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The Public Administration Savings and Credit Cooperative (CECAP) in Togo announced positive annual results at its ordinary general assembly, held on May 20 in Lomé, according to the Togolese Press Agency (ATOP). During the meeting, the cooperative's members reviewed and adopted its moral report, credit committee report, financial report, and supervisory board report.
Net Profit surges 11%
The...
Lomé is hosting a Pan-African forum that gathered Designated National Authorities (DNAs) from 23 countries that adhere to the Pan-African Readiness initiative. The forum is steered by the Africa Adaptation Initiative (AAI). Launched on May 23, the forum aims to define strategies for better access to climate financing in African states.
During the 3-day meeting, the DNAs will deepen their...
Preparations for the 9th Pan-African Congress which Lomé is set to host next year officially began on May 22. The launch ceremony was attended by several officials from Togo and the foreign affairs ministers of South Africa and DR Congo. Togolese PM, Victoire Tomegah Dogbé presided over the ceremony.
The Congress should take place between October and December 2024. Organized by Togo...
Now that it is eligible for the Millennium Challenge Corporation (MCC) Compact Program, Togo wants to take advantage of opportunities offered by the United States International Development Finance Corporation (US-DFC). It aims to do so through the American Catalyst Facility for Development (ACFD), a facility that funds development projects in Africa. In this framework, the Togo MCC Compact...
Works to renovate and asphalt the 10 km long road that connects the Adétikopé Industrial Platform (PIA) to its extension zone in Kpomé, are 55% complete. This was reported during an on-site visit conducted by Zouréhatou Kassah-Traoré, the Togolese minister of public works, on May 19, 2023.
Regarding the deadline of the project, the ministry indicated that 66% of the time allotted has...
Fatou Diallo Ndiaye is the new resident representative of the International Organization for Migration (IOM) in Togo. She officially presented her appointment letter to the Togolese minister of foreign affairs, Robert Dussey, last week.
Appointed several months ago, Ndiaye will cover Togo, Benin, and Ghana. She will mainly handle migration issues in these countries and ensure good...
The Lomé Container Terminal (LCT), the main container terminal of the port of Lomé, will soon receive a new towing vessel. The news was disclosed by Antonio Bordils, CEO of Boluda Towage, a global leader in towing and the company that is providing the boat.
According to the Port of Lomé, Bordils was speaking with Togo’s Minister of Maritime Economy, Edem Tengue, on May 16th. The businessman...
The President of Togo, Faure Gnassingbé, attended yesterday, May 22, the inauguration of the Dangote Oil Refinery in Nigeria. He was there with several other African leaders.
The refinery, which is named after its owner, Aliko Dangote, is located in the Lekki free zone, near Lagos. Spanning 2,635 ha, the refinery can process 650,000 barrels per day. It will produce gasoline, diesel, jet fuel,...
Togo successfully carried out its second issue on the regional money market last Friday, May 19. The country’s treasury raised CFA31 billion from the WAEMU investors, by simultaneously issuing fungible bonds and bills.
The operation’s report states that Lomé raised CFA20 billion via the bills which mature over 182 days, and the remaining CFA11 billion was raised via the bonds, which...
Togo ranked 162nd in the 2022 Human Development Index (HDI), with a score of 0.539. According to the UNDP, which published the report, this is “significant progress” compared to the year before when the country ranked 167th (with a score of 0.515).
The progress was disclosed last Friday, by the UN agency which launched the report that day. The launching ceremony was presided over by Sandra...
More foreigners are starting up businesses in Togo. Last year, out of the 13,835 new businesses registered at the Business Formality Center (CFE in French), 2,176 were created by foreigners. The number is 1.6% higher than that recorded in 2021.
Among foreigners who officially set up a business in Togo in 2022, Nigeriens (from Niger) came first with 402 businesses. Right behind were...
The recently-retired CEO of Ecobank Transnational Incorporated (ETI), Ade Ayeyemi, was made Commander of the Order of Mono on May 18 in Lomé by Faure Essozimna Gnassingbé, Togo’s President. This is the most prestigious distinction of Togolese honorary orders. According to the Togolese authorities, it recognizes the Nigerian’s professional achievements.
Le Directeur général sortant de...
Lomé will host a forum for young entrepreneurs next month, on the 16 and 17. The forum, called National Congress for the Young Entrepreneurs of Togo (CoNJET) was announced on May 17 during a press conference organized by the Association of United Young Entrepreneurs for an Emergent Togo (JEUNE-Togo in French). The event will be held at the Palais des Congrès de Lomé.
The CoNJET is expected to...
Ecobank and Japan Motors launched a car financing offer on 17 May 2023 in Lomé. The offer, aimed at employees and SMEs, should make it easier for the latter to get loans to buy cars.
These car loans range from 8 million FCFA to 54 million FCFA, repayable over up to four years, at a rate of 7.5% to 8% depending on the customer's profile and the repayment period.
According to the...
Togo wants to double the contribution of mining to its GDP by 2025. To do so the country relies on the recovery of its phosphate industry, and its manganese-rich subsoil.
Togo’s government inked with the British firm Keras Resources a deal that will double the mining sector’s share in the country's GDP by 2025. Under the deal, Keras gave up on its operating permit for the...
Shareholders of Ecobank Transnational Incorporated (ETI) approved a dividend payout of $28 million, equivalent to 0.11 cents per share. This decision took place at their annual general meeting held on May 17, in Lomé, Togo.
The challenging economic environment, characterized by escalating inflation and high-interest rates, has led to a 32.25% reduction in dividends compared to the...