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Togo raised only CFA16 billion on the WAEMU-securities market last Friday, July 14. The country was seeking CFA30 billion through the issue of fungible bills and bonds of the treasury (BATs and OATs in French).
According to the issue’s report, the bonds or OATs generated CFA14 billion. They mature over 3 and 5 years. As for the bills or BATs, they earned Lomé the remaining CFA2 billion....
A new bus station was inaugurated last week, on July 12, in Kara, northern Togo. The ministers of trade and transport, Kodjo Adédzé and Affoh Atcha-Dédji, both attended the inauguration ceremony. Launched in 2017, the project cost CFA1.2 million. Its goal is to modernize transport in Kara.
“The effective and long-term operation of this bus station will, I am sure, contribute to...
Togo celebrated World Population Day, on July 11, by launching the 2023 Global Population Status Report. Adjovi Lolonyo Apédoh-Anakoma, Minister of Social Action, Women's Protection, and Literacy, attended the ceremony. There were other key stakeholders, such as representatives of the United Nations Population Fund (UNFPA) which initiated the report.
Titled "Eight Billion Humans, An Infinite...
Since they partnered two and half years ago, the Togolese Ministry of grassroots development and Ecobank have financed 32 young native entrepreneurs with CFA1.78 billion. This is out of CFA4.72 billion of requested financing.
The figure was recently disclosed by Myriam Dossou-d’Almeilda, the minister of grassroots development. The official spoke during a meeting between Ecobank’s local...
Togo is looking for a third party to hand over its land register digitization project. The country’s Ministry of Economy and Finance recently launched an international tender to hire this party.
According to the tender notice, consulted by Togo First, the successful bidder must complete the task within 3 months, after securing the deal.
The tender should help modernize Togo’s...
Togo should soon have Citizen offices that will facilitate dialogue between municipal authorities and their constituents.
The Minister of Territorial Administration, Decentralization, and Territorial Development, Payadowa Boukpessi, recently issued a decree to establish these structures. They will collect citizens’ expectations, concerns, and suggestions and relay them to mayors, thus...
Togo’s Telecom Watchdog, the ARCEP, earned the State CFA4 billion in 2022, up from 3.94 billion in 2021. This is according to the latest official data.
The regulator has, since 2020 and under the leadership of Michel Yaovi Galley, launched several sanction procedures that yielded three warnings and three major fines.
The operators most affected by the sanctions were Togo Cellulaire,...
From CFA14.6 billion in 2021, Togo's State financial holdings grew by 6% in 2022, reaching CFA15.5 billion. The figure, which was disclosed in a report obtained by Togo First, ends the downward dynamic that started in 2018. That year, the country’s financial holdings were estimated at CFA27 billion.
Despite the recent increase, the State’s dividends still fall short of the government’s...
Earlier this week, the East-Mono 1 municipality adopted its preliminary budget for the year 2023. The budget amounts to 145.36 million FCFA. The announcement was made on the sidelines of the works of the third 2023 municipal council session, which opened on Monday, July 10, in Elavagnon.
The overall budget breaks down into 58.85 million FCFA (40.48%) as the operating budget and CFA85.51...
The USA has disbursed a $3 million humanitarian aid package for people affected by the terrorist attacks in Northern Togo, and those who had to move because of them. The announcement, made on July 10, 2023, notes that the package is supplied by USAID.
Mainly, the funds will support over 460,000 people facing food distress.
"Thanks to this financial contribution, the USAID’s...
The Reinsurance Company of the Member States of the Inter-African Conference of Insurance Markets (CICA-RE), based in Lomé, recorded a turnover of over FCFA 106 billion for the 2022 financial year. Year on year, the figure grew by 10.4%, with a result of CFA8 billion. These results were presented to the public and shareholders at the Company’s 41st Ordinary General Assembly held in Lomé on...
Pierre Antoine Legagneur is TogoCom’s new boss. He took over from Tarik Boudiaf, who had been acting as interim CEO since Paulin Alazard's resignation in August 2022. The rumor was confirmed last Friday by the Axian Group, which holds 51% of TogoCom.
"I am pleased to announce the appointment of Pierre-Antoine Legagneur as CEO of TogoCom. I am convinced that he will bring real added value to...
Factoring financing almost tripled in Togo between March 2022 and March 2023, from CFA7 billion to CFA19 billion. The figure was recently reported by Minister of Finance, Sani Yaya, at the National Credit Council.
The official also noted that leasing credits stood at CFA23 billion at the end of March 2023, nearly twice the amount recorded at the end of March 2022.
By comparison, the...
Launched in 2018 in Togo, the WACA Resip program has invested a total of 431 million FCFA in community forest management, according to data consulted by Togo First. These funds were poured into five sub-projects that aim to help Togo better preserve and manage its forest resources.
Five sub-projects
The investments break down into 89 million FCFA for the conservation and sustainable management...
At the end of May 2023, Togo had an inflation rate of 5.8%, compared to 8% a year earlier. According to the National Credit Council (CNC), which disclosed the figure, the improvement was driven mainly by two factors.
The first is "the good results of the previous agricultural campaign (2022)”. Reporting a better agricultural output, the CNC said it “has allowed for favorable market...
Over the first half of the year, Togo raised CFA414 billion on the WAEMU market. That is 72% of the country’s target for the year–CFA574 billion.
In detail, Lomé raised CFA211 billion on the regional stock via Treasury Bills (BAT), following 13 public securities issuances. The remaining CFA203 billion were obtained via 24 issuances of Treasury Bonds (OAT).
In Q1 2023, Togo...