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On the night of July 7 to 8, two trucks were seized in Sokodé as they were exporting food from the country, without the necessary authorization.
The trucks carried 25 tons of food: 251 100kg-bags of gari and tapioca. The goods will be sent to the ministry of local consumption for further procedures,” said Fioklou-Toulan Erick, Regional Manager of the Central Customs
This seizure, the...
In 2019, Togo fully started its decentralization, holding municipal polls for the first time. In this article, Togo First looks at how the country’s territorial communities financed themselves and how they spent their budget since that year.
At the dawn of the decentralization era in Togo, in 2019, a record was set by the nation’s territorial communities. They mobilized CFA21.4 billion in...
From January to June 2022, 7,195 new businesses were registered at Togo’s Center for Business Formalities (CFE). That is 1.5% lower than the number recorded over the same period in 2021.
Out of the 7,195 businesses created last semester, 6,092 were registered by Togolese and the rest by foreigners. The man-to-woman ratio is 59% (4,288) to 41% (2,907), with men leading. Also, natural...
Last week, the ministry of trade, in collaboration with the directorate of metrology, conducted an unannounced visit to check if gas pumps in service stations meet commercial measurement standards. The operation was carried out in the greater Lomé area.
Agents of the directorate of metrology were the ones who carried out the operation. They used reference materials to ensure that measuring...
The Industrial Platform of Adétikopé (PIA) announced an app that traces organic products.
“The application will provide Togolese farmers with details regarding all cultivation steps, as well as on the location of plantations using integrated geolocation functionalities,” the PIA said in a note published at the beginning of the week.
With this tool, farmers will quickly...
Over the next three years, Africa will get $65 billion from the International Development Association (IDA), the World Bank’s arm that helps the world’s poorest countries. This amount represents 70% of the $93 billion support package that IDA committed under its IDA20 replenishment program.
In Africa, 39 countries, including Togo, will be covered by the program which extends to...
Lomé Container Terminal (LCT) will expand its terminal with €50 million (CFA32.79 billion). Besides the expansion, part of the money will serve to buy equipment, including cranes and trucks.
Expansion works at the terminal started last Friday, July 8, in the presence of Edem Tengue, minister of maritime economy. They will yield a storage space spanning five or six...
Seven people were killed by a deadly blast in northern Togo last Saturday night. The incident, according to the country’s armed forces, happened in the Tone prefecture (Savanes region).
An investigation was started to identify the cause of the explosion, shortly after members of the Koundjouaré unit were deployed to rescue the injured.
"An investigation has been opened to clarify...
In Togo, 11 out of the 16 fully-public companies generated a turnover of CFA167 billion in 2021. That is 11.5% more than in 2020 when they generated CFA149.8 billion.
The increase was driven mainly by three companies: UTB (which is being privatized), the Autonomous Port of Lomé (PAL), and LONATO.
Together, these three firms generated CFA154.3 billion, or 92% of the total reported for the...
The government of Togo wants to set up a free-trade zone in its textile and clothing sector. The Council of Ministers held last Wednesday examined and adopted a draft bill that aligns with this goal.
“This draft bill defines an incentive framework for the textile and clothing industries. It is part of efforts to make the legislative framework for investment more attractive, hence...
Gathered last Thursday, the council of ministers of Togo assessed and adopted a draft bill amending laws in favor of strengthening women’s rights in the country.
The Council, in line with its ambition to promote equal rights between women and men, approved the draft bill. The latter aims to “further strengthen the rights of women in the areas of marriage, maternity, work, protection against...
Togo raised CFA30 billion on the WAEMU market last Friday, July 8. The country issued recovery bonds with maturities of three and seven years.
In detail, CFA20 billion was retained on the five-year bond and the remaining CFA10 billion on the 10-year bonds.
According to the WAMU securities agency, regional investors mobilized more than CFA87 billion for this operation. This corresponds to...
As part of its contribution to Togo’s recovery from Covid-19, Orabank reiterated its ambition to support the country’s agricultural sector and financial inclusion.
Guy Martial Awona, MD of Orabank Togo, disclosed this ambition during a meeting with PM Victoire Tomegah-Dogbe, held on July 5 in Lomé.
“We discussed several issues, mainly financing the economy in the areas of...
Togolese government supplies 82,000 t of fertilizer to farmers for the ongoing agricultural campaign
For the 2022-2023 agricultural campaign, the government of Togo provided 82,000 t of fertilizer to farmers across the country. This is about 7% more than the 76,000 t initially announced.
In detail, the supplies include 43,000 t of NPK and 39,000 t of urea. They add to 3,000 t of certified seeds that were distributed to various regions at a subsidized price of CFA18,000 (for a bag of...
The National Federation of Cotton Farmers of Togo (FNGPC) increased its shareholding in the New Cotton Company of Togo (NSCT). From CFA800 million, the Federation’s stake now stands at CFA6 billion, which represents nearly 25% of the firm’s total shareholding.
The news was disclosed at the FNGPC’s ordinary general meeting, held last week in Lomé. On the same occasion, financial and budget...
Togo now has a national agency for the development of micro, small, and medium enterprises (MSMEs). The related decree was issued on July 7, 2022, during the council of ministers.
The new agency aims to centralize and steer all SME support initiatives in a “coherent and structural way.”
“Its launch will help better control and monitor all financing actions aimed at fostering SMEs’...