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A World Bank delegation, present in Lomé, Togo, since May 2, 2023, finished, on May 8, evaluating the implementation of the Food System Resilience Program (FSRP) in the country.
The delegation reviewed, with Togolese actors, suggestions made during the first support mission and assessed work done under the 2023 annual budget as well as work plans for the Program. The various parties also...
The President of Togo, Faure Gnassingbé, and the President of France, Emmanuel Macron, are meeting today in Paris. The Togolese leader was invited by his European counterpart.
According to the Togolese Presidency, the two men will mainly talk about cooperation between their countries, and regional issues, especially relative to security and peace.
"The dinner scheduled at the...
During its 135th board meeting on May 8, the West African Development Bank (BOAD) announced its plan to invest CFA5.13 billion in a mall project in Lomé, Togo.
"The project will contribute to making Togo a premier business center by setting up a commercial platform of international standing," the Bank noted. The project is carried out by the Duval Group, a French real estate company.
In...
This could strongly impact regional financial markets and mirrors a global trend of monetary tightening by Central Banks.
The Central Bank of West African States (BCEAO) might increase its key interest rates at the upcoming monetary policy meeting, scheduled for June 2023, according to information from Agence Ecofin. This would be the fifth consecutive time within a year that the Bank will...
In Togo, the Autonomous Road Maintenance Financing Company (SAFER) raised CFA30.46 billion for the 2022 fiscal year from its maintenance activities. This is about 2 billion less than its target for the period–CFA32.84 billion.
The government disclosed the figure on May 8, 2023, during its latest council of ministers. The Minister of Public Works, Zourehatou Kassah-Traoré, on the occasion,...
Nearly one million Togolese citizens live outside their home country. The figure was disclosed by Robert Dussey, the Minister of Foreign Affairs, on May 8, during a Council of Ministers.
The diaspora counts exactly 950,436 people, according to a censure carried out in 2022. Among them are 52.82% men and 44.18% women.
Leveraging the data, the government will better guide its policies and...
The Togolese government wants to adopt a law to better fight climate change. On May 8, 2023, during its council of ministers, Lomé greenlit a draft bill "on combating climate change".
"It has become necessary to take measures aimed at strengthening the implementation of activities with high potential for reducing greenhouse gases, as well as promoting the development of innovative technologies...
In Togo, the National Food Security Agency (ANSAT) opened new sales windows on May 3rd, according to the agency’s top management.
The ANSAT added that the new windows take only bundled orders from public and private entities, in all prefectures, as well as orders from poultry farmers. Orders must be addressed to the ANSAT’s general directorate in Lomé or general directorates in...
The Togolese parliament recently approved of the country’s adhesion to the Global Green Growth Institute (GGGI). This should enable Togo to receive technical support from the Institute, and consequently boost its capacities to raise traditional funding.
Also, the adhesion will accelerate the transition to a more resilient economy, while fostering job creation, job change, and capacity...
France’s development agency, AFD, is expected to soon provide new financing for the West Africa Coastal Areas Resilience Investment Project (WACA-ResIP) in Togo. According to the program’s coordinator in the country, Abdul Rahimi Alimi, the agency should spend €35 million on works along the Agbadrafo-Gbodjomé (18 km) axis along the coast.
"The AFD has committed €35 million in...
Last week, Togo raised CFA33 billion on the WAEMU market, 3 billion more than it was seeking.
In detail, the Togolese treasury obtained CFA25.5 billion via fungible bills and CFA7.5 billion via fungible bonds. The former matures over 182 days and the latter over 3 years.
According to the UEMOA-Titres’ report on the operation, 26 investors subscribed, raising CFA57 billion in all....
The West African Development Bank (BOAD) completed its recently-launched securitization operation. In a statement issued on May 2, the sub-regional lender announced that it raised, via the operation, a "historic" amount of CFA150 billion ($246 million) on the Uemoa financial market.
Carried out by BOAD Titrisation, the operation will help the Bank optimize its balance sheet, hence raising its...
The World Bank’s portfolio is now valued at more than a billion dollars. In April 2023, the exact amount was $1,055.63 million, according to documents obtained by Togo First.
The portfolio covers nine national projects worth $520.1 million and nine regional projects worth $535.53 million.
The funds were invested in several sectors, including basic education, higher...
Bank Of Africa will support 100 youth-owned Togolese businesses with CFA2 billion. The Bank announced the facility on April 29, 2023.
The funds will be disbursed on May 6, 2023, in Lomé, during the second edition of the Meet Up Togo fair.
Beneficiaries will be picked among businesses that will take part in the event. Priority will be given to the most innovative businesses, which...
On May 4th, the Togolese parliament approved the country's adherence to two international conventions aimed at protecting its maritime activities. The first is the International Convention for the Conservation of Atlantic Tunas, and the second is the Agreement on the Privileges and Immunities of the International Tribunal for the Law of the Sea.
The first convention will enable Lomé to take...
Ajay Banga is the World Bank’s next boss. For five years, starting on June 2, 2023, he will steer the Washington-based group, according to a statement released on May 3. Banga is the 14th president of the institution.
The former Vice President of General Atlantic and former CEO of Mastercard will replace David Malpass, who announced his resignation a few months ago.
In Togo, Sandra Johnson,...