe Edoh
Togo’s poultry output reached 35.7 million heads in 2023. The figure was disclosed in the recently released Citizen's Budget of the Ministry of Economy and Finance.
Year on year, the figure is up by 8%. Indeed, in 2022, the country produced 33.12 million heads.
The Plateaux region mainly contributed to the increase, with a production of 12 million heads last year (35% of the total). The same region had produced slightly over 11 million heads the year before.
The second-most productive region was the Savanes region. It produced 8 million heads in 2023, against 7 million in 2022.
The Central and Kara regions produced a little over 5 million heads, respectively, and the Maritime region produced 4 million heads.
This year, the country’s poultry output is expected to pass 38 million heads.
Esaïe Edoh
The Support Fund for Youth-led Businesses of Togo (FAIEJ) claims to have created 26,309 sustainable jobs from its launch in 2012 to the end of March 2024. Over the same period, the Fund said it loaned out CFA8.63 billion.
The Fund further noted that it financed over 6,000 projects and trained nearly 36,000 people (35,822). Also, it claims to have sensitized around 140,000 young people and recorded almost 24,000 registrations for its activities.
The FAIEJ aims to help young Togolese develop their entrepreneurial skills, by providing financial and technical support.
In 2023, the FAIEJ mobilized CFA2.68 billion (CFA2,687,905,380) to support 1,852 new youth-led projects. The amount represents 31% of its mobilizations since its inception.
Ayi Renaud Dossavi
The Ministry of Agriculture and Livestock recently launched an agricultural mechanization program, in partnership with the Moroccan Office Cherifien des Phosphates (OCP Africa).
Overall, 120 participants will take part in the program. They will be equipped with skills and tools to help them be more productive and earn more.
The participants will be divided into two groups. One group will gather 100 people who will learn how to operate tractors and 20 others who will learn how to maintain the vehicles. The second group will gather the Tractor and Agricultural Machinery Driving Schools (ECTMs) from the Central, Kara, and Savanes regions.
Training young tractor operators
Specifically designed for young individuals aspiring to become tractor operators without prior experience, this training will provide them with essential skills to effectively utilize advanced agricultural technologies. It is worth noting that the initiative is developed in collaboration with the Mohamed VI Polytechnic University (UM6P) through the African Academy of Industrial Training (AAIT).
Togo and Morocco, it is worth noting already have an agreement that aims to facilitate access to mechanization services in agriculture. Together, the partners also launched a pilot agricultural mechanization center in Kpalimé.
Ayi Renaud Dossavi
A new initiative to support SMEs was launched in Togo on March 30, 2024. Known as the Togo Business Angels Network (TOGOBAN), the initiative was launched by Rose Kayi-Mivedor, Minister of Trade and Local Consumption.
The project aims to provide business owners with funding, and training to grow their projects.
Togoban is the local branch of the African Business Angels Network (ABAN).
“The goal is to provide startups and small and medium-sized enterprises the support they need to grow. Our role is to take the risks that banks are unwilling to take. And beyond financing the project, we aim to invest in the entrepreneur or innovator themselves," explained Olatokunbo Ige, founding member of Togoban.
On March 31, 2024, President Faure Gnassingbé requested a second reading of the revised constitution adopted on March 25.
Gnassingbé "today requested the President of the National Assembly to proceed with a second reading of the adopted law." According to a statement from the Presidency, the request is driven by the "interest the text sparked since its adoption."
Approved with 89 votes out of 91, the revised constitution should pave the way for a Fifth Republic and a parliamentary regime.
Togo and Luxembourg signed a letter of intent focused on their cooperation in the coming years. The latter was signed in Lomé, on March 28, by the Togolese Minister of Foreign Affairs, Robert Dussey, and Luxembourg's Minister of Cooperation and Humanitarian Action, Xavier Bettel. Bettel stopped in Togo as part of a West African tour.
The letter of intent paves the way for stronger cooperation between the two countries, especially in the areas of economy, digitalization, environment, education, vocational training, and financial inclusion. Minister Bettel has met various Togolese officials in charge of these sectors.
"With the signing of this letter of intent, we are laying the groundwork today to deepen the partnership of cooperation between Luxembourg and Togo. I am pleased with this first step towards closer cooperation, which will be based on development priorities," Bettel wrote on his official X account.
In Togo, Luxembourg is engaged in the Kara Investment Fund. This fund supports projects in sectors such as agriculture, renewable energy, port, airport, road infrastructure, as well as telecommunications and digitalization.
Esaïe Edoh