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Togo’s top media regulator, the HAAC, recently warned French media Radio France Internationale (RFI) about its coverage of the country's socio-political news.
In a letter dated May 6, 2024, the HAAC highlighted RFI's lack of neutrality and fairness in its news coverage, despite previous warnings. Telou Pitalounani, President of the HAAC, specifically criticized RFI for persistently...
Experts and executives from universities in 20 member countries of the Organization of African, Caribbean, and Pacific States (OACPS) are holding a three-day meeting in Lomé to discuss research and innovation (R&I) financing. Started on May 6, the roundtable aims to bolster this financing, according to local media Togopresse.
Participants are exploring ways to establish national funds...
The Togolese Storage Company (STE), responsible for storing and distributing petroleum products, recently inaugurated a photovoltaic plant on its premises. The ceremony, held on Tuesday, May 7th, was attended by various dignitaries.
With an installed capacity of 90.6 Kwc across 426 m2, the system is set to cover a portion of STE's energy needs and reduce electricity costs. The plant is expected...
Lomé will host the 3rd edition of the International Forum on Digital Intermediation and Innovation (FONI) on May 16th and 17th at the 2 Février Hotel. The organizer, Afrik Créance, said the event will shine a spotlight on the close ties between finance and digital technology in Africa. Between 300 and 1,000 participants are expected.
Focused on the theme "Intermediation, Financing SMEs for...
Recent data from the BCEAO reveals that the microfinance sector in West Africa, particularly in Togo, experienced growth by the end of December 2023, despite facing some headwinds.
Credit Portfolio Expansion
The outstanding loans granted by Decentralized Financial Systems (DFS) or microfinance institutions in Togo increased by 6.5% in the fourth quarter of 2023 (quarter-on-quarter), marking an...
Moov Africa Togo (MAT) and Togo Cellulaire (TGC) were the WAEMU’s top two mobile internet service providers in 2023. The Togolese telecom watchdog, ARCEP, confirmed this on May 6.
Leading the UEMOA Region
"Both operators' internet connection performances rank them at the top two positions in the region according to the nPerf score," ARCEP noted, citing an analysis of 128 mobile operators...
Togo's new constitution was enacted on Monday, May 6, 2024, by President Faure Gnassingbé. This change stems from a constitutional amendment adopted by the National Assembly on April 19.
The new constitution introduces a transition to a parliamentary system, a pivotal shift in the country's governance. This is accompanied by the creation of the Prime Minister position and the establishment of a...
Togo recently launched a news simultaneous issue on the WAEMU securities market, seeking to raise CFA30 billion. Set to close on May 10, the operation involves issuing Fungible Treasury Bonds (OAT) and Fungible Treasury Bills (BAT).
According to the tender notice, the BATs have a par value of CFA1 million, with maturities of 91 and 364 days and varying interest rates. The OATs have a par value...
There are 126 licensed architects and 58 architecture firms in Togo at the moment. The National Order of Architects of Togo (ONAT) revealed this information last Thursday, May 2, presenting the 2024 Order List to the public and media.
The list catalogs licensed architects authorized to practice within Togo and the UEMOA region. Among the 126 architects, there are 20 women, 106 men, and 12...
Togo's National Independent Electoral Commission (CENI) announced the provisional results of the April 29, 2024 legislative elections, revealing a dominant victory for the ruling Union for the Republic (UNIR). UNIR secured 108 out of 113 seats in the National Assembly, claiming nearly 96% of the available seats. The opposition parties collectively won only 5 seats, with two going to the Alliance...
The Kara Savings and Credit Cooperative (COOPEC-Kara) shared its 2023 performance report recently, revealing a loan portfolio of 2.8 billion FCFA, an 11.64% increase from the previous year's 2.5 billion FCFA.
As the Togolese Press Agency (ATOP) reported, COOPEC-Kara saw its membership grow to 44,671 members by the end of 2023, up from 42,381 in 2022, a 5.40% increase. This rise in new accounts...
The BCEAO injected CFA511 billion at a 5.5% rate into Togolese banks this week as part of its routine liquidity operations. A total of CFA7,400 billion was granted in the auction on April 30, 2024, with 110 financial entities from the eight WAEMU countries participating. Ivorian banks received the most: CFA1,741 billion. They were followed by Burkinabe banks which obtained CFA1,312...
It is a first for the Togo-based holding. It achieved the record amidst challenging monetary conditions in key markets like Nigeria and Ghana.
According to the 2023 certified financial results, the Ecobank Group reported a pre-tax profit of $581 million, up 8% year-on-year. This was supported by a net income of nearly $2.1 billion, up 11%.
For the first time since 2015, the group's...
In 2023, the number of French volunteers in Togo reached a record high of 2,113. This included 1,988 short-term missions, 72 civil service assignments, and 53 International Solidarity Volunteers, according to the France Volontaires (FV) 2023 report.
From one year to the other, the number of volunteers deployed shot up by 176% (766 in 2022). According to FV, the surge reflects "a clear evolution...
Rumors of low voter turnout in Togo's April 29 elections quickly spread on social media. The day following the elections, Dago Yabré, President of the Independent National Electoral Commission (CENI), dismissed these claims. Yabré explained that the perception of low turnout was due to the many polling stations nationwide.
A total of 14,271 polling stations were set up nationwide for these...
Togo has entered a new phase of collaboration with global firms KPMG and McKinsey for implementing the Compact program. These renowned firms were selected by Togo's Compact Implementation Unit, as per a contract award notice.
KPMG will focus on ICT projects as part of Togo's Compact, conducting studies over 12 months. With operations in over 140 countries, KPMG Advisory will specifically delve...