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This year, Togo will allocate CFA4 billion to the Local Authority Support Fund (FACT) in line with its appropriation bill 2022. Compared to 2021, this is 36% lower.
The amount allocated last year was broken down into CFA2.5 billion for projects carried out by the National Agency for Grassroots Development (ANADEB), and around CFA4 billion for the country’s 117 municipal...
The Togolese subsidiary of the Compagnie Financière Africaine (COFINA) will reinforce its financial inclusion policy. This ambition was revealed on Jan 27 by the institution’s MD, Digbé Marcel, during an audience with Prime Minister Victoire Dogbé.
"We will accentuate financial inclusion,” Marcel said, adding that COFINA was open to "supporting and financing the government in its various...
Togo jumped six places in the 2021 Corruption Perceptions Index (CPI) released last Tuesday by Transparency International. The West African nation which was 134th out of 180 countries in 2019 and 2020 ranked 128th last year, with a score of 30 over 100 (+1).
Lomé was 29th in Africa and its score was above the average recorded across the sub-Saharan African region - a region which made “no...
GuarantCo has granted Orabank-Togo a CFA14.55 billion guarantee to finance road and telecom development projects in Togo. This is the second time that the subsidiary of the Private Infrastructure Development Group (PDG) is providing a guarantee to support infrastructure development in Togo. The first time was in 2019 when the fund helped Togo’s commercial banks support the Kekeli Efficient...
For its third issue on the WAEMU market this year, Togo will seek CFA35 billion. The first two were successful.
The issue - of fungible Treasury bonds - is scheduled to close on Feb 4, according to WAEMU-securities. It is set to mature over 120 months (10 years), has a nominal value of CFA10,000 and an interest rate of 5.9%.
So far into the year, Togo has raised CFA64 billion on the...
Togo and Iran are looking to reinforce their cooperation in the health, agriculture, and energy sectors. The matter was discussed in a recent meeting between some Iranian authorities and a delegation led by the Togolese Minister of foreign affairs, Robert Dussey, who ended a working visit in the middle eastern country last Wednesday.
Concretely, the two countries agreed to hold medical...
Forecast at 58 billion CFA francs at the beginning of 2021, and scaled up to 110 billion CFA francs in October of the same year, the Togolese army budget should reach 105 billion CFA francs in 2022, according to official forecasts.
The forecasts are released in a context where terrorists’ presence keeps growing in the sub-region, nearing the coast. Last year, Togo lost seven peacekeepers...
In line with its 2022 budget law, the government of Togo plans to spend CFA23 billion on clean water supply this year. This is more than it allocated for the same purpose last year, CFA17 billion; this is in a context where the service rate in rural and urban areas are currently estimated at 68% and 58%, respectively.
In the coming months, several drinking water supply projects started in...
Since the last local elections held in June 2019, Togo has been actively engaged in its decentralization process. And while Lomé’s efforts resulted in greater involvement of citizens, many of whom are now ready to take part in their municipalities’ activities and strongly adhere to the principles of good governance, some bridges still need to be built between local elected officials and...
Last year, Togo’s implementation rate for WAEMU reforms and policies stood at 78.2%, almost the same as in 2020 when the figure was 78%. Regarding programs and projects, the related implementation rate registered by the country was 89.28%, up from 78.15% in 2020.
The figures were disclosed during the 7th annual review of WAEMU reforms, policies, and programs held on Jan 25th, in Lomé....
The Association of Large Enterprises of Togo (AGET) signed a partnership agreement with the National Coalition for Youth Employment (CNEJ) last weekend. This happened during a grand gathering of the AGET in Lomé.
The agreement provides mainly the establishment of a mentoring program for young entrepreneurs - an initiative that will, according to the government, help "bolster international...
The Togolese Mediator of the Republic, Awa Nana-Daboya, declared on Monday, her property and assets before the Constitutional Court. This is a formality that she accomplished in line with the organic law setting the conditions for the declaration of assets and property of high-ranking personalities, senior officials, and other public servants.
Nominated on October 25, 2021, for a second term as...
Under the finance law drawn for the 2022 fiscal year, the Togolese government intends to devote CFA518 billion to investment projects that are part of its Public Investment Program (PIP). The forecast is well above last year's projections which were revised to CFA392 billion following the October collective.
The projected public investment spending should make up about 40% of the overall...
The French Development Agency (AFD) and the Togolese government inked a second €10 million financing agreement (about CFA6.5 billion) for vulnerable populations at the end of last week. The agreement was signed by the Togolese Minister of Economy and Finance, Sani Yaya, the French Ambassador, Jocelyne Caballero and François Jacquier-Pélissier, Director of AFD Togo.
The new facility will...
Togo’s Novissi cash transfer program is one of the finalists nominated for the 2022 SXSW awards. The latter recognizes innovative programs in the connected world, as part of its conference series held in Austin, Texas, USA.
The Togolese project is the fruit of a collaboration between the government and Give Directly, an NGO. It is one of five finalists falling under the "AI & Machine...
Togolese ministers adopted last Thursday, Jan 20, a new draft decree relative to the creation of administrative subdivisions across the country.
"This draft law aims to create in the territorial communities "regions" managed by elected regional councilors who will, in turn, appoint regional executives who will play an important role in local development," reads the communiqué sanctioning the...