Togo is closing its latest operation on the West African Economic and Monetary Union (WAEMU) securities market today. Lomé hopes to raise CFA30 through the operation. 

In detail, the country’s treasury simultaneously issued fungible bonds (OATs) and bills (BATs). Lomé seeks CFA10 billion through the BATs and CFA20 billion through the OATs. The former securities have a par value of CF1 million, and mature over 182 days, at multiple rates. The latter have a par value of CFA10,000, mature over one and five years. The one-year securities have various interest rates and the five-year securities have a fixed rate of 6.40%. 

Proceeds of the operation will fund Togo’s 2024 budget which stands at CFA179 billion. Togo has raised CFA531 billion on the regional market since January, out of an annual target of CFA607 billion. 

Esaïe Edoh

Togo will host the second Pan-African Consumer Protection Forum next month. This event will take place from September 5 to 7, in Lomé, the capital. It is organized by the African Consumers' Union (ACU) in partnership with the Ligue des Consommateurs du Togo (Consumers’ League of Togo - LCT). 

This year, the event’s theme is: "Strengthening the satisfaction of users of telecommunications and air transport services for better air and digital connectivity."It aims to get ACU members to develop strategies for rapidly implementing the Single African Air Transport Market (SAATM)   and improving telecommunications regulation across Africa.

Dr. Emmanuel Sogadji, President of the LCT, said "The forum will bring together representatives of consumer organizations from all over Africa. The UAC aims to strengthen the bond of partnership and fraternity within these organizations. We have put in terms of general theme the protection of consumer rights in the telecommunications and air transport sectors."

Talks, he added, will also cover ways to encourage countries to ratify SAATM, which would help facilitate the free movement of people and goods across Africa. "Taxation will also be on the discussion menu. We'll be talking about telecommunications, which today are the basis of all economic activity in our countries, as well as our businesses," he said.

Founded in 2018 and based in N'Djamena, Chad, the ACU includes 43 consumer associations from 34 African countries.

Ayi Renaud Dossavi

The West African Food System Resilience Program (FSRP Togo) recently launched a certified seeds distribution campaign in the Maritime region. Last Thursday, the program covered several localities, including Afagnan, Momé-Hagou, and Tabligbo.

Implemented in partnership with the Institut de Conseil et d'Appui Technique (ICAT), the FSRP Togo provides quality seeds to vulnerable farmers, hence helping improve their yields. 

Sewonou Yao, head of ICAT Maritime's extension service, noted that "obtaining a good yield depends 40% on the quality of the seeds." He added that following proper agricultural practices could help yield 2.5 tonnes per hectare for maize, 333 kg per hectare for rainfed rice, and 6 tonnes for irrigated rice.

The distribution campaign is part of a nationwide effort to assist nearly 30,000 vulnerable producers in the Kara, Centrale, Plateaux, and Maritime regions. Under this larger initiative, each farmer will receive a 10 kg bag of certified seeds, including enhanced organic corn, rice, soybean, and cowpea.

Financed by the World Bank, the FSRP Togo aims to strengthen the country's food and nutrition system by improving agricultural yields, developing farm mechanization, and increasing access to agricultural inputs

Togo recently secured $2.4 million from the International Fund for Agricultural Development (IFAD) to develop its agricultural sector. The deal was sealed last week in Lomé, by IFAD’s country director, Kabore Jean Pascal, and Ayéfoumi Olou-Adara, president of the Coordination togolaise des organisations paysannes et de producteurs agricoles (CTOP).

The funding will help implement the Projet soutien à la promotion du maraîchage agro écologique paysan au Togo (ProsMAT). Togo will use the money to finance its food security strategy and foster sustainable farming practices. 

Through the ProsMAT, CTOP will provide technical support to market gardeners in 16 prefectures across six agricultural regions, focusing on agroecological production. The goal is to improve vegetable yields and quality while reducing pollution.

The project will also work on reducing post-harvest losses and helping market agroecological produce. Additionally, the funding will support processing units run by women's cooperatives and youth enterprises producing agroecological inputs.

The project should last 40 months and cover about 10,000 farmers, with 58% being women. The initiative is part of other IFAD efforts to support Togolese agriculture, including funding for a project aimed at achieving zero hunger in Nigeria and Togo.

Esaïe Edoh

The Togolese Ministry of Trade and Handicrafts digitized on August 1st eight administrative procedures related to trade and craft operations. The move aligns with Lomé’s ambition to digitize 75% of administrative procedures by 2025.

These new online services include applications for prior import authorization for sensitive products, placing foodstuffs on the national market, obtaining importer or exporter cards, and securing certificates of origin outside ECOWAS. In the craft sector, the digitized procedures cover applying for a professional card, registering an apprentice, signing up for the CFA (Certificat de fin d'apprentissage) exam, and applying for a diploma. All these services are accessible through the "Citizens" or "Professions libérales" sections of the national public services portal.

The recent initiative is backed by Agence Togo Digital (ATD). It aims to simplify administrative processes for citizens and entrepreneurs. It is expected to reduce office wait times and make services more transparent and accessible.

Esaïe Edoh

Togo has raised CFA531 billion on the WAEMU Securities market so far this year. This is 87% of its annual goal–CFA607 billion. In its latest issue on the regional market, Lomé secured CFA32.1 billion. The operation, a simultaneous issue of fungible treasury bills (BATs) and treasury bonds (OATs), took place on July 26. 

Lomé raised CFA18.6 billion through the BATs and CFA13.5 billion through the OATs. The former mature over a year, while the latter mature over three and five years, at 6.15% and 6.40% per annum, respectively.

In its report on its last issue, the WAEMU indicated that it recorded a subscription rate of 107.65%. This means investors raised CFA32.2 billion for the operation. Across the region, 24 investors participated. 

The issue’s proceeds will finance Togo’s 2024 budget, which is balanced at CFA2,179 billion.

Esaïe Edoh