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Togo’s Ministry of Water recently announced a multi-purpose dam project in Sarakawa, which is located in the Kara region (northern Togo). The project was revealed on April 15, via a statement.
According to the source, the project will cost about CFA78 billion and will provide electricity and drinking water to the people of Sarakawa and Kara (which is 22km northwest of the...
Alexandre de Souza is the new head of the Togolese Center for Fairs and Exhibitions (CETEF). He officially took office yesterday, April 18, 2023.
De Souza was picked following a tender issued in May 2022 by the Ministry of Trade and local consumption. He took the place of Yakpey Comlan Nomadoli, who took over as interim director after Kueky-Banka Johnson.
As managing director, Alexandre...
Togo recorded an inflation rate of 7.1% in March 2023, up by 0.7% compared to the previous month (during which it fell). According to the National Institute of Statistics, and Economic and Demographic Studies (INSEED), which released the figure, the increase was driven, mainly, by food prices (which rose by 1.3%), and services such as restaurants and hotels (+0.8%). The costs of housing, water,...
In Togo, the Autonomous Port of Lomé (PAL) will spend CFA60 million on its environmental protection strategy this year. The funds will finance several operations falling under the port’s 2023 environmental action plan which was unveiled last week.
Through the plan, the port’s management aims to: boost sanitation at the facility and on ships, sustainably manage pollution and nuisances,...
Bolstered by its recent success in the WAEMU market, Togo will attempt to repeat the experience. Lomé will seek again CFA30 billion on the regional market, through a simultaneous issue of fungible treasury bonds (OATs in French) and fungible treasury bills (BATs). The operation closes on April 24th.
In detail, the Togolese treasury hopes to raise CFA10 billion via the OATs. The securities have...
The Millenium Challenge Corporation and Togo recently reinforced their partnership by signing the $12 million Compact Development Fund agreement. The agreement was signed last Friday, April 14, by the Togolese minister of finance, Sani Yaya, and Cameron Alford, vice president, Compact operations, at MCC. Alice Patterson Albright and Mahmoud Bah, respectively managing director of the...
Togolese farmers and government officials will meet in Kara (northern Togo) on April 17-20, 2023. The town will host the final stage of Togo’s regional fora of agricultural producers (FOPATs).
The participants will review the sector’s performances and challenges its actors face. Also, the government will expose its vision for the structural transformation of Togolese agriculture to the...
President Faure Essozimna Gnassingbé was in Pya, a town located in Kara, in the northern part of the country, on April 12. There, the Togolese leader met with a delegation of officials from neighboring Burkina to discuss the security situation at the border of the two countries.
The Burkinabe delegation was led by Colonel Boukaré Zoungrana, the Minister of Territorial Administration,...
Togo has secured a financing of $100 million (about CFA60 billion) from the World Bank at the institution’s Spring Meetings in Washington. The funds will help the West African nation bolster access to drinking water in Greater Lomé and improve sanitation services in the surrounding area.
Sani Yaya, Togo’s minister of finance, and Coralie Gervers, who heads the World Bank’s operations...
Togo will officially launch the 9th Pan-African Congress on May 22 in Lomé. Robert Dussey, the minister of foreign affairs announced this today, April 13, after a meeting of the High Ministerial Committee on the Decade of African Roots and the Diaspora.
Now the date is known, Togolese authorities should soon begin preparations for the congress. The event was initially announced earlier this...
Togo participated last week in the fifth session meeting of the International Cashew Advisory Council (ICAC), which was held from April 5 to 6, 2023 in Abidjan, Côte d’Ivoire. According to the Togolese Ministry of Trade, which reported the information, the meeting gathered the ministers of agriculture, industry, and trade of the ICAC member countries.
In parallel, the country also took part...
Togo raised CFA113 billion on the WAEMU market in Q1 2023. This is 29% less than it did over the same period last year, CFA160 billion.
In detail, over the past three months, Lomé secured CFA50 billion and CFA63 billion, through fungible treasury bills (BATs in French) and fungible treasury bonds (OATs), respectively.
In Q1 2022, the treasury secured respectively CFA28 billion...
The Nigeria-Morocco mega gas pipeline project could soon materialize. Recently, Nigeria's National Petroleum Company Limited (NNPCL) announced that it will invest $12.5 billion to acquire a 50% stake in the $25 billion infrastructure project.
The pipeline will stretch 5,600 kilometers along the Atlantic coast, running through 13 countries, including Togo. Morocco will host 1,672...
Togo's external debt amounted to CFA1,296.11 billion in 2022. According to the Ministry of Finance, this is 38.84% of the public debt portfolio and more than a quarter (25.32%) of the national GDP.
Multilateral creditors (Bretton Woods institutions, development banks, etc.) hold 58.6% of the country’s external debt. Right behind are commercial lenders who hold 36.8% of this debt,...
Togo: Finance Minister Sani Yaya leads a Togolese delegation to World Bank and IMF’s spring meetings
Togo is taking part in the World Bank and the IMF’s spring meetings which began on April 10, 2023, in Washington. The Togolese delegation is led by Sani Yaya, the country’s finance minister.
The spring meetings will last a week and will, according to experts, cover topics such as the World Bank’s reform, urgent global issues, and the management of debt which has reached levels that...
Togo's public debt stood at CFA3,337 billion in 2022. That is 65.84% of its GDP, according to a report recently released by the Ministry of Economy and Finance.
This is the third consecutive year that the debt ratio rises. It stood at 51.95% and 62.43% in 2020 and 2021, respectively. Back in Q3 2022, the Ministry of Finance said the country’s debt was “under control”. Indeed, despite...