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Lomé will host, this week, a key meeting organized by the Economic Community of West African States (ECOWAS). Scheduled for September 6 and 7, the meeting will gather experts from the region’s member States who will review the project to create the ECOWAS Education Agency.
The meeting will focus on the validation of the feasibility study report on this agency. According to a press...
As part of its ongoing biometric ID project, the Togolese government wants to regulate the related data processing and updating. Last Wednesday, Aug 31, the council of ministers examined a draft decree on the modalities of registration, rectification, and updating of demographic and biometric data of individuals and conditions for using the unique ID number in the country.
"This decree defines...
Besides being the bank that provides most loans and gets most deposits in Togo, Orabank has the most clients. In 2021, the lender reported having 327,230 accounts, coming ahead of Ecobank with its 257,274 accounts.
Regarding the year-to-year evolution of the customer base, Orabank was second last year with a 33% increase compared to 2020. It was behind Coris Bank but ahead of BSIC (+14%),...
In the first quarter of this year, the Togolese State mobilized CFA369 billion to finance its expenditures. This is 20.79% of its forecast for 2022. The figure was disclosed in a report recently issued by the ministry of finance, entitled "State Budget Execution Report, Fiscal Year 2022 - End of March."
In detail, the country, between January and March, financed its budget with CFA183 billion...
In Togo, the ministry of grassroots development and youth employment mobilized slightly more than a billion CFA for young local entrepreneurs in the first half of this year. The ministry disclosed the amount on September 1, 2022, in its semestrial report.
Other key figures reported in the document include the number of micro and medium enterprises (MMEs) established over the period...
Togo’s latest operation on the WAEMU’s money market was a success. It raised last Friday CFA33 billion, which is three billion more than it was seeking through the simultaneous issue of recovery bonds.
The CFA33 billion were retained out of around 72 billion mobilized by 30 investors. This represents a subscription rate of 242%.
Bonds issued have a nominal value of CFA10,000 and...
Togo’s telecom regulator, ARCEP, has opened a sanction procedure against Groupe Vivendi Africa Togo (GVA Togo), an Internet Service Provider (ISP) that is part of the Vivendi group. This was revealed last Friday, Sept 2, in a press release.
According to the release, the ISP’s network has been bad in recent weeks and several issues were reported. Thus, the ARCEP accuses GVA Togo of...
The State of Togo spent CFA55 billion on personnel expenses in Q1 2022, against CFA50 billion in Q1 2021. This was revealed in the Ministry of Economy’s "State Budget Execution Report, Fiscal Year 2022 - End of March".
In detail, the funds were used to pay emoluments, allowances, bonuses, family benefits, employer contributions, and all staff expenses covered by the general...
Travelers under 12 are no longer required to show their PCR test results when arriving or departing from the Gnassingbé Eyadema International Airport. This is part of relaxation measures implemented by the Togolese airport, and it was announced by the ministers of health, Moustafa Mijiyawa, and transport, Atcha-Dedji Affoh. The ministers issued a joint statement on August 30, 2022.
The...
The Togolese customs office reduced by 30% clearance fees for vehicles that are more than five years old. The measure will be effective from September 1 to December 31, 2022. This was disclosed by Philippe Kokou Tchodié, Commissioner General of the Togolese Tax Office (OTR), in a statement dated August 31, 2022.
This tax relief aims to free up space at car parks, according to the OTR’s boss....
Rose Kayi Midevor, Togo’s minister for investment promotion, launched last Tuesday the Yearbook Togo 2022-2023, an economic report that showcases the country’s investment potential.
"The Togo 2022-2023 yearbook was published to make economic data accessible and to provide an overview of the achievements, completed and in progress, in the key sectors of our economy," the minister...
On the sidelines of the council of ministers held on August 31, 2022, the Togolese officials held a seminar where they mainly discussed ways to improve microfinance in the country.
President Gnassingbe and his ministers drew a strategy to monitor and improve the sector. Actions laid out under the strategy aim to help struggling microfinance firms deal with the increasing number of illegal...
A united front and large-scale actions. Those are the two wishes expressed last Sunday by Togo’s assembly president, Yawa Tsegan, at the 8th Tokyo International Conference on African Development (TICAD VIII) in Tunis.
“We (Togo) urge our States to come together and reiterate our invitation to partners for more coordinated actions for peace and security,” Tsegan told 5,000 participants...
Through a simultaneous bond issue scheduled for September 2, 2022, Togo will seek CFA30 billion on the WAEMU market.
The bonds, recovery bonds, have respective maturities of five and seven years. They have a nominal value of CFA10,000 and carry interest rates of 5.75% and 5.90% per annum respectively, from the first year.
The upcoming issue targets socially responsible investors,...
Between 2020 and 2022, the Togolese State earned CFA658 million from transhumance in the Anié 1, Haho 1, and Est-mono 1 municipalities (all located in the Plateaux region). This was disclosed last Thursday, by the Intercommunal Association for Development in the Plateaux (AIDAP), during a meeting with its members.
Respectively, the activity generated CFA225 million and CFA432 million in Anié 1...
Togo produced 1.3 million and 1.45 million tons of phosphate in 2020 and 2021, respectively. While still far from its level in the 80s and 90s (+2 million tons), the country has not recorded such performances since 2003.
From 2020 to 2021, the country’s output was up 10%. Sales also shot up to nearly 1.39 million tons last year–the highest since 1999. Both the rise in output and sales are...