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In line with its goal to cut greenhouse gas emissions, Togo launched on Sept 5 the "Transition to Electric Mobility" project. The latter will be deployed over the next four years, thanks to an CFA800 million fund from the Global Environment Facility (GEF).
In detail, the project will involve setting up an integrated, sustainable, and low-emission transport system, and converting vehicles that...
The Peace and Security Council (PSC) of the African Union (AU) began Amnesty Month in Africa (AMA) on Monday 5 September 2022 in Lomé. At this edition, which is part of the "Silencing the Guns in Africa" initiative, experts from the Council Member States will federate their efforts to end the circulation of small arms in Africa by 2030.
Specifically, the initiative aims to sensitize and...
Togo produced 929,000 metric tons of corn in 2021. The Central Bank of West African States (BCEAO) disclosed the estimate in its 2021 annual report.
According to the apex bank, last year’s output exceeds 2020’s by 4.5%. That year, the report notes, the country’s corn output stood at 885,000 Mt, against 912,000 Mt in 2019. In 2020, let’s recall, Togo had just been hit by...
From January to August 2022, Togo paid back CFA264 billion of the money it borrowed from the WAEMU securities market.
This amount, according to the data obtained by Togo First, breaks down into 27.5 billion fungible treasury bills and 263.3 billion fungible treasury bonds.
Lomé should pay another CFA19 billion this month.
So far in 2022, Togo has borrowed CFA407 billion on the...
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...