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Togo should disburse CFA199 billion between July and September 2021 to service its debt on the WAMU’s Public Securities Market (MTP).
The figure breaks into CFA163 billion for principal payments and CFA36 billion for interests.
Lomé, which paid back CFA4 billion on July 5, plans to pay, in all, CFA65 billion before the month ends. In August, it intends to pay CFA109 billion, and...
Togo raised CFA183 billion on the regional money market in Q2 2021. This is 11% more than what it expected - CFA165 billion.
The unexpected increase was driven by the 10-year maturity issue of fungible Treasury bonds Lomé completed on April 16.
For that issue, the country, which was seeking CFA15 billion, raised CFA87 billion and retained CFA59 billion (at an interest rate of...
The ministry of finance of Togo and the World Bank supposedly teamed up to give entrepreneurs subsidies totaling $61.4 billion. This information is false.
It was issued by ill-intended individuals on a fake Facebook page pretending to be the ministry’s. This page was reported to Facebook by the Togolese authorities, according to a tweet released on the ministry of finance’s...
Burkinabe construction mogul and owner of EBOMAF, Mahamadou Bonkoungou, has decided to enter Togo’s bank and finance industry. The businessman launched June 29, 2021, a financial firm called IB Holding.
Registered as a one-person limited company (OPC) at the Togolese Trade and Property Credit Office, the firm has a seed capital of CFA30 billion. IB Holding will “acquire stakes in the...
The Togolese government is on the brink of adopting a national strategy for financial inclusion. A seminar was held yesterday, July 7, to discuss this strategy.
The document will be a formal framework consolidating initiatives related to financial inclusion. Official sources said it aims to “tackle regional disparities in accessing financial services." "This," they added, "will help...
In Togo, the cost of the Covid test for those traveling by air was reduced from CFA40,000 (about $70) to CFA25,000 ($45). The decision was validated by the government on July 7 in a decree signed by the minister of health, Moustafa Mijiyawa, and the minister of finance, Sani Yaya.
“The subsidized price of the SARS-CoV2 diagnostic test is set at CFA25,000. Payment terms will be set...
Ecobox, a project that aims to keep Aneho and its surroundings clean was launched on July 5, 2021. This project, initiated by Africa Global Recycling and financed by Togocom, contributes to sustainable development, improves living standards, tackles pollution, and fosters eco-entrepreneurship in Togo.
“The sustainable management of waste in our municipalities must imperatively go beyond...
PIA to become major shareholder of Togo’s Risk-Sharing-based Agricultural Financing Mechanism (MIFA)
Adetikope Industrial Platform (PIA), a joint venture between the Togolese State (35%) and Arise IPP (65%), will become MIFA’s major stakeholder. The move was announced at the end of the council of ministers held yesterday, July 7.
The PIA’s stake in the MIFA is yet to be disclosed but the State, however, said it would head the company’s board of directors.
The State itself...
Togo produced more than 1.26 million metric tons (Mt) of grains in 2020, up from nearly 1.19 million metric tons in 2018 (+6.5%). The figures, disclosed by the BCEAO, only cover the corn, millet, and sorghum sector.
In detail, the country’s corn output grew by 7% between 2018 and 2020 - from over 886,000 Mt to nearly 950,000 Mt (it passed 900,000 Mt in 2019). Corn, it should be...
Faure Gnassingbé, Togo’s President, should attend - according to sources close to the Togolese presidency - a top-level meeting that will be hosted by Ivorian President Alassane Ouattara and the World Bank. Set to take place in Abidjan on July 15, 2021, the event will gather over 20 African leaders who will highlight the importance of an ambitious and robust 20th replenishment of the...
Last week, on July 2, Togo and Gabon signed a memorandum of understanding to make it easier for the former to import wood products from the latter. The MoU was signed in Libreville, Gabon, by the Togolese Minister of forest resources and environment, Katari Foli-Bazi, and Gabon’s Minister of water and forest resources, Lee White.
The five-year agreement will mutually open up the countries’...
New irrigation systems and superstructures will be built in about 50 planned agricultural development zones (ZAAP), spread across 13 prefectures of Northern Togo. Related construction works should be completed within six months.
In line with the project, the Togolese ministry of agriculture and development recently launched a tender, closing on July 30, 2021, to...
About 80% of the Togolese population think the country offers many opportunities to start a business
Nearly 79% of Togolese citizens say there are good opportunities to start a business in the region where they live. The figure is from the 2020-2021 report of the Global Entrepreneurship Monitor (GEM), an international research center that studies entrepreneurial activity in several countries, worldwide.
The ages of the sample population of Togolese citizens covered by the study range from...
Lomé’s Court of Appeal sanctioned, last Monday, nine pirates with heavy jail sentences and fines. The culprits were brought to justice for trying to hijack - on the night of May 11-12, 2019 - the G-Dona 1 tanker, a Togo-flagged vessel owned by a Beninese shipowner.
The crew’s leader - a Nigerian named Peter Paul - received a 15- year sentence, a five-year entry ban in Togo, and a CFA 50...
For the second consecutive year, Togo meets the US requirements relative to budget transparency. This was disclosed in the US Department of State's latest Fiscal Transparency Report. The latter assessed fiscal transparency in over 140 countries, throughout 2020.
The West African has, over the period reviewed, made available to the public all information related to its budget, forecast...
Togo lost at least $3.9 billion between 2008 and 2017 due to trade misinvoicing. The figure is disclosed in a report recently published by Global Trade Integrity.
The American NGO said that on average Togo lost about $361 million or 30% of its total trade, per year, with the 36 advanced economies in the world, over 2008-2017. This makes it the second developing country worldwide,...