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Togo will receive in the middle of this week Turkey’s President, Recep Tayyip Erdogan, and according to the Togolese presidency, many agreements, in various sectors, should be signed during his stay. Erdogan started last Sunday a tour in Africa.
The foreseen deals are expected in the sectors of agriculture, trade, and defense. Ankara noted that “a deal with Togo in the sector of industry and...
A fruit and vegetable processing unit, the first in Togo, was inaugurated in Tsévié last Thursday. The facility, which will mainly make tomato paste and pineapple juice, was inaugurated by the minister of grassroots development and youth employment, Myriam Dossou-D’Almeida.
“The commissioning of this processing unit opens up a new page in our country’s agribusiness sector and...
In Togo, the vaccine pass measure is only mandatory in the Grand Lomé region at the moment because the region concentrates the most cases (over 90%) of Covid-19. This explanation was given by Col. Djibril Mohaman who heads the national coordination team tackling the pandemic (CNGR), in response to recent concerns of the constitutional court regarding the pass’ expansion to the rest of the...
Togo will try to raise CFA50 on the regional money market this month. The funds will be used to finance the country’s Covid-19 recovery strategy.
Lomé’s first issue on the UMOA securities market is today, Oct. 15. The country, by issuing recovery bonds, will seek CFA25 billion. Another issue (of fungible Treasury bonds) is set to follow on October 29 with the same goal.
So far...
The chamber of commerce and industry of Togo (CCIT) wants to boost trade between Burkina Faso and Togo. To this end, the chamber held, on Oct. 13, a meeting with its technical and financial partners to assess the needs of sellers active on the Lomé-Ouagadougou axis.
Measures planned to support small sellers along this road axis include “interventions at checkpoints to make it easier for...
Togo is preparing for the COP26 that will take place from October 31 to November 12, 2021, in Glasgow, Scotland. In this framework, the country’s actors of the climate and environment sector are holding a meeting, started on October 14, in Lomé where they are discussing Togo’s efforts to tackle global warming, and agreeing on arguments they will defend at the international...
Lomé and Nouakchott will soon cooperate in the port and fishing sectors. The announcement was made Wednesday during an official visit by Togo’s President, Faure Essozimna Gnassingbé, to Mauritania where he met President Mohamed Ould Cheikh El Ghazouani. The two leaders discussed bilateral cooperation between their nations.
According to the statement issued after the meeting, the decision to...
The Togolese government announced on October 12 it is taking measures to ratify the framework agreement related to tourism ethics. This was during the council of ministers held that day.
“This convention will help boost the legal framework and contribute to the sector’s professional exploitation,” the council said in a statement. The document will, the statement adds, help foster...
Togolese investors lost more than CFA20 billion in the “Trading Gate” scam. Talking to France 24, Ange Ketor, head of the microfinance professionals association of Togo, said the fake trading and cryptocurrency firms “stole over CFA22 to 25 billion.”
This money, the expert added, “came mainly from formal lenders, like banks and microfinance institutions.” Thousands of savers trusted...
Despite the persistent health crisis, the number of businesses started in Togo should reach a new high this year.
By the end of September 2021, official data shows that 10,806 new businesses were registered in Togo. This represents a 13.4% increase compared to the 9,527 businesses registered over the first three quarters of 2020. The upward trend - recorded over the past few years - is...
As part of its Reinforced Integrated Program, Togo plans to set up a package production and sales unit. In this framework, the ministry of trade launched a preliminary feasibility study for the project.
Ending on October 15, the study aims to collect data of packaging manufacturers and users that operate across the country. Information gathered will serve “to quantify, for the sub-sector...
A total of CFA6.25 billion will be dedicated to the FACT, the Local Authority Support Fund. This was disclosed in a statement issued by the Togolese ministries of decentralization and economy on October 1.
The monies will support all 117 municipalities of the country and will be distributed based on their population size, area, and poverty level.
Part of the amount, CFA2.5 billion,...
Togo’s minister of trade, industry, and local consumption, Kodjo Adédzé, was at the Adetikope Industrial Platform (PIA) last week. He was there to evaluate how far advanced the construction of warehouses and local processing units was.
“The construction of warehouses and processing units for products such as soybeans is progressing well,” Adédzé tweeted after his...
Togo spent about 6% of its GDP to fight Covid-19 in 2020. The estimate was disclosed by the World Bank in its latest report on the state of Africa’s economy.
The percentage corresponds to around CFA260 billion, in budget expenditures, according to data from mid-2021. This includes additional spending related to Covid-19, or revenue foregone, relative to 2020’s gross GDP (about CFAF...
PIA is pleased to announce the creation of a world-class knit garment within it’s industrial zone unit named ‘Togo Clothing Company’. The total investment is valued at USD 35 million and is expected to generate USD 40 million worth of export value on an annual basis and 2,000 direct jobs.
Togo Clothing company (TCC), has been created by ITCRmg, a company who has a solid track record in...
Centre Urbain de Business et d'Entrepreneuriat (CUBE), a Lomé-based incubator, announced on October 11 the launch of K-PITAL Invest. This is a fundraising and finance-seeking program that the incubator will launch with the UNDP’s Accelerator Lab.
“K-PITAL INVEST will be a platform dedicated to connecting projects that have validated their financial and entrepreneurial management...