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The technical and financial rates of implementation of reforms initiated by Togolese ministries and public institutions reached 47% and 28%, respectively, in the first half of this year. The figures were disclosed last Thursday, August 17, by Affo Tchitchi Dedji, permanent secretary in charge of monitoring the country’s reform strategy and financial programs.
The official revealed the...
Over the first half of this year, the Togolese Tax Office collected and contributed to the State budget CFA368.32 billion in tax revenues. This is 5.8% more than the figure recorded in the same period, last year, which is CFA348 billion. The data was disclosed by the Ministry of Economy and Finance.
Tax revenues collected over the first six months of 2023 represent 48.1% of the annual...
Togo’s treasury just launched another simultaneous issue of fungible bonds and bills on the WAEMU market. With the operation, which closes on August 25, the country aims to raise CFA25 billion on the regional market.
In detail, the fungible bills or Bons Assimilables du Trésor (BATs) have a nominal value of CFA1 million, a maturity period of 364 days, and multiple interest rates. The...
In a bid to modernize State institutions, Togo’s Business Climate Cell has been equipping them with state-of-the-art IT hardware. Last week, the Ministry of Housing’s department in charge of issuing permits, and the Trade and Movable Credit Register (RCCM), received high-end servers.
The new server supplied to the Ministry of Housing should improve its processing system, make application...
Togo recorded another successful issue on the WAEMU market last Friday, August 11. The operation, a simultaneous issue of fungible treasury bonds and bills, gathered over CFA48 billion from investors, but Lomé retained 38.4 billion–that is 3.4 billion more than its initial target.
According to the issue’s report, the treasury secured 24 billion with fungible bills which mature over 364...
Togo halted trade with Niger on August 1, 2023. The decision, taken by the Togolese Revenue Office (OTR), was formalized in a press release issued by the tax authorities. It followed economic sanctions imposed on Niamey at the extraordinary summit of ECOWAS Heads of State and Government in Abuja on July 30, 2023.
"Commercial and transit service transactions to and from Niger are suspended until...
A 500 KWp photovoltaic solar plant was recently set up at the Sarakawa Hotel in Togo.
The new plant spans 4,000 m2 and includes 1,224 solar panels laid on the roof of the hotel’s main building.
The facility, which cost CFA496 million, was inaugurated last Friday, August 11. Several Togolese officials, including the ministers of environment and higher education, were...
Togo’s general budget expenditures are estimated at CFA451.53 billion for the first quarter of 2023. The estimate was disclosed by the Directorate General of Budget and Finance (DGBF) in the "Report on the Execution of the State Budget at the end of March, fiscal year 2023." The figure disclosed corresponds to 23.11% of the annual forecast of CFA1,953.48 billion.
At the same time, the...
Registration for the upcoming African Microfinance Week (SAM 2023) in Togo opened on August 10, 2023.
The event is organized by the Network of African Microfinance Institutions (MAIN) and Support for Autonomous Development (ADA), in partnership with the National Inclusive Finance Fund in Togo (FNFI) and the Secretariat in charge of financial inclusion. Scheduled for October 16-20, the...
Togo should soon have an organization for monitoring fraudulent imports. In this framework, the government and private sector of the country have teamed up.
The project aims to better tackle unfair competition and ensure fair market competition. It was announced just after the last meeting of the Consultation Committee between the State and the Private Sector. Held on August 7, this...
Togo launched last week a simultaneous bond issue on the WAEMU market. Set to close on August 11, the operation has a target of CFA35 billion.
In detail, Lomé has issued fungible treasury bills or BATs and fungible treasury bonds or OATs. The former securities have a nominal value of CFA1 million, multiple interest rates, and mature over 364 days. The latter, the OATs, have a nominal...
Boluda Towage, one of the global leaders in sea towing, delivered Togo’s Autonomous Port of Lomé its fourth tugboat last week. Edem Tengue, Togolese Minister of Maritime Economy, Fishing, and Coastal Protection, announced the news on Twitter.
The new boat is intended for the outfitting, docking, and rescue of commercial ships. It should boost the towing capabilities of the Lomé container...
Under the additional phase of the Basic Social Safety Nets program, monetary transfers to disadvantaged households started July 31 in Lomé. The project covers 26,250 vulnerable households from 35 neighborhoods in the munipalities of Agoè-Nyivé 1, 4 and 6, Golfe 1, 4, 6.
The launching ceremony, held on July 31 as well, was attended by representatives of the beneficiaries of the ANADEB...
A major electrification project was launched yesterday, July 31, in Togo’s Savanes region. The project, which covers 18 localities of the region, was launched in Gbargou-Gbangbagou by the Minister of Energy and Mines, Mawunyo Aziablé.
The new project, according to reliable sources, aims to expand the grid in this region of the country and to stabilize the socio-economic and security...
Lomé hosted last week the 14th meeting of the Committee of National Telecommunications Regulators from WAEMU Member States (CRTEL). The event gathered experts from the eight countries to discuss the major challenges facing the sector.
Three topics dominated the talks: how to further reduce regional communication rates, ensure better quality of service, and incorporate the advancements of...
In Togo, capital gains tax (TPV) has been extended to partial transfers of land deeds. The measure takes effect today, August 1, according to the Togolese Tax Office (OTR)
In a statement addressed to the users of the Directorate of Cadastre, Land Conservation, and Registration (DCCFE), the OTR notes that the measure applies to "all new requests for partial transfers (subdivisions) of land...