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The Central Bank of West African States (BCEAO) has a new governor. His name is Jean-Claude Kassi Brou and he’s Ivorian. The Bank’s new boss was appointed last Saturday, June 4, during its latest extraordinary summit which was attended by the presidents of WAEMU states, including Togo’s leader, Faure Gnassingbé.
Before his appointment, Brou was the chairman of the ECOWAS Commission. A...
KingCafé, a Togolese company specializing in the industrial processing of coffee and cocoa, will open up its capital in two or three months. The firm which has been active in Togo for around four years will do so through fundraising of $1.5 million (CFA900 million).
The news was disclosed to the press on June 6 by KingCafé’s CEO and sole partner, Paul Kpelly. The project, he...
The first African Women Entrepreneurship Academy was launched in Togo last week, on June 2nd. The program aims to train and boost the capacities of 25 female Togolese entrepreneurs, with an emphasis on social entrepreneurship.
Backed by the US State Department, it will be deployed through the Center for Resources on Social Entrepreneurship (CeRES).
“We are living in a world of...
The Togolese Fintech Semoa launched an event ticketing solution last week via its YEM and WhatsApp Dédé platforms. It was used for the first time last Friday for the Togo-Eswatini match.
The new solution lets fans buy tickets using Tmoney, Visa, and Master Card. “These CashPay services offer autonomy to organizers of cultural events, conferences, training, and others, in the management...
Forty tons of corn were seized by the Togolese Ministry of trade last Wednesday night. The seizure aligns with the government’s efforts to fight the high cost of living in Togo and secure stocks of necessities.
"In June, the government issued a regulation for the export of necessities, including corn," said Kodjo Adedze, Minister of Trade, before noting the violation. "Here you have a truck of...
Togo will issue more recovery bonds on June 10, 2022, and it will try to raise CFA25 billion. The bonds will be issued on the regional money market, UMOA-securities.
With a nominal value of CFA10,000 and an interest rate of 5.3%, the bonds will mature over 36 months
So far into the year, Togo’s public treasury raised CFA236 billion from regional investors. That is more than half of its annual...
The international airport of Lomé (AIGE) recorded a 52% year-on-year surge in passenger traffic in 2021. According to the airport’s authorities, from 460,000 in 2020, the figure jumped to 960,000.
This level is closer to that recorded in 2019: 916,000 travelers. In 2020, the traffic collapsed due to Covid-19 and related protection measures taken by the Togolese government.
The rebound...
On Friday, May 20, 2022, the African Development Bank (AfDB) announced a $1.5 billion (about CFAF 920 billion) support plan for the African agricultural sector. The finance project would help African countries cope with the food crisis threatening the continent. The latter is presently deprived of more than 30 million tons of foodstuffs due to the war between Russia and Ukraine.
Under the...
Ethiopian Airlines launched today, June 1, a new connection to Washington via Lome.
The carrier will fly from Addis Ababa to the US capital, via Lomé, thrice a week.
“We are very pleased to launch a new passenger service connecting Lomé with Washington DC. The U.S. is one of our most important markets due to the presence of a large African community and the growing...
Canada will grant $20 million (about CFA12 billion) to four West African countries–Togo, Ghana, Liberia, and Gambia–to help them build the capacity of their national climate measurement, reporting, and verification (MRV) systems.
The announcement was made last week by the Canadian minister of environment and climate change, Steven Guilbeault, during an official visit to Ghana. On...
"The terminal managed by BAL [Bolloré Africa Logistics, editor’s note] will remain operationally independent, with its top management in Lomé, placed under the responsibility of its CEO in Puteaux [Bolloré headquarters, editor’s note], as is currently the case. The two entities will not face but complement each other." The statement was recently disclosed by Diego Aponte, President of MSC...
Togo wants to modernize its judicial system by adopting a new code of criminal procedure. A draft bill was adopted to this end on May 30, 2022, during the government’s latest Council of Ministers.
The bill, which contains 1047 articles, aims, according to the government, to modernize the Togolese criminal procedure and tackle “new” challenges like terrorism or maritime piracy. It will also...
Togo’s National Directorate of Public Procurement Management (DNCCP) is about to undergo restructuring. A draft decree, aimed at bolstering and extending the authority of this department to public-private partnerships (PPPs) procedures, was examined and adopted by the government during the Council of Ministers held last Monday, May 30, 2022.
“This decree, which is part of the recent reforms...
Yassir, a transport and delivery startup that allows its clients to book drivers via a mobile app, will soon spread its net to Benin, Togo, and Côte d’Ivoire. The Algiers-based company which is already present in France, Canada, and the Maghreb (Algeria, Tunisia, Morocco) and recently came to Senegal, will in the new markets compete against Gozem and the Russian Yango.
“It’s imminent, we...
Appointed on March 18, 2022, the new executive board of the Chamber of Commerce, Industry, and Handicrafts of Guinea (CCIAG) is working to strengthen its cooperation with the Chamber of Commerce and Industry of Togo (CCI-Togo). Last week, a delegation from CCIAG was in Lomé for this purpose. On the occasion, Nathalie Bitho, chairman of the CCI-Togo delegation, met with the Guinean...
Togolese PM lays the first stone of the country’s first biomass laboratory at the University of Lomé
Two years after initial steps were taken to launch the project, Togo started building its first biomass lab (LABTOGO) last week.
On Friday 27, 2022, Togolese Prime Minister Victoire Tomegah-Dogbé laid the first stone of the lab at the University of Lomé (UL). It was during a ceremony held to celebrate the 10-year anniversary of the West African Science Service Centre on Climate Change and...