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Entrepreneurs looking to apply for BOA’s CFA2 billion for the 100 Young Entrepreneurs project in Togo have until July 30 to do so. The lender announced the deadline last Thursday, June 22, on the sidelines of Meet Up 2, a gathering of young African success stories and entrepreneurs.
Turnover of SMEs and SMIs applying for BOA’s program must not exceed CFA300 million, and they should be...
Last Friday, the World Bank confirmed it would pump $100 million into the ASTRE program in Togo. This is a social assistance program that aims to support extremely poor households in the country, with an emphasis on supporting women. The funds will be provided by the International Development Association (IDA).
Building on the lessons from the Novissi emergency cash transfer program, and...
The Lomé-based banking group Ecobank will rely on the network of the Pan-African Payment and Settlement System (PAPSS) to facilitate its cross-border financial exchanges. The two sides inked a memorandum of understanding (MoU) on June 19, 2023, in this framework.
The agreement was signed by the Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, and the Chief...
A history museum will be built in the town of Kamina (20 km from Atakpame) and a tender was recently launched to hire the project’s developer. This was announced by Togo’s minister of culture, Kossi Lamadoko.
Financed by the State, the museum’s construction should take seven months, according to the ministry.
A former German military base, Kamina used to house a powerful...
Alice Albright, the CEO of the Millennium Challenge Corporation (MCC), is in Togo. She met with President Gnassingbe on June 20, 2023, in Lomé, the capital.
Je me suis entretenu ce jour avec Madame Alice Albright, @MCC_CEO, Directrice générale du Millenium Challenge Corporation.Nous avons, dans nos discussions, évoqué le programme Threshold qui vise à accompagner notre pays dans le...
Several procurement experts and stakeholders gathered in Lomé on June 20 to appraise and validate Togo’s national procurement policy. The move aligns with the Togolese authorities’ efforts to reform the procurement sector.
This reform should, according to the country’s procurement watchdog, the ARCOP, help boost the local economy, by enhancing access to procurement and its...
The Islamic Development Bank (IsDB) will back Togo’s universal healthcare policy with CFA38 billion. The money will be devoted to the PR4SP, a project aiming to bolster the country’s health system and primary health care. The project was launched on June 20, 2023, in Lomé, by the Ministry of Health.
The PR4SP is a four-year project that involves building and rehabilitating nearly 30...
Victoire Tomégah-Dogbé, the Prime Minister of Togo, attended the International Labour Organization (ILO) Summit on Social Justice in Geneva, Switzerland, last week. On the occasion, she had bilateral discussions and working sessions with many key stakeholders, including Gilbert Foussoun Houngbo, the ILO's Director-General, and former Togolese Prime Minister.
While meeting his compatriot,...
Togo’s President, Faure Gnassingbé, should be in Paris on June 22 and 23, for the New Global Financial Pact Summit.
Initiated by French President Emmanuel Macron, the Summit will cover the global debt system. It will gather several African and World Presidents, senior executives from financial and development institutions such as the World Bank, and dozens of NGOs.
Mostly, the...
The Kamadama power project, under development in northern Togo, is nearly complete. Togolese Minister of Mines and Energy, Mila Aziable, after visiting the project’s site over the past weekend, made the announcement.
"Today, the work is 90.11% complete thanks to the tireless efforts of the technical teams mobilized to finish within the scheduled timeframe," Aziable said after the...
Operating in Togo for nearly two decades, Prudential Beneficial Life Insurance has seen considerable growth, achieving a turnover of CFA5 billion in 2022 compared to less than CFA3 billion in 2015. This financial update was shared with the press in Lomé on June 19, coinciding with the company's 175th-anniversary celebrations.
Justin Quam Gbadago, the Managing Director of the Togolese branch of...
Trade between Togo and Canada hit $65.2 million in 2021, according to data released by the Togolese Ministry in charge of trade. This breaks down into $51.4 million for Canadian exports to Togo and $13.8 million in the opposite direction.
According to the Togolese Ministry of Trade, the two countries’ respective ministers of Trade, Kodjo Adedze, and Mary NG, discussed the topic...
Togo raised about $54 million (30 billion FCFA) on the WAEMU money market last Friday, June 16. Lomé secured the funds through a simultaneous issuance of Fungible Treasury Bonds and Bills.
According to the operation report, Lomé secured $47 million (26 billion FCFA) from regional investors with the fungible bonds, and $9 million (5 billion FCFA) with the bills. The former...
Between September and October 2022, 1,342 Togolese received their certificate of citizenship. According to Togo’s Ministry of Foreign Affairs, the recipients live in Gabon, Côte d’Ivoire, Mali, and Nigeria.
The Ministry added that more diaspora members should obtain the certificate soon. "731 applications are currently being transcribed by the technical services of the Ministry of...
Togo seeks to ramp up its soybean output to 500,000 t per year by 2028. The target is set in a five-year strategic plan recently validated in Lomé.
By boosting its production, the country hopes to consolidate its position as the leading exporter of organic soybeans to Europe. The new plan emphasizes key areas such as developing local processing, enhancing the export of organic soybeans,...
Amid a deficit balance of payments and a rising oil bill, Togo's net foreign assets with the Central Bank of West African States (BCEAO) dropped significantly in 2022.
Togo's net foreign assets with the BCEAO were in a deficit of CFA410.2 billion in 2022, against a deficit of CFA23 billion in 2021, and a surplus of 70.5 billion in 2020. The substantial drop is attributed to a series of global...