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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...
A fire broke out in Kara's new market last Saturday. So far, its cause is unknown according to local authorities.
Initial reports state that the fire destroyed several buildings and facilities, devouring goods and equipment.
This is not the first time a fire is breaking out in one of Togo's markets. In 2013, on the night of January 9 to 10, an arson swept away the old market....
The African Development Bank (AfDB) approved its 2021-2026 strategy for Togo last week, on Dec 17th precisely. The Abidjan-based Bank greenlit the document during its General Assembly.
The new framework, which should support Togo's government roadmap, focuses on two key areas: developing inclusive growth poles and social inclusion policies, and strengthening financial and sectoral...
A quarter of new coronavirus cases recorded in Togo are omicron cases. The information was disclosed on Wednesday by the National Team in charge of Coordinating the Response against the virus (CNGR).
"The Omicron variant is here, and sequencing has shown that it represents 25% of cases, it is more contagious than the old Delta variant. We have gone from 2.5% positivity (number of positive...
The French Embassy launched this week a call for applications for scholarships for the academic year 2022-2023. The scholarships to study in France, granted through the Service de Coopération et d'Action Culturelle (SCAC), are intended for "the best Togolese students" wishing to pursue a Master's degree or a Doctorate in a sandwich course, according to the call for applications.
To be eligible...