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Last year, 29.6 million tons of goods transited through the Port of Lomé, up 14% compared to 2020. The increase is mainly attributable to a new record of container traffic. The infrastructure processed 1.9 million TEUs in 2021, against 1.7 million TEUs in 2020 when this volume was also up despite the Covid-19 outbreak. The performance, attributed to a rebound in ship arrivals, pushed the Port of...
The PIA, an agro-industrial park, promotes the local processing of raw produce like cotton, cashew nuts, soybeans, coffee, and cocoa which are exported by Togo.
Some of the projects already launched at the platform include TOGO Clothing Company, M Auto Electric Mobility, Togo Agro-Ressources SAU - which makes soy-based cooking oil, and Togo Wood Industries SARL.
It should be noted that...
Laurent Tamegnon, the head of Togo’s Council of Employers, met with representatives of the Institut de Formation en Alternance pour le Développment of Lomé last Wednesday. At the meeting, the council and the Institut (which specializes in construction) announced a partnership that will contribute to the emergence of Togolese professionals with real work experience.
The Institut or IFAD...
The Decentralization and Local Governance Program (ProDeGoL) came to an end on January 31, 2022. A ceremony was held last Tuesday to mark the completion of the project which is financed by the EU and Germany. On the occasion, the Togolese ministry of territorial administration and decentralization received some equipment and vehicles.
The equipment and vehicles - six 4x4 cars, three...
After completing its first 15-year bond issue in November 2021, the very first on the regional financial market, Togo will carry out a similar issue again on March 4, 2022. The operation should allow the Treasury to secure CFA30 billion.
In detail, Lomé will issue three million securities with a nominal value of CFA10,000 CFA, at a rate of 6% per year. Interest payment will begin next year...
The United Nations Development Programme (UNDP) office in Togo provided CFA146 million in grants to nine civil society organizations (CSOs) on February 22, 2022. The related agreement was initialed by UNDP’s representative, Aliou Mamadou Dia.
With the money, the CSOs will develop community projects that focus on natural resource management and environmental protection. In detail, each of them...
Saudi Arabia will help Togo develop the projects falling under the West African government’s 2020-2025 roadmap. To this end, the two countries inked last Tuesday a memorandum of understanding (MoU) in the Togolese capital Lomé.
The MoU was signed by Togo’s Minister of Trade, Kodjo Adedze, and Ahmad Ibrahim Al-humaid, representing the Saudi Development Fund (SDF).
Among projects...
In Togo, the government decided on February 22, 2022, to ease some of its measures that aimed at containing the pandemic.
Among others, those who test positive for Covid-19 will spend less time in self-isolation (7 days for the vaccinated and 10 for the non-vaccinated). Government-approved places of worship have been allowed to fully reopen, and people can now attend sports and cultural...
Key players of the cashew sector met last weekend in Sokodé (340 km north of Lomé) to discuss the regulation of the 2022-2023 marketing campaign. The recently-launched campaign will close on August 30, 2022.
From this year onward, anyone who wants to buy raw cashew nuts needs a buyer or sub-buyer card, paired with a purchase agreement and the transport slip.
As for exporters, they must...
Lomé will host the 8th Annual International Tax Conference (CIAF), the largest sub-regional meeting on tax mobilization by States, on February 24-25. Major personalities, including the Togolese President, Faure Gnassingbé, and his Minister of Finance, Sani Yaya will be present.
The information was disclosed by the Togolese Revenue Office (OTR), the country’s tax mobilization body. The theme...
A delegation from the Saudi Development Fund (SDF) is presently in Lomé, led by Alzahrani Saeed Mubarak. The delegation was received on Feb 21 by the Togolese minister for water, Bolidja Tiem.
On the same day, President Gnassingbé received the Saudi ambassador to Togo, Mishaal bin Hamdan Al-Roqi. Among others, the two men discussed cooperation between the two countries, especially relative to...
As of December 31, 2021, Togo's outstanding debt on the WAEMU market stood at CFA1,537 billion. That is CFA190 billion or 14% more than the figure reported for 2020.
The increase is mainly due to a surge in auctioned issues and long-term debt, as the country strives to reduce the refinancing risks associated with its domestic debt. Bonds issued through auctions rose from CFA1,191 billion...
Togo processed 1,125 property transfer requests in 2021, up from 252 in 2018. According to the country’s Business Climate Cell (CCA) which released the figures on Feb 21, 2022, this represents a jump of over 300%.
The CCA attributes the performance mainly to the digitization of 99.32% of land titles in the country, making it easier to research data related to the titles. Other reasons include...
Togo's debt on the sub-regional financial market (Umoa) is mainly held by investors based in Togo, according to data from the Umoa Securities Agency in its latest quarterly report.
Indeed, at the end of December 2021, more than 30% of the country's public securities portfolio, or CFA424 billion, was held by local investors, the vast majority of them from the banking sector.
After Togolese...
The government of Togo does not plan to increase the pump prices of petroleum products in the country. The information was disclosed by the Ministry of Trade, to put an end to some misleading rumors that caused a rush to the stations, in Lomé especially.
The ministry explained that the rumors are due to “tensions in the supply of petroleum products.” It added that things “should be...
The Togolese television TVT has been added to CANAL+’s paid offer which is available in around 50 countries, in sub-Saharan Africa and the world. The related partnership agreement was signed last Friday, February 18, 2022, between the Togolese State and Canal+ Africa. The two partners were respectively represented by Akodah Ayewouadan, Minister of Communication and Media, and David Mignot, CEO...