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Togo has secured a financing of $100 million (about CFA60 billion) from the World Bank at the institution’s Spring Meetings in Washington. The funds will help the West African nation bolster access to drinking water in Greater Lomé and improve sanitation services in the surrounding area.
Sani Yaya, Togo’s minister of finance, and Coralie Gervers, who heads the World Bank’s operations...
Togo will officially launch the 9th Pan-African Congress on May 22 in Lomé. Robert Dussey, the minister of foreign affairs announced this today, April 13, after a meeting of the High Ministerial Committee on the Decade of African Roots and the Diaspora.
Now the date is known, Togolese authorities should soon begin preparations for the congress. The event was initially announced earlier this...
Togo participated last week in the fifth session meeting of the International Cashew Advisory Council (ICAC), which was held from April 5 to 6, 2023 in Abidjan, Côte d’Ivoire. According to the Togolese Ministry of Trade, which reported the information, the meeting gathered the ministers of agriculture, industry, and trade of the ICAC member countries.
In parallel, the country also took part...
Togo raised CFA113 billion on the WAEMU market in Q1 2023. This is 29% less than it did over the same period last year, CFA160 billion.
In detail, over the past three months, Lomé secured CFA50 billion and CFA63 billion, through fungible treasury bills (BATs in French) and fungible treasury bonds (OATs), respectively.
In Q1 2022, the treasury secured respectively CFA28 billion...
The Nigeria-Morocco mega gas pipeline project could soon materialize. Recently, Nigeria's National Petroleum Company Limited (NNPCL) announced that it will invest $12.5 billion to acquire a 50% stake in the $25 billion infrastructure project.
The pipeline will stretch 5,600 kilometers along the Atlantic coast, running through 13 countries, including Togo. Morocco will host 1,672...
Togo's external debt amounted to CFA1,296.11 billion in 2022. According to the Ministry of Finance, this is 38.84% of the public debt portfolio and more than a quarter (25.32%) of the national GDP.
Multilateral creditors (Bretton Woods institutions, development banks, etc.) hold 58.6% of the country’s external debt. Right behind are commercial lenders who hold 36.8% of this debt,...
Togo: Finance Minister Sani Yaya leads a Togolese delegation to World Bank and IMF’s spring meetings
Togo is taking part in the World Bank and the IMF’s spring meetings which began on April 10, 2023, in Washington. The Togolese delegation is led by Sani Yaya, the country’s finance minister.
The spring meetings will last a week and will, according to experts, cover topics such as the World Bank’s reform, urgent global issues, and the management of debt which has reached levels that...
Togo's public debt stood at CFA3,337 billion in 2022. That is 65.84% of its GDP, according to a report recently released by the Ministry of Economy and Finance.
This is the third consecutive year that the debt ratio rises. It stood at 51.95% and 62.43% in 2020 and 2021, respectively. Back in Q3 2022, the Ministry of Finance said the country’s debt was “under control”. Indeed, despite...
Edem Tengue, Togo’s Minister of Maritime Economy, recently met with Brazil’s Ambassador to Togo, Nei Futuro Bitencourt. The two men looked at possibilities to boost bilateral cooperation between the two countries, in the maritime sector.
Lomé wants to leverage its port’s position to bolster maritime trade with Brazil. According to Tengue, Brazil shares the same vision. "I am...
Togo’s latest issue on the WAEMU-security market was successful. Lomé had a target of CFA30 billion but raised CFA32 billion on the market last Friday, April 7th.
The operation -a simultaneous issue of fungible treasury bills (BATs in French) and bonds (OATs)-attracted 19 investors. The latter subscribed for FCFA 33 billion, thus representing a coverage rate of 111.7%.
According to the...
On Wednesday, April 5, 2023, Togo announced the creation of Société Togolaise de Manganèse (STM), a state-owned manganese mining company.
According to Togolese authorities, STM was created to ultimately "develop the mining value chain, boost job creation and improve the country’s economy by helping efficiently take advantage of mineral resources.
Indeed, despite a mineral-rich...
The e-commerce industry has grown exponentially in recent years and the number of online marketplaces has followed suit. The marketplaces that were developed in the wake of the e-commerce boom include DizzitUp, an African start-up and finalist of the Ecobank Fintech Challenge 2022. The platform has great ambitions and wants to become the African alternative to Alibaba. During the Lomé chapter of...
The Council of Ministers of Togo approved, on April 5, 2023, the construction of a PV solar plant in Dapaong (about 610km north of Lomé). This is the second PV plant the country will have after Blitta’s.
The upcoming infrastructure will be built over 115 ha and have a production capacity of 30MWp. The project falls under the regional solar project of emergency intervention...
Last March 28-31, the Togolese Ministry of Trade held a meeting with local exporters. The meeting was organized in the framework of the country’s plan to update its "Exporters’ Guide" published in 2014, to guide economic operators. The country plans to add new information to allow Togolese entrepreneurs to be competitive and meet the requirements of international...
The Togolese National Assembly approved, Thursday, a 12-month extension of the state of emergency in the Savanes region.
This extension -which comes after a six-month state of emergency that ended on March 12, 2023- was requested by the government to continue and intensify its terrorism-combating actions in this northern area under terrorist threats since November 2021.
According to...
Gado Bemah, the founder of the start-up GIP Togo and winner of the Afri-Plastics Challenge prize, was received by Prime Minister Victoire Tomegah Dogbé last Wednesday.
During the audience, the Togolese entrepreneur -whose startup specializes in plastic recycling- was congratulated by the Prime Minister for winning the Pan-African competition and getting over CFAF700 million to...