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The International Finance Corporation (IFC) has invested €15 million in the Joliba Fund I, which is managed by Abidjan-based private equity firm Joliba Capital. The World Bank’s private sector arm announced the investment on September 13.
In its press release, IFC noted that most (80%) of the facility should support SME growth in several countries, including Togo. Other countries...
Passenger traffic at Lomé’s Gnassingbé Eyadema International Airport(AIGE) stood at 632,083 heads over the first half of 2023. According to a report published by the Directorate General of Budget and Finance (DGBF), this is 25.3% more than the 472,166 people recorded between January and June 2022.
The DGBF’s report attributes the surge to the opening of new routes, such as the Lomé to Sao...
Lomé will host the 14th Conference of Ministers in charge of Employment and Vocational Training of the West African Economic and Monetary Union (UEMOA) on September 15. The meeting will focus on identifying common strategies for boosting youth employment in WAEMU States.
The conference’s theme is: "Labor market information system: what strategies for better socio-professional...
Togolese companies should integrate intellectual property into their business strategy. This, according to the Minister of Trade, Rose Kayi Mivedor-Sambiani, would make them more competitive, at the continental level. The official made the statement on the sidelines of the 24th African Day for Intellectual Property, on September 13.
"Intellectual property is a crucial issue for businesses," said...
Investments in Togo have risen steadily over the past five years. According to the latest economic data available, they grew by 4.5% on average to about 20% of the GDP in 2022.
The rise, according to the Presidency, was induced by pivotal reforms and infrastructure modernization, in a context where more efforts are being made to boost the private sector’s capacity to attract...
The Togolese Minister of Youth, Myriam Dossou-d'Almeida, is in London. The official is attending the 10th Commonwealth Youth Ministers' Meeting which opened on September 12 and closes on September 14.
On September 11, Dossou-d’Almeida discussed with the Commonwealth’s Secretary General, Patricia Scotland, the prospect of the organization's support for young Togolese in the fields of...
Throughout the first half of the year, Togo’s budget expenditures stood at CFA846.21 billion. According to the General Directorate of Budget and Finance (DGBF) that disclosed the figure in its "Rapport d'exécution du budget de l'Etat à fin juin exercise 2023", it is 22.84% more than the State spent over the first six months of 2022–that is CFA632.06 billion.
According to the report, the...
Last weekend, Togo's Comité de réflexion sur la stratégie intégrée de lutte contre la drogue et les substances psychoactives chez les jeunes (Committee for Reflection on the integrated strategy to combat drugs and psychoactive substances among young people) announced several measures to protect the country's youth against addictions. The measures include air and land border controls, and...
Togo hosted the first Youth Delivery Lab (YDL), a roundtable dedicated to the Togolese youth, last Saturday, September 9. Organized by the Youth for Youth Association (Y4Y) and chaired by the minister, secretary general of the Presidency, Sandra Ablamba Johnson, the event gathered more than 500 young people.
The meeting’s theme was "Transforming Local SMEs into National Champions: key...
Togo secured a €35 million loan from the French Development Agency (AFD) to continue its coastal protection works along the 7km-long axis going from Gbodjome to Agbodrafo.
The related agreement was inked last Friday, September 8, by the Togolese minister of finance, Sani Yaya, and France’s ambassador to Togo, Augustin Favereau. Several important figures were present, including the...
The Islamic Development Bank (IsDB) has approved a €128.17 million financing for Togo, to fight coastal erosion. The Bank’s Board approved the facility during its 352nd meeting held on September 9, in Jeddah, Saudi Arabia.
No additional detail regarding the funding has been disclosed so far, but it adds to similar facilities provided by the AFD (€35 million) and Invest...
The Women Unions Federation of Kozah (FUGFK) in northern Togo loaned CFA106.4 million to its members in 2022. The Federation disclosed the figure last week, during its general ordinary assembly.
According to the FUGFK, the total amount breaks down into CFA75.3 million for commercial activities and CFA31.1 million for farming activities. Overall, the Federation approved 71% of the loan...
Lomé will host the 8th Africa SME Champions Forum on October 5 and 6. Organized by a Togolese, Didier Acouetey, CEO of AfriSearch, the forum aims to support SME growth in Africa. It is a platform for sharing ideas, collaboration, and exploring new opportunities for SMEs.
About 500 participants are expected this year. They include experts, business leaders, financial...
From the beginning of the year to August, revenues mobilized by the Togolese Revenue Office (OTR) stood at CFA648 billion. That is about 71% of its target for 2023, which is CFA912 billion. The OTR disclosed the progress on September 11.
Over the past eight months, the OTR surpassed its previous year's result by 109%, with a growth of 12%. According to the Office’s Commissioner General...
The Togolese Minister for the Promotion of Investment, Rose Kayi Mivedor, is in Dar es Salam, Tanzania. She is attending Africa’s Food Systems Forum 2023 (AGRF) which started on Tuesday, September 5, and ends today, September 8.
Mivedor, on Thursday, told the forum’s participants about business opportunities available in Togo. Among others, she said her country positions itself as West...
The works to rehabilitate the 10 km-long road going from Avepozo to Togokome are complete. The Minister of Public Works, Zourehatou Kassah Traore, visited the site on Wednesday, September 6.
The Minister, on the occasion, noted that the completed works met the specifications imposed. CRBC and Soroubat, respectively a Chinese and Tunisian firm, were in charge of these works.
"We have...