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For its third issue on the regional market–UEMOA securities–this year, Togo raised CFA34 billion. This is one billion less than its target for the operation, a simultaneous issue of fungible treasury bills and bonds.
Twenty-five (25) investors took part in the operation, according to a report released by the UEMOA securities agency. They mobilized a total of CFA56 billion, out of which...
In Togo, the funds allocated to the Covid-19 Response and Solidarity Fund (CRSF) were used appropriately. This is the conclusion of an audit report issued on February 1, 2023, by the Court of Auditors of Togo.
Commenting on the report’s results, the government in a press release dated 9 February 2023 said it “is pleased that this report revealed that spending related to barriers,...
Over the past year, the government of Togo allocated CFA1.27 billion to its ministry of social action. Most of the funds (99.28%) were used up and helped finance projects that impacted more than 800,000 people, including nearly 500,000 girls and women.
The ministry of social action disclosed the details after the annual review of the ministry which was held last week in Sokodé. Main and remote...
The Togolese ministry for investment promotion is in a meeting with a group of British investors presently in Togo. The meeting started yesterday and closes today.
The British investors came as part of a trade mission initiated by DMA Invest. Backed by UK Export Finance (UKEF), the mission covers several African countries.
On the first day of the talks, Togo’s minister in charge of...
Togo now has a National Committee for Sustainable Development (CNDD). The body was set up in line with the government’s environmental protection policy, and it started operations on Feb 8.
In accordance with the AFR100 forest and landscape restoration initiative, the new committee will tackle environmental, economic, and social issues that hamper the efficient management of Togo’s natural...
Togo launched on February 8, 2023, the Good Financial Governance (GFG) project. As its name suggests, the project’s purpose is to support Lomé’s ambition to better manage and monitor public finances, and deal with corruption.
The project will mainly help steer reforms related to public finances, in tandem with the ministry of finance. It should also help boost the capacities of the...
CBI Togo, a subsidiary of Coris Bank International, closed 2022 with CFA900 million of loans granted and about CFA1,600 billion collected, in its Islamic finance segment.
CBI Togo’s top management recently disclosed the figures at a press briefing led by Ousmane Kaboré, the bank’s boss. The briefing followed the 5th meeting of the Internal Control Council of CBI Baraka, in charge of...
The Togolese minister of investment promotion, Rose Kayi Mivedor, met with the US ambassador in Togo, Elizabeth Fitzsimmons, last week, on Feb 1. According to the ministry, the two women talked mostly about the Togolese business climate and US investments in the African country.
Mivedor and Fitzsimmons assessed the level of cooperation between their countries relative to investments. They also...
Over the past two years, Togo’s aquaculture output grew by 57%, from 730 t in 2020 to 1,151 t in 2022. The ministry of maritime economy disclosed the data on Feb 7, 2023.
The ministry of fisheries, for its part, said Togo recorded the growth because it is investing heavily to support aquaculture”. The government, indeed, supports fishermen by providing them with equipment, like motorized...
The 8th Edition of the WAEMU Banks and SMEs (SBMPE-Uemoa) fair launched yesterday, Feb 7, in Lomé. The launching ceremony was chaired by Togo’s minister of trade, Kodjo Adedze.
The 4-day event gathers experts, employers, SME managers, representatives of banks, microfinance, and insurance organizations, as well as project promoters. Held both physically and online, it centers on the...
Togo has been temporarily suspended from the Extractive Industries Transparency Initiative (EITI). The organization's Board of Directors blames the country for failing to publish a report on its extractive activities in 2020.
Two other countries were suspended for the same reason: Kazakhstan and Mexico. The three countries failed to produce the report before the set deadline (December 31,...
Nineteen (19) people won the Togo Top Impact Awards this year. The list was unveiled last Saturday, Feb 4, during a gala dinner at the Sarakawa Hotel in Lomé. Several officials were present.
President Faure Gnassingbé was among the award winners. He won the African Personality of the Year 2022 award, for promoting peace and mediating in the Mali-Côte d'Ivoire crisis.
Other winners include...
Togo’s power utility (CEET) launched, on 20 January 2023, a census of its customers’ meters. The project will allow the State company to have a digital map of its customers and supply equipment.
With the data collected during the census, the CEET will develop a reliable geolocalization system covering Lomé, Tsévié, Kévé, and their surroundings.
The campaign is part of the Togo...
Next Friday, Feb 10, Togo will try to raise CFA35 billion on the WAEMU stock market. This will be the country’s third issue on the regional market this year.
According to the operation’s details, Lomé will simultaneously issue fungible treasury bills and bonds. Regarding the bonds, they have a nominal value of CFA10,000 and will mature over 3 and 5 years, with respective interest...
Land subdivision in Togo is subject to approval from the ministry of urban planning, housing, and land reform. The reminder came via a press release issued last week by the agriculture, economy, security, urban planning, and territorial administration ministries.
“Any subdivision operation, involving the voluntary division of a plot of land into one or more parcels, is subject to prior...
Togo plans to restore the Koutammakou landscape, a UNESCO cultural heritage site. The estimated cost of the works is CFA3 billion, according to the related feasibility study recently approved by the Togolese ministry of culture and tourism and its partners.
In detail, the project involves restoring the landscape’s forest, and building attractive infrastructures, notably a hotel complex...