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In the previous quarter, 3,450 new businesses were registered at the Center for Business Formalities of Togo (CFE). This is 1.3% lower than the figure reported by the CFE last year, over the same period: 3,495.
In detail, out of the 3,450 businesses registered in Q3 2022, 2,897 were registered by Togolese and the rest by foreigners. Relative to the men-to-women ratio, 2,508 businesses were...
In Togo, Orabank’s clients can now access banking services via WhatsApp. The lender launched the service yesterday, October 10, 2022. This is the fruit of an agreement signed last March, by the Oragroup and Semoa, the Lomé-based startup behind the technology.
In detail, the bank’s clients can now check their balance and request a statement, on WhatsApp. They can also transfer cash to...
M Auto, a firm that makes and sells electric bikes, wants to help Togo transition to electric mobility. The company said so in a statement dated October 11, 2022, relayed by the Ecofin Agency.
"M Auto wants to help drastically reduce greenhouse gas emissions and promote a more virtuous mobility in Togo," the company wrote. M Auto claims to have sold and put into circulation 2,000 of its electric...
Ahead of the fifth general people and housing census (RPGH-5), scheduled for this month, 74,629 “basic socio-collective infrastructures” have been geolocalized across the country. Related works took place between July 2021 and April 2022.
The figures concern schools, health centers, banks, shops, water and sanitation facilities, and leisure and culture spaces. They were disclosed by the...
Last Friday, Oct. 7, Togo was picked to head the International Coffee Organization (ICO) in 2023. The Togolese Enselme Gouthon was elected, unanimously, as Vice President of the ICO. The election took place during the 134th session of the Council, in Bogota, Columbia.
Togo will take the place of Italy whose term will end in September 2023.
Les membres du conseil international du café (OIC)...
Togo exported CFA153.7 billion worth of goods in Q1 2022, up 9.4% YoY.
Burkina Faso was its biggest buyer over the period. It grabbed 17% of all Togolese exports in the first quarter of this year, according to the latest figures released by the National Institute of Statistics and Economic and Demographic Studies (INSEED).
Despite the military-political crisis it experienced...
Thanks to various measures, the Togolese economy has been resilient to ongoing global crises. Sani Yaya, the country’s minister of economy and finance, said so at the opening of the session of the National Credit Council (CNC) which he chaired on October 6, 2022, in Lomé.
According to Yaya, Togo’s public debt has been kept under control, at 61% between the end of 2021 and the middle of...
Between 2011 and 2022, Togo hosted over 14,000 French volunteers who carried out various missions in the country. The National Representative of France Volontaires in Togo, Telngar Rassembeye, revealed this last Friday during the French Volunteer Day.
According to France Volontaires, the number of French volunteers in Togo, increased from 333 in 2011 to 1051 and 1206 in 2017 and 2019,...
In a week exactly, on October 14, Togo will proceed to its first issue on the regional money market for this quarter. According to the schedule released by the UMOA-securities agency, the country will try to raise CFA30 billion through a simultaneous bond issue, with securities having a nominal value of CFA10,000.
Interest rates for the two issues are respectively 5.75% and 5.90% per year....
In Togo, authorization from the government is still necessary to import and use a drone. The reminder came earlier this week, from the ministers of civil security and armies Yark Damehane and Essozima Marguerite Gnakade.
"For some time, the security services at the borders or on the national territory have been confronted with the phenomenon of importing or anarchic use of drones, both by...
More than 2,000 people have been trained at the Garment Training Center -GTC of the PIA-Togo in the past 16 months. The figure was disclosed by sources close to the matter.
According to GTC’s manager, Sathiyamurthy Rajamanikkam, sales of clothes produced at the facility could begin next January.
Initially, the executive added, the made-in-Togo clothes produced at GTC will be sold...
In the first half of this year, loans to micro, small, and medium enterprises (MSMEs) rose, YoY. Sani Yaya, Togo’s minister of finance, revealed the improvement on October 6, 2022, during a review of the bank and finance sector. The review took place during a meeting held by the National Credit Council (CNC).
“Over the first six months of 2022, the amounts of new loans to micro, small and...
South Korea wants to boost its trade with Togo. Lim Jung-Tae, the new Korean ambassador to Togo, told President Faure Gnassingbé about this ambition on October 6, 2022. This was while presenting his credentials to the West African leader.
“During my mandate, I will do my best to bolster economic and political relations between our countries, Jung-Tae said at the meeting. “For now, many...
In Africa, the penetration rate of insurance products is low, according to Togo’s finance minister, Sani Yaya. The official made the statement last Monday, at the launch of the 26th African Reinsurance Forum in Lomé.
“The challenge is to bring even more inclusion to the insurance industry. Insurance should no longer be a luxury or for people who belong to a certain social class,”...
The 26th African Reinsurance Forum began in Lomé last Monday, October 3. Organized by the African Insurance Organization (AIO), the event is themed: “Sustainable growth: the role of African reinsurers in economic growth and development.”
Held at the 2 Février hotel, the forum gathered reinsurers from companies like CICA RE, Africa Re Group, and Société Sénégalaise de Réassurance...
Togolese authorities plan to create a new town to relieve congestion in the Grand Lomé area. The project was announced by the minister of urbanism, Koffi Tsolenyanu, on World Habitat Day (October 3).
According to the official, the project will be developed in Kpomé, in the Zio 1 municipality, over 1,177 ha. The minister said the city will help “increase Togo’s housing stock, thus...