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The President of Togo, Faure Gnassingbé, attended yesterday, May 22, the inauguration of the Dangote Oil Refinery in Nigeria. He was there with several other African leaders.
The refinery, which is named after its owner, Aliko Dangote, is located in the Lekki free zone, near Lagos. Spanning 2,635 ha, the refinery can process 650,000 barrels per day. It will produce gasoline, diesel, jet fuel,...
Togo successfully carried out its second issue on the regional money market last Friday, May 19. The country’s treasury raised CFA31 billion from the WAEMU investors, by simultaneously issuing fungible bonds and bills.
The operation’s report states that Lomé raised CFA20 billion via the bills which mature over 182 days, and the remaining CFA11 billion was raised via the bonds, which...
Togo ranked 162nd in the 2022 Human Development Index (HDI), with a score of 0.539. According to the UNDP, which published the report, this is “significant progress” compared to the year before when the country ranked 167th (with a score of 0.515).
The progress was disclosed last Friday, by the UN agency which launched the report that day. The launching ceremony was presided over by Sandra...
More foreigners are starting up businesses in Togo. Last year, out of the 13,835 new businesses registered at the Business Formality Center (CFE in French), 2,176 were created by foreigners. The number is 1.6% higher than that recorded in 2021.
Among foreigners who officially set up a business in Togo in 2022, Nigeriens (from Niger) came first with 402 businesses. Right behind were...
The recently-retired CEO of Ecobank Transnational Incorporated (ETI), Ade Ayeyemi, was made Commander of the Order of Mono on May 18 in Lomé by Faure Essozimna Gnassingbé, Togo’s President. This is the most prestigious distinction of Togolese honorary orders. According to the Togolese authorities, it recognizes the Nigerian’s professional achievements.
Le Directeur général sortant de...
Lomé will host a forum for young entrepreneurs next month, on the 16 and 17. The forum, called National Congress for the Young Entrepreneurs of Togo (CoNJET) was announced on May 17 during a press conference organized by the Association of United Young Entrepreneurs for an Emergent Togo (JEUNE-Togo in French). The event will be held at the Palais des Congrès de Lomé.
The CoNJET is expected to...
Ecobank and Japan Motors launched a car financing offer on 17 May 2023 in Lomé. The offer, aimed at employees and SMEs, should make it easier for the latter to get loans to buy cars.
These car loans range from 8 million FCFA to 54 million FCFA, repayable over up to four years, at a rate of 7.5% to 8% depending on the customer's profile and the repayment period.
According to the...
Togo wants to double the contribution of mining to its GDP by 2025. To do so the country relies on the recovery of its phosphate industry, and its manganese-rich subsoil.
Togo’s government inked with the British firm Keras Resources a deal that will double the mining sector’s share in the country's GDP by 2025. Under the deal, Keras gave up on its operating permit for the...
Shareholders of Ecobank Transnational Incorporated (ETI) approved a dividend payout of $28 million, equivalent to 0.11 cents per share. This decision took place at their annual general meeting held on May 17, in Lomé, Togo.
The challenging economic environment, characterized by escalating inflation and high-interest rates, has led to a 32.25% reduction in dividends compared to the...
Through its International Islamic Trade Finance Corporation (ITFC), the Islamic Development Bank (ISDB) will provide Togo with $250 million to lay the groundwork for expanding its partnership into three new key sectors: energy, agriculture, and private sector development.
The related agreement was signed last Friday, May 12th, on the third day of the IsDB’s annual meetings in...
In a recent meeting between Togo's prime minister, Victoire Dogbé, and the German minister of foreign affairs, Katja Keul, it was announced that Germany will assist Togo in combating terrorism. The discussion primarily revolved around fostering cooperation between their respective countries, addressing the security concerns in Togo and the Sahel region, as well as focusing on matters of...
Togo will, again, try to raise CFA30 billion on the WAEMU stock market. The country’s public treasury just launched a simultaneous issue of fungible treasury bonds and bills. The operation closes next Friday, May 19.
According to the issue’s notice, Lomé seeks CFA20 billion through the bonds and 10 billion through the bills. The former has a nominal value of CFA10,000 and two interest...
Togolese authorities are working on a plan to equip Lomé, the capital, with an urban transport system that integrates changes in demographics. Works for the document’s elaboration started on May 16, after a ceremony organized by the Ministry of Road, air, and rail transport.
Known as the Sustainable Urban Mobility Plan (SUMP), the plan’s elaboration is co-funded by the...
Lomé will host Africa50’s Infra for Africa forum and the General Assembly of its shareholders on June 3-4, 2023. This will be the event’s first edition, and it will be held under the patronage of Togo’s President, Faure Gnassingbé.
The forum, which will focus on financing infrastructure in Africa, will gather leaders from different sectors, including banking; with "Bankable, scalable,...
Togo and Senegal want to bolster their cooperation. The subject was discussed last Thursday, May 11, during a meeting between Edem Tengue, Togo’s minister of maritime economy, and Achille Gueye, director general of the Senegalese Agency for maritime affairs (ASAM).
The two officials covered various issues, such as ways to fight piracy and illicit trafficking in the Gulf of Guinea. They...
Lomé is currently hosting the 2nd edition of the Pan-African Poultry Conference (PAPC). The event began on May 16th and will end on May 18th. The event, whose first edition was held in 2019, is organized by the Regional Center of Excellence on Avian Sciences (CERSA) in partnership with the World's Poultry Science Association (WPSA).
Over 300 actors from the poultry industry, from Africa...