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Operations at the dry port of the Adetikopé industrial platform (PIA) began on January 16, 2022. According to the maritime economy ministry which revealed the news, the port which spans 20 ha can host 12,500 containers and serve as a relay-point for containers, pending their delivery to landlocked countries.
The infrastructure should help free space at Lomé’s main port. It will be used for...
Togo will carry out its second issue on the UMAO-securities market on January 21, 2021. The country will seek CFA35 billion by issuing fungible treasury bonds. With a nominal value of CFA10,000 per unit and an interest rate of 5.8%, the bonds will mature over 84 months (7 years).
The upcoming issue follows that carried out on January 7th. The first issue of 2022 helped Lomé raise CFA27.5...
Togo plans to repay, this month, CFA29 billion to clear part of its debt on the UMOA-securities market. The information was disclosed in the cumulative balance sheet of this market.
The payment breaks down into CFA22 billion as principal and CFA6.99 billion as interest.
It should be noted that throughout 2021 the country reimbursed nearly 60% of the funds it borrowed on the regional...
Between 2014 and 2021, taxes collected by the Togolese tax office (OTR) surged by 70% - from 458.2 billion to 780 billion CFA, respectively. This represents an average increase of 6.87% per annum.
Overall, though there was an increase in 2017 and 2018, the OTR performed less. The institution collected CFA563.2 billion in 2017 (around 5 billion less than it did in 2016) and 560.5 billion the...
This year, Africa must make financial inclusion a priority. Mazamesso Assih, Togo’s minister for financial inclusion and the informal sector, claimed in a recent statement.
According to the official, there are three main reasons African nations must focus on financial inclusion. First, making financial services more accessible fosters the empowerment of the most vulnerable people, women...
The Artisanal fishing port of Lomé (POPEL) caught over 4,000 tons of fish in 2021, up around 18% from 3,450 t in 2020. The figure was recently disclosed by the Ministry of Maritime Economy and Fisheries.
"The growth can be explained by the attractiveness of the new port, inaugurated in 2019, which offers a modern framework to the actors of the fishery," said the Minister in charge, Edem Kokou...
Over the past year, 13,770 new businesses were established. The figure, a new record, is up 9% compared to 12,500 businesses created in 2020, according to data from the Centre de formalités des Entreprises or CFE (Center for Business Formalities) compiled by Togo First.
In detail, in Q1 2021, 4,087 companies were created against 3,224 in Q2, 3,495 in Q3, and 2,964 in Q4. January was the...
More than 5.7 million new e-money accounts were created in Togo in 2020, up 20.85% compared to 4.71 million accounts in 2019. This was recently disclosed by the Central Bank of West African States (BCEAO) in its annual report on digital financial services in the WAEMU.
Over the same period, users of digital financial services, which allow the storage and transfer of funds through digital tools,...
In Togo, more than 600 people died in road accidents in 2021, up from 556 in 2020. The figure was recently reported by the Minister of Security and Civil Protection Gal Yark Damehane.
According to the official, the causes of these accidents were the same as in previous years: recklessness, drunk driving, non-respect of the highway code, overloading, speeding.
These causes persist "despite the...
In addition to backing the second construction phase of the PIA, the African Export-Import Bank (Afreximbank) said last Thursday it would help Togo develop its industrialization projects. The commitment came from Benedict Okey Oramah, chairman of Afreximbank’s board of directors, during a meeting with the Togolese Head of State, Faure Gnassingbé.
"We are planning other projects, especially...
Togo produced and sold less coffee and cocoa in the 2020-2021 campaign than it did the campaign before. This is what data from the Coffee-Cocoa Coordination Committee reveals.
In detail, the country’s coffee output fell by 4%, from 2,500 t in 2019-2020 to 2,400 t in 2020-2021. As for cocoa production, it plunged by over 70% over the two periods concerned - from 10,600 t to 6,100...
Togo successfully raised CFA27.5 billion on the regional money market - UMOA securities market - last Friday. This was the country’s first issue on the market for the year. It issued fungible treasury bills.
Lomé, it should be highlighted, was initially seeking CFA25 billion but retained 27.5 billion out of over 77 billion mobilized. The latter figure translates to a subscription rate of...
The Togolese Tax Authority (OTR) collected around CFA720 billion throughout the past year, up 9% against the amount it mobilized in 2020 – CFA652 billion – and 13% compared to 2019’s 624 billion.
Philippe Tchodie, Commissioner-General of the OTR, lauded the result recorded amidst the Covid-19-induced health and economic crises. He said 2021 was “an exceptional year, regarding the...
In Togo, the security deposit to be paid by tenants living in the Grand Lomé region (covering the Gulf and Agoè-Nyivè prefectures) has been capped to 6 months of rent. A bill was adopted in this framework yesterday during the ministers’ council.
"This cap aims to mitigate speculation practiced in our country, especially in the Grand Lomé region, while trying to preserve investments...
Forty (40) Togolese civil servants will end today a 3-day workshop aimed at drawing rules to regulate the use of drones by civilians across the country. The event, held in Lomé, regroups some employees of the institutions in charge of implementing State decisions and laws covering the usage of drones.
"We want to adhere to the rules set by the ICAO [International Civil Aviation Organization,...
In Togo, civil servants in the public and parapublic sectors, as well as pensioners, will get a one-month salary advance this week. The wage will be reimbursed in monthly installments throughout the rest of the year.
The instruction was given by President Gnassingbé who announced it last Thursday during his new year address to the nation. The measure aims to help public servants cope with...