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Factoring financing almost tripled in Togo between March 2022 and March 2023, from CFA7 billion to CFA19 billion. The figure was recently reported by Minister of Finance, Sani Yaya, at the National Credit Council.
The official also noted that leasing credits stood at CFA23 billion at the end of March 2023, nearly twice the amount recorded at the end of March 2022.
By comparison, the...
Launched in 2018 in Togo, the WACA Resip program has invested a total of 431 million FCFA in community forest management, according to data consulted by Togo First. These funds were poured into five sub-projects that aim to help Togo better preserve and manage its forest resources.
Five sub-projects
The investments break down into 89 million FCFA for the conservation and sustainable management...
At the end of May 2023, Togo had an inflation rate of 5.8%, compared to 8% a year earlier. According to the National Credit Council (CNC), which disclosed the figure, the improvement was driven mainly by two factors.
The first is "the good results of the previous agricultural campaign (2022)”. Reporting a better agricultural output, the CNC said it “has allowed for favorable market...
Over the first half of the year, Togo raised CFA414 billion on the WAEMU market. That is 72% of the country’s target for the year–CFA574 billion.
In detail, Lomé raised CFA211 billion on the regional stock via Treasury Bills (BAT), following 13 public securities issuances. The remaining CFA203 billion were obtained via 24 issuances of Treasury Bonds (OAT).
In Q1 2023, Togo...
"Togo is a rapidly transforming country, with the aim of becoming a key regional transit center for West Africa, a regional hub for air transport, with ASKY Airlines as a major player, a regional hub for maritime transport and logistics, with the port of Lomé now a key transit port." This ambitious vision was hailed on July 3 by Akinwumi Adesina, President of the African Development Bank (AfDB),...
Matthias Veltin, Germany’s Ambassador to Togo, has ended his four-year mandate in the African country. On July 5, the European diplomat paid a farewell visit to Togo’s Prime Minister, Victoire Tomégah-Dogbé.
"I would like, on this occasion, to express my gratitude to all the Togolese men and women for the warm welcome and excellent relations I have been able to enjoy here. We had a long...
Seventeen (17) institutions, including Togo’s Lottery (LONATO) and its Social Security Fund (CNSS), wish to join the shareholding of Africa50’s Infrastructure Acceleration Fund (IAF). They voiced the ambition on July 3 in Lomé. The IAF fund, which is currently mobilizing $500 million, aims to bridge the infrastructure deficit in Africa.
"Our main objective is to help bridge the...
A delegation of French business leaders was recently in Togo to explore its economic opportunities and establish partnerships. Led by the Club d'Entreprises Bordeaux Afrique (CBSOA), the delegation was received by the Ministry of investment promotion from July 3 to 5. It was hosted by the Agence de Promotion des Investissements du Togo (API-ZF), with the support of the Togo Embassy in...
The Arab Bank for Economic Development in Africa (BADEA) would like to boost its investment portfolio in Togo. On July 4th, the Togolese President, Faure Gnassingbé, covered the topic with BADEA’s Director-General, Sidi Ould Tah.
The two men had the meeting in Lomé, on the sidelines of the first Infra for Africa Forum dedicated to mobilizing investments in infrastructure. Together,...
To boost its solar energy production and attract private investments, Togo wants to bolster its partnership with the International Solar Alliance (ISA). President Gnassingbé of Togo discussed the matter with ISA’s Director General, Ajay Mathur, on July 4th.
"We discussed ongoing projects, such as the mini-grid project which aims to provide affordable solar energy to populations, create...
There are only 30 women on the official roster of the National Order of Engineers of Togo (ONIT), out of 527 engineers in total, including nine interns who have been licensed to practice in the country. The ONIT reported the figures on July 1, 2023.
In detail, the 527 engineers include 309 civil engineers, 100 electrical and electronic engineers, 40 mechanical and industrial engineers, 15...
The capital of Togo, Lomé, will host the second edition of the Interprofessional Dialogue on Taxation (DIF) on July 6 and 7, 2023. The event will delve into the tax conventions signed by African countries, with participation from Togolese taxation experts and academic scholars. This year's focus, "The African Continent Under the Test of Tax Conventions," sheds light on the region's tax...
Cassa Depositi E Prestiti (CDP) will open a €60 million credit to support Africa’s private sector. The Italian public financial institution and the West African Development Bank (BOAD) signed the related agreement on July 3, 2023, in Lomé, Togo.
The deal was signed by Serge Ekué and Davide Petrangeli, respectively the BOAD’s boss and CDP’s investment manager. It will support...
Togo produced 46,549 tons of cotton in the 2022-2023 season. This is 11% less than the previous season’s output–52,528 tons. The figures were presented by the National Federation of Cotton Producers' Groups of Togo (FNGPC) on June 30, in Kara, as part of the Federation’s annual report presentation.
In the 2022-2023 campaign, a total area of 66,017 hectares was farmed, with a yield of 705...
Addoha Douja Promotion, a Moroccan company, will build 1,000 housing units in Lomé, Togo’s capital. The Ministry of Urban Planning revealed that the government and the firm signed the related protocol agreements on June 15. The documents were signed by Koffi Tsolenyanu, Minister of Housing, and Mehdi Zemmama, Executive Director for Africa of Addoha.
Under the terms of the agreement, the Rabat...
Togo has become a full member of the African Telecommunications Union (ATU). The country’s National Assembly unanimously adopted the government-proposed membership bill on Friday, June 30.
According to Cina Lawson, the Minister of Digital Economy, the approval will support Togo’s ambition of becoming a leading digital hub in Africa and the world.
"This membership is a major step in our...