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The Chamber of Commerce and Industry of Togo (CCI-Togo) and the National Chartered Accountants Order of Togo (ONECCA) signed Thursday, February 2, 2023, in Lome, an agreement to facilitate access to accounting services to MSMEs, SMEs, and SMIs.
Through this agreement, the two organizations want to strengthen the mission of the Certified Management Center (CGA in French).
Consequently,...
Today ends a 3-day WAEMU expert meeting on financing sustainable and resilient agriculture. The meeting, held in Lomé, was initiated by the Banque Ouest Africaine de Développement (BOAD) and the Green Climate Fund. The two organizations teamed up to help WAEMU countries in the transition process to resilient agriculture and low greenhouse gas emissions.
Participants gathered at the...
Togo plans to dedicate CFA13 billion to food security this year. The amount is fixed in the 2023 finance bill and represents 25% of the total budget allocated to the ministry of agriculture in 2023.
“We must feed ourselves, live from our agricultural activities, and provide for ourselves and our families to better invest in the economic development of the country,” said President Gnassingbe...
The Regional Emergency Solar Power Intervention Project (RESPITE) is online. The project, which aims to boost access to electricity in Togo, Sierra Leone, Chad, and Liberia, kicked off last Tuesday in Freetown, Sierra Leone.
"Today, our countries are taking a bold step in the right direction. RESPITE is the beginning of a revolution in energy supply and access," said Julius Maada Bio,...
Over the next three years, “Moi Jeu Tri” a Togolese association specializing in waste transformation, will boost its operations with a grant of €1.125 million. It secured the facility from the French Development Agency (AFD) and the related agreement was signed on January 31, 2023, in Lomé, in the presence of several Togolese diplomats and representatives from international...
The ECOWAS Bank for Investment and Development (EBID) recently secured a dual-currency line of credit from the African Development Bank (AfDB). The facility, comprising $50 million and €50 million, will finance trade within ECOWAS.
The AfDB’s board approved the credit line on January 24, in Abidjan. An additional co-financing of $30 million will come through the Africa...
The government of Togo will allocate CFA21 billion to its Universal Health Insurance (UHI) project this year. The sum, set in the 2023 Finance Law, is 10% higher than that forecast (CFA19 billion) for the same project in 2022, and it represents 16% of the health ministry’s budget in 2023 (CFA127 billion).
With the increased allocation, the UHI should be implemented faster. This is as the...
In addition to large companies, financial institutions, and NGOs, Société Générale Togo now does business with MSMEs. The lender announced the update on Facebook.
The move should expand SGB’s scope of action in a market currently dominated by Orabank, Ecobank, and Coris Bank, in terms of balance sheet size.
In 2021, the trio posted assets of CFA735 billion, CFA558...
From now on, the chairman of the Chamber of Commerce and Industry of Togo (CCI-Togo) no longer has a salaried status. However, all professional expenses (trips) incurred by the chairman will be taken care of. This is one of the few reforms announced on Jan 30 by the Chamber’s special consular delegation. The reforms were presented to economic operators.
As part of the new reforms...
The World Bank Group plans to mobilize CFA95 billion for social projects in Togo. The Bank’s representative in the country, Fily Sissoko, made the announcement last Friday, 27 January, in Lomé. This was during a meeting covering the new Country Partnership Framework between the financial institution and the Togolese government.
Part of the funds will finance health, education, energy,...
Togo must strive to achieve food self-sufficiency to accelerate its economic development. Faure Gnassingbe, the Togolese president, voiced this opinion last Saturday, at Tsévié, as the second part of the Agricultural Producers Forum was closing.
We must feed ourselves, live from our agricultural activities, and provide for ourselves and our families to better invest in the economic development...
In Togo, the price of diesel and Jet A1 has fallen slightly. For diesel, the price is down to CFA775 from CFA850 FCFA per liter. As for jet fuel which is used by airplanes, its price has dropped from CFA654.41/liter to CFA615.41.
The change was disclosed in an interministerial order dated January 28, 2023. The latter was issued by the Ministers of Trade, Energy, and Transport, respectively Kodjo...
To better help banks and financial institutions tackle cyberattacks, Togo’s cybersecurity agency (ANCY) recently organized an awareness-raising and training workshop. Held on January 27, the event targeted actors from banks and microfinance institutions.
It was organized in partnership with Cyber Defense Africa and focused on cybersecurity and its challenges. The workshop notably covered...
Lomé will host the 8th edition of the UEMOA Small and Medium Enterprises and Banks fair on Feb 7-10, 2023. The event’s theme is "Financing and Investment of UEMOA Small and Medium Enterprises, amidst the crises and changes of economies."
According to recent information, participants will be able to attend in person or virtually. "In the interest of always favoring very accessible...
Togo obtained CFA30 billion in its second issue on the WAEMU market this year. The country retained the amount out of CFA46 billion mobilized by regional investors.
In detail, Lomé retained CFA16 billion from the issue of fungible treasury bills with a maturity period of 182 days. The remaining 14 billion breaks into 11 billion and 3 billion raised from fungible treasury bonds, maturing...
Togo: Revenues of the Road and Rail Transport Office almost doubled within five years ending in 2021
The Road and Rail Transport Office of Togo (DTRF) generated over CFA3.9 billion in revenues in 2021 (by the end of November). The entity disclosed the figure last Wednesday, Jan 25, 2023.
The DTRF attributes the mobilization to several activities such as the registration of motor vehicles, the organization of the examination and issuance of driving licenses, technical inspections of...