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The motor vehicle tax, which is collected by the Tax Revenue Authority (OTR) has been suspended in Togo, the government announced on Monday, April 11.
Lomé in the corresponding statement said the suspension “aims to mitigate inflation’s impact on the transport of goods and people.” This, in a context where transport prices have soared due to the increase in fuel prices; an increase...
Henceforth, members of the Togolese diaspora will benefit from a 12% reduction on Asky’s flight tickets. The Togolese Ministry of Foreign Affairs, Integration, and Togolese Abroad signed an agreement to this end on April 5.
The discount applies to flights in both the business and economy class, regardless of the destination.
Also, the pan-African airlines said it would “waive the penalty...
In Togo, the second phase of the Support Project for Youth Employability and Integration in Growth Sectors (PAEIJ-SP) should begin soon. A nationwide survey is currently being conducted to define the orientations and outlines of this phase.
Authorities behind the project decided to move on to the second stage because the results of the first stage were beyond their expectations.
Regarding...
Germany committed more than CFA65 billion to Togo last year. The figure was mentioned during a strategic meeting between officials from the two countries–a meeting held in Lomé on April 8, 2022.
The money was used to finance a set of reforms validated in March 2021 by the two partners.
During the meeting, Lars Wilke, Director of West Africa at the Federal Ministry for Economic Cooperation...
Announced last week, the conference on terrorism and political transition in the Sahel and West Africa was postponed from April 21 to an undisclosed date. This was revealed on April 11, 2022, in a statement issued by the Togolese ministry of foreign affairs and African integration.
The new date will be disclosed “to all national and international actors in due course,” the ministry...
Togo held a government seminar in Kara (in the northern part of the country) last Friday and Saturday, April 8 and 9. The meeting addressed the implementation of key projects that fall under the 2020-2025 government roadmap, especially those that are part of the roadmap’s second and third axes.
The two axes should help boost job creation, modernize the country, and reinforce its structures....
Togo’s National Employers’ Council (CNP-Togo) and executives from the International Business Bank -Togo (IBB) want to activate the guarantee line of the African Solidarity Fund (ASF). The two parties discussed the matter last week, on April 6, in Lomé.
IBB’s top management, which is for the move, is working with CNP-Togo on a memorandum of understanding that should define how the...
Over the past month, global food commodity prices reached their highest level ever and the pace has been maintained in the past weeks.
“The FAO Food Price Index averaged 159.3 points in March, up 12.6 percent from February when it had already reached its highest level since its inception in 1990,” the FAO warned. The Rome-based UN body said the surge was mostly driven by prices of...
Nine more teachers joined the list of 137 teachers excluded from the Togolese education system and redeployed in the administration. The names of the concerned were released on April 5th by the Ministry of Public Service and Dialogue in a decree on administrative measures.
Like their 137 fellow colleagues, the nine teachers also respect the four-day work stoppage order issued on...
As part of the second phase of the Project to Support High School Reforms (PAREC II) in Togo, 384 classrooms are being built in the Maritime, Plateaux, and Savanes regions. The construction was officially launched last Monday by the minister of primary and secondary education, Dodzi Kokoroko.
The project covers 130 public high schools and it will help increase their capacity and conditions of...
Lomé hosted last Monday, April 4th, a workshop for the elaboration of the gender-sensitive budget for the year 2023. During the session, participants - gender experts, senior officials, technical and financial partners of Togo - aimed to better promote women and gender equality in the budgeting and allocation of state resources.
"Gender budgeting consists in applying the integrated approach of...
Throughout the past month, 1,354 new businesses were registered in Togo, according to data from the Center for Business Formalities (CFE). Compared to February 2022 when the CFE recorded 1,278 new registrations, March’s figure represents a 6% increase; and it is 4% more than in January (1,300).
Looking at the men to women ratio, men officially set up 978 businesses last month, while women...
To shield economic operators (importers and exporters) against fluctuating foreign exchange rates, Orabank Togo recently launched a new product called “forward exchange”’(change à terme). The new offer, which the lender claims to be its “flagship product of the year”, will fix, in advance, the exchange rate in the framework of currency purchase.
In effect, it will be...
From 2019 to the end of 2021, the value of leasing transactions in Togo has soared from CFA600 million to CFA11 billion.
“(...) New leasing operations have swollen to 11 billion in 2021, compared to 0.6 billion in 2019, the year that Togo adopted the law on leasing,” said Sani Yaya, Togo's Minister of Economy and Finance, in his speech at the first National Credit Council (CNC) of this year,...
Last week, during the National Credit Council (CNC), Togo’s minister of finance and economy, Sani Yaya, affirmed that bank lending in the country “strongly increased” in 2021.
Throughout the past year, Yaya said, banks loaned CFA1,425 billion to the economy, up 9% year-on-year, despite the Covid-19 pandemic and its economic consequences. It is a “five-year breaking record,” with...
Lomé will host, on 21st April, the conference on political transitions and the fight against terrorism in the Sahel and West African regions. According to the Togolese ministry of affairs which made the announcement, the event will take place at Hôtel 2 Février’s international conference center.
The meeting, which is backed by the UN, was announced last February. It will focus on...