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The month of local consumption or “consommer local” officially started in Togo on October 9. This edition, the fourth, was launched by the Minister of Trade and local consumption, Rose Mivedor.
This year, the event will mainly focus on finding "strategies to stimulate the consumption of local goods and services". There will be discussion panels, centered on the main theme, and on issues like...
Togo’s top mesofinance institution, Société Générale de Micro & Méso Finance (SOGEMEF) has loaned out CFA30 billion since its launch in 2017. This is twice the amount the lender reported in 2021.
The figures were disclosed by SOGEMEF’s acting MD, Zankou Abla Mawussé, last week. This was during the official inauguration of the lender’s branch in Kara.
The finance institution...
Togo has started preparing for the next Conference of the Parties on Climate Change (COP28) which it will attend. The meetings focus on strategies for mobilizing financing for environmental projects at the conference.
The projects Togo will present at the event this year are aimed at fostering "sustainable agriculture and a climate-resilient, low Co2 emission economy."
So far, the country has...
Manuella Santos, the new Togolese minister of investment promotion, met with a delegation from the China International Capital Corporation Limited, on October 9. The delegation was led by one of the bank’s higher-ups, Yan Changsheng, and China’s ambassador to Togo, Chao Weidong.
The meeting, according to Santos, was aimed at bolstering economic cooperation between China and Togo and...
Togo’s National Assembly revised its 2023 finance act last week, at the request of the government. Initially set at CFA1,957.9 billion, the national budget was scaled up to CFA1,975.5 billion, revenues and expenditures.
In detail, revenues now stand at CFA1,204.1 billion, against CFA1,187.2 billion before the revision. Expenditures, for their part, were scaled up by 1.1%, from CFA1,554.7...
Arise IIP, a key manager of industrial parks in Africa and active on the Industrial Platform of Adetikope (PIA) of Togo, just partnered with French tracking firm Crystalchain.
In a statement issued on October 9, Arise IIP said it has acquired a 17.6% stake in Crystalchain. The move, Arise IIP said, will help the PIA reduce its carbon footprint by better tracking its...
A Cameroonian app, Koree, won the 6th edition of the Ecobank Fintech Challenge. Koree stood out among more than 1,490 fintechs in the competition.
Founded and headed by Magalie Gauze-Sanga, Koree aims to solve the small change issue in Francophone Africa. Right behind the Cameroonian app were Makuta (Democratic Republic of Congo) and Flexpay (Kenya), second and third, respectively. The...
In Togo, the health authorities started distributing long-lasting impregnated mosquito nets (LLINs) last Saturday, October 7. The campaign, the fifth of its kind, will end on October 18. A total of 6,547,600 LLINs will be distributed, door to door.
The new campaign aims to reduce deaths by malaria, according to Wotobe Kokou, Secretary General of the Ministry of Health. "One thing is to have the...
Togo and three other West African countries will share €200 million which they will receive as part of the second phase of Agence Française de Développement's (AFD) Choose Africa initiative. According to the AFD, the money will target the informal sector, as well as SMEs and startups. It will run from 2024 to 2027.
The funds should serve in setting up public mechanisms to support...
Ecobank Togo just opened, through the Sephis Foundation, a CFA1 billion credit line for Togolese businesswomen. The investment aims to boost female leadership in the country, where over 32% of businesses set up last year were set up by women.
The financing agreement was signed on October 4, by the lender’s managing director, Souleymane Touré, and Sefora Kodjo, president of the SEPHIS...
The Arab Bank for Economic Development in Africa (BADEA) will back Togolese SMEs with CFA10 billion. The Bank and the government sealed the deal on October 3, in Lomé, during the Africa SME Champions Forum.
Sani Yayi and Sidi Ould Tah, respectively the Togolese minister of finance and the BADEA’s managing director, signed the agreement.
According to Yaya, the CFA10 billion is paired with...
The Presidents of Togo and Kazakhstan, Faure Gnassingbe and Kassym-Jomart Tokayev had a phone call yesterday, October 3. The two leaders talked about deepening their cooperation, in sectors like trade, investments, transport, logistics, and agriculture.
Le Président de la République, @FEGnassingbe a eu entretien téléphonique avec son homologue de la République du Kazakhstan, @TokayevKZ,...
As part of the U.S. food aid program, over 200 schools in Togo will get support to feed students. Deployed on the ground by Baltimore-based Catholic Relief Services (CRS), the initiative targets nearly 155,000 students (154,675), providing them with daily meals, for five years.
Over the period, the U.S. will ship more than 5,000 tonnes of vegetable oil, peas, rice, and cornmeal to Togo. Local...
Togo's updated score on the World Bank's CPIA 2023 report could enable the country to secure more funds from the Bank. This is according to Fily Sissoko, Resident Representative of the lender in Togo.
"This is an extremely important score because it also allows us to mobilize even more resources," said Fily Sissoko. Moreover, "This score far exceeds the World Bank's IDA country average...
The ECOWAS Bank of Investment and Development (EBID) currently evaluated several projects for Togo. The Bank’s president, George Agyekum Donkor, made the statement on October 2, after a board meeting of the EBID.
"Togo will get a fair share of our resources once the projects are ready and have gone through the credit process. We have a list of projects for Togo, and these projects are under...
Enselme Gouthon is the new president of the International Coffee Organization (ICO). The Togolese was appointed last Friday, September 29, during the 5th World Coffee Conference in India.
With 40 years of experience in the coffee industry, Gouthon takes the place of Max Massimiliano Fabian. Some of the challenges that the ICO’s new president will face include ensuring the sector’s...