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Togo successfully carried out its first two issues on the regional money market, the WAEMU Securities Stock. The country just launched its third issue with a target of CFA30 billion. The operation closes next Friday, February 2.
The issue is a dual issue of fungible treasury bills and bonds (BATs and OATs in French).
The first securities, the BATs have a par value of CFA1 million....
Togo plans to spend CFA13 billion this year on food security and resilience projects. The forecast, the same as in 2023, equals 25% of the budget allocated to the Ministry of Agriculture for 2024–CFA52 billion.
In detail, Lomé will pump the money into projects that fight hunger, bolster food security, improve nutrition, and foster sustainable farming. These projects fall under the...
Dutch group Van Vliet Automotive has moved its Togolese subsidiary to the Industrial Platform of Adetikope. The company will sell and maintain its vehicles from there.
The subsidiary, Van Vliet Automotive Togo, occupies 9,000 m². It sells, maintains, and repairs MAN and Volkswagen trucks, buses, tractors, and semi-trailers. It also sells original spare parts and accessories.
Van...
Togo will spend CFA2 billion this year to revamp its tourism industry. That is around 58% of the annual budget of the Ministry of Tourism.
One of the key projects in which the money will be invested is a digital platform for hotel booking and big events. The Ministry of Tourism steers the project with the Ministry of Digital Economy. The project is set for completion this year.
Part of...
The European Union (EU) will support Togo’s budget with a CFA13.44 billion financing. This will add to another CFA10 billion recently disbursed to back the country’s 2023 budget.
In a statement dated January 22, 2024, the EU noted that the funds will support reforms set under the Togo 2025 Roadmap–especially reforms that foster decentralization, sustainable agribusiness, and access...
Lomé will host the first ECOWAS Investment Forum (EIF) on April 4 and 5. The forum will be organized by the ECOWAS Bank for Investment and Development (EBID). Its theme is "Transforming ECOWAS communities in a challenging environment."
According to Ecofin Agency, the inauguration ceremony for the forum was held online on January 24. Key participants included the Togolese Minister of Economy,...
Togo will invest CFA2 billion in fishing and aquaculture this year. That is almost 70% of the CFA3.1 billion budget allocated to the Ministry of Maritime Economy.
Part of the CFA2 billion will fund the Togo Aquaculture Development Project launched in 2022.
Another part will fund projects to boost the country’s fish production, focusing on providing jobs to graduates of local...
A delegation of Turkish investors met Togo’s Minister of Investment Promotion, Manuela Santos, on January 17. They were led by the Turkish Ambassador to Togo, Muteber Kiliç.
During the meeting, the Togolese side presented key projects falling under the country’s 2025 roadmap, with a focus on the following sectors: energy, agriculture, and manufacturing. The goal was to spark the Turkish...
Togo stopped importing frozen poultry, temporarily. According to the Ministry of Agriculture and Livestock, this is to help local producers sell their products as they "are having trouble disposing of stocks of locally produced poultry meat". The ministry noted that more than 70 tons of poultry currency sit idle in the cold rooms of poultry abattoirs.
In a notice dated January 22, 2024, Minister...
President Faure Gnassingbé was in Cinkassé, in the Savanes region, last Sunday, January 21. In a speech to the region’s soldiers, the Togolese leader promised to do everything to protect the people of the northern region against the rising terrorist threat.
"If Mandouri is not at peace, Togo is not at peace. If Cinkassé is not at peace, Togo is not at peace. We will do...
The National Inclusive Finance Fund of Togo (FNFI) wants to leverage biometric identification to track bad loan payers better. The Fund unveiled this ambition last Saturday, in a meeting with its partners and the press, in Lomé.
"With the biometric customer identification system, we will now have a reliable database," said Assih Mazamesso, Minister of Financial Inclusion and Organization...
Scheduled for October this year, the 9th Pan-African Congress has been moved a few days. Initially, the forum was scheduled to take place in Lomé from October 22 to 25. It will now take place from October 29 to November 2, in Lomé still. The change was revealed by the Togolese Minister of Foreign Affairs, Robert Dussey, on January 18.
The Togolese official announced at the 7th meeting of...
Togo closed its second annual issue on the WAEMU market on January 22. It raised CFA27.5 billion via the operation–CFA2.5 billion more than it was seeking.
While the operation was a simultaneous issue of fungible treasury bills and fungible treasury bonds, Lomé secured all the proceeds from the bills. The latter mature over three years and have multiple interest rates.
Overall,...
The government of Togo will slowly transfer the management of its school canteen project to local authorities.
On January 18, Kara and Atakpame hosted information workshops in this framework. The meetings brought together local elects and representatives of the National Agency for Grassroots Development (ANADEB) which has been steering the project since its launch in 2022.
According to...
Togo has set up a Water Police, in line with its ambition to achieve Universal clean water supply by 2030. The police was officially established last week, via a decree issued by the Ministry of Water and Rural Hydraulics.
Their main task will be to carry out investigations to verify the conformity of construction work on wells, boreholes, and any other works or installations for...
The municipality of Tchamba, northern Togo, now has its market. The facility was inaugurated on January 21, 2024. It was built as part of a larger project to support small infrastructure projects at the community level.
Steered by the National Agency for Support to Grassroots Development (ANADBEB), the new market cost CFA124 million. It has ten cantonal-type sheds, three storage...