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From CFA105.9 billion in 2018, donations that Togo received from its technical and financial partners soared to CFA189.6 billion in 2020, up by 84%. Adding the amount received in 2019, CFA122.4 billion, the country obtained CFA417.9 billion over the past three years.
The figures, issued by the BCEAO, French-speaking West Africa’s apex bank, indicate that budgetary support, also called...
Togolese beekeepers and honey sellers are now allowed to export their produce to the European Union (EU), a market of 450 million consumers. This was recently disclosed by Joaquin Tasso Vilallonga, head of the EU delegation in Togo.
“We hope that this approval will facilitate the development of the honey sector and exports from Togo to the EU,” Vilallonga said.
According to the...
Yesterday, June 14, Togo’s PM, Victoire Tomegah-Dogbe, and Gerd Müller, Germany’s minister for economic cooperation and development, laid the first stone for an industrial profession academy. The latter, built over a hectare, is located at the Adetikope Industrial Platform (PIA).
According to the PM’s office, the academy will offer 8 training courses across three sectors, namely...
Between 2018 and 2020, Togo imported CFA472 billion worth of petroleum products, data from the West African Development Bank (BCEAO) shows.
The amount breaks down into CFA167 billion, CFA165 billion, and CFA140 billion in 2018, 2019, and 2020 respectively. The significant slump in the last year, 15%, is attributable to the pandemic which caused oil prices to plunge drastically.
Imports of...
A few days ago, the World Bank approved a $29.5 million (about CFA16 billion) financing to help Togo ‘proceed to the vaccination of its population against the coronavirus and better tackle public health emergencies.’
The funds break down into $25 million from the International Development Agency (IDA) and $4.5 million from the Health Emergency Preparedness & Response...
Togo should soon get more power supply from Nigeria, in the framework of the North Core project, a regional project. The latter is financed by the World Bank, the French Development Agency (AFD), and African Development Bank (AfDB).
The announcement was made by Sule Abdulaziz, chairman of the executive board of the West African Power Pool (WAPP). Abdulaziz, who is also interim MD of...
To help Togo manage the Covid-19 crisis, Germany has disbursed more than CFA6 billion. The figure was disclosed on Sunday, June 13, by the German minister of economic cooperation and development, Dr. Müller Gerd.
The support came mainly in the form of medical equipment and vaccines, according to the German who is currently in Togo for a 3-day official visit. On this occasion, he brought 30...
More than CFA13 billion. That is how much the Togolese State spent on subsidies to petroleum products between January 2019 and May 31, 2021. This was disclosed on Friday by the minister of trade, Kodjo Adedze.
The official, who was explaining the reasons behind the recent increase in pump prices of petroleum products in Togo, emphasized that the State lost about CFA6 billion...
In 2019, Togo produced 59,833 L of honey, 58.6% more than it did in 2018, that is 37,727 L. The figures were disclosed last Wednesday by the ministry of agriculture.
Similarly, the country produced more wax from one year to the other: 3,231.3 kg in 2019, and 949.5 kg in 2018 (+9.6%).
Consequently, the earnings of bee farmers grew by 54.4%, from CFA123 million in 2018 to...
In Togo, prices of petroleum products, at the pump, were increased on Friday June 11th. The decision was enacted by a decree from the ministry of trade and economy.
Now, super unleaded will be sold at 505 FCFA instead of 425 FCFA, kerosene at 400 FCFA instead of 375 FCFA, diesel at 520 FCFA instead of 450 FCFA and 2-stroke at 606 FCFA instead of 532 FCFA.
Gas, for their part, are...
In line with its ambition to achieve the sustainable development goals (SDGs) by 2030, Togo has elaborated a project to “boost development financing to achieve SDGs in Togo.” This instrument should help the country raise more funds to achieve this objective.
The UNDP and UNICEF injected $2.1 million (about a billion CFA) in the project which was recently launched. Within a year,...
The African Guarantee Fund (AGF) announced plans to help create between 30,000 and 50,000 jobs in Togo over the next five years. The plan will be executed to support the Togolese government’s development vision with actions focusing on empowering women and youth.
The announcement was made during the inauguration of AGF's headquarters in Lomé. Welcoming the initiative, Felix Bikpo, AGF’s...
Two weeks after the UK did, the US has also relaxed travel conditions to Togo. The economic powerhouse recently ranked the West African nation one of the safest countries in the world for its citizens and other travelers, relative to the risk of Covid-19 infection.
The US State department has, in effect, published an updated comprehensive list of countries where its citizens should...
To restart its economy, post-Covid-19, Togo seeks CFA25 billion on the regional money market.
To raise these funds, the country has issued, again, fungible treasury bonds. The latter have a nominal value of CFA10,000 per unit, according to the UMOA-securities agency.
The issue, which will close on June 11, 2021, is set to mature over 84 months, and the corresponding interest...
On June 9, the World Accreditation Day, Kodjo Adedze, the Togolese minister of trade, industry, and local consumption, called all business owners and lab heads to ensure that their products meet accredited standards.
Accreditation, he said, is indispensable to conquer the international market, especially in the context of the management of the Covid-19 health crisis, the post-pandemic...
In Togo, 70% of economic activities are related to the coastline and the country gets more than 75% of its tax earnings from them. The figures were disclosed last Tuesday, World Oceans day, by the minister of maritime economy, fishery, and coast protection, Edem Tengue.
According to Togolese authorities, trade via the port of Lomé generates a massive portion of the State’s revenues. In...