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Next April, Lomé will host a high-level conference on political transitions and the fight against terrorism in the Sahel and West Africa. This was disclosed by the Ministry of Foreign Affairs which is behind the project. The related press release further notes that Robert Dussey, the Togolese Minister of Foreign Affairs, presented the project to Antonio Gutierrez, the UN Secretary-General, on...
The government of Togo will spend CFA5 billion on exceptional bonuses for teachers, covering the period from January 2021 to December 31, 2025. The news was announced via a press release issued on Feb 9, 2022, after a meeting between education stakeholders and Togolese officials.
A large portion of the funds will be provided to public teachers as annual allowances, not "indexable" over the...
Last Tuesday, Feb 8, the minister of health and the minister of universal access to health care, Moustafa Mijiyawa, and Agba-Assih Mamessilé, were in northern Togo to visit some health infrastructure under construction.
Notably, the two Togolese officials were in Kara to evaluate construction works for the Center for Medical Specialties (CMS) and the Center for Infectious Diseases (CID), and in...
"Faced with new issues and challenges, it is important to update the national policy for the development of Togolese trade to make Togolese companies more competitive on the international market, in a context where, as we all know, Covid hinders imports and exports," said Dr. Ayira Korem, an economist and researcher at the University of Lomé, in charge of the project. "So it is essential to...
Due to a lack of plants to process the crop, Togo massively exports its cotton output, to Southeast Asia mostly.
Cotton is Togo’s primary source of foreign currency. In 2020 and 2019, the country raked in $64 million (about 36 billion CFA francs) and $98 million, respectively, from its white gold exports. These figures were obtained from the UN Comtrade database, an...
The physical and financial rates of completion of reforms that the Togolese Ministry of Economy and Finance initiated in recent years are 80.02% and 67.8%, respectively.
The figures were disclosed during a recent videoconference on the National Review of Reforms underway in ministerial departments and state institutions through to the end of December 2021.
During the meeting,...
Last Friday, the National Agency for Support to Grassroots Development (Anadeb) identified and selected 900 villages that will receive additional funds as part of the Social Nets and Basic Services Project (FSB). They were selected after regional meetings that gathered communal authorities and civil society organizations.
The randomly-picked villages come from 100 of the poorest districts of the...
Lomé hosted on Feb, 8, the 3rd Conference of the Pan-African Federation of Accountants (PAFA). This year, the event focused on public finance management in French-speaking African countries and gathered about thirty chartered accountants. The theme of the conference was: "Public Finance Management Reforms, the Agenda of Francophone Countries."
Participants present -public accountants and...
In line with its ambition to improve land tenure, the Togolese council government, via its council of ministers, has adopted on Feb 7, 2022, a draft decree to set up a Land Advisory Council.
"This decree, taken in application of the land and property code, aims to set up a framework for exchanges and consultations on actions to be taken in the field of land and property," the government wrote in...
Invoice factoring could soon become more accessible to businesses in Togo. Indeed, the country’s council of ministers adopted last Monday a uniform draft bill covering this activity in the West African Monetary Union member states.
Factoring is a transaction whereby businesses fund their cash flow by transferring their receivables to a third party (the factor). The Togolese government...
Last Monday, Feb 7, Togo's Council of Ministers adopted a draft bill aimed at accelerating the digitization of visa and resident permit applications and issuance. The meeting was held in Kara (412 km north, from Lomé).
"The main purpose of this draft bill is to update the general rules applicable to the entry, stay, movement, and settlement of foreigners on Togolese territory. In...
The government recently encouraged UN bodies in Togo to increase their actions, those that will greatly impact the people and accelerate inclusive development. In this framework, following a meeting to review the UN’s activities in the country, representatives from both sides picked some key areas where these actions can be carried out. They include health, education, and...
Between its launch in 2016 and the end of December 2021, the Support Project for Youth Employability and Integration in Growth Sectors (PAEIJ-SP), distributed CFA17.2 billion to young Togolese agripreneurs, according to data provided by this program.
The sum is twice the CFA7.5 billion the institution planned to share over the period under review. It was raised through 15 financial partner...
It’s been over 10 years since the Economic and Social Council (ESC) was approved by the Togolese Parliament. At last, the country plans to launch it this year.
In this framework, the government allocated a budget of CFA500 million (payment credit) to the body which will advise public institutions, especially the Presidency and the Parliament, and take part in the elaboration of economic...
In its latest report, venture capitalist Partech estimated that the Togolese startup ecosystem raised about $6 million in 2021, mostly through equity investments. The figure is up by 57% compared to that recorded in 2020 – $3.8 million.
Togo ranked 16th in Africa, among countries whose startups raised the most funds last year. At the top of the ranking are Nigeria ($1.8 billion),...
Togo’s Treasury successfully closed, last Friday, its latest fundraising on the UMOA-securities. The country secured CFA35 billion by issuing fungible treasury bonds, with a 10-year maturity period and an interest rate of 5.90%.
This was Lomé’s third issue on the regional money market this year and according to the UMOA-Titres Agency, 22 regional investors subscribed, raising CFA69 billion,...