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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...
The Bank of Africa Group (BOA) recently obtained $77 million (about CFA46 billion) from the International Finance Corporation (IFC). IFC announced the news on April 3, noting that the facility would cover half of the risks on a $154 million loan portfolio dedicated to SMEs in 10 African countries, including Togo.
The nine other countries are Benin, Burkina Faso, Côte d’Ivoire,...
French Secretary of State in charge of the Francophonie, Chrysoula Zacharopoulou, was in Togo last week, as part of a working visit. On the occasion, she signed financing agreements to rehabilitate the University Hospital Centers (CHU) of Kara and Lomé. The documents were inked on March 31, 2023, by the French official and Moustafa Mijiyawa, Togo’s Minister of Health.
Mijiyawa said the...
By the end of 2023, Togo could host an international seminar on disarmament in Africa. The seminar was announced, Tuesday, by the African Union's High Representative for Arms Reduction, Mohamed Ibn Chambas, who is currently visiting Lomé.
The seminar, whose details are to be worked out with the government, will enable significant advances in the implementation of the continental...
Four years after its deployment, SOFIE (Suivi des Ouvrages de Forage et des indicateurs pour l'Eau), the digital program that allows the population to quickly report issues on water infrastructures has reached 366 cantons out of the 394 in the country.
Since its launch in 2019, the program has connected 9,052 public boreholes to its monitoring platform, below the 9,460 initially...
Togo will conduct the electoral census in preparation for the upcoming regional and legislative elections from April 29 to June 3, 2023. This census schedule, proposed by the Independent National Electoral Commission (INEC), was approved by a decree issued during the April 5, 2023, ministerial council.
The census, which will be preceded by the training of census agents (data entry...