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A year into their partnership, the Cube incubator launched its first support program backed by Cofina Group. Prime XL is the program’s name and it solely targets businesses that are at least 3 years old.
Up to 500 businesses could get access to a maximum of CFA25 million, under the scheme. The monies, loans, will be provided based on the needs of the businesses and their nature. Eligible...
A total of 1,178,587 Togolese citizens were found to hold a bank account in 2020. According to the Banking Commission of the West African Monetary Union (UMOA) which released the information via an annual report, the figure marks a 7% increase in the bancarization rate in Togo, compared to the previous year where it stood at 1,099,990.
The accounts are held in 13 banks and 3 financial...
For the first time, the ministry of economy and finance released, last June, a report assessing how much the State loses as a result of tax exemptions it introduced. In this article, Togo First takes a closer look at the 28-page document elaborated by the Togolese Revenue Office (OTR). The report, authorities said, aligns with continuous efforts to improve governance, especially in the management...
Togo’s National Cybersecurity Agency (ANCy) launched a logo design contest last Thursday. This aligns with its decision to build its visual identity.
Applicants - Togolese of more than 18 years - have until September 13, 2021, to submit their design. The winner will get CFA1.5 million while the runner-up and third will respectively get CFA500,000 and CFA300,000.
The ANCy was established...
The Adétikopé industrial platform (PIA) received, for its dry port, cutting-edge handling equipment. The news was disclosed by Arise Group which manages the infrastructure.
The equipment includes Reachstakers, empty container handlers, Terbergs, and trailers. These will serve to move containers from one place to another.
The dry port or inland container depot was inaugurated on August...
Togo will hold the fourth international conference on social enterprises and corporate and social responsibility next week, on September 9 and 10. One of the organizers, the ministry of grassroots development, youth, and youth employment announced the event in a press conference organized last Thursday.
The conference’s theme is “Social Entrepreneurship: A lever to dynamize job creation in...
The International Monetary Fund (IMF) appointed last Wednesday its new resident representative in Togo: Maximilien Kaffo. Kaffo, a Cameroonian, replaced Burkinabe Jules Tapsoba who has held the position since September 2017.
The Cameroonian joined the Bretton Woods institution in 2014, as a consultant. Before that, he was working in his country as an economist at the ministry of...
A delegation from the WAEMU commission is in talks with the Togolese authorities regarding the implementation of the government’s project to build affordable housing for low-income individuals. The meeting started yesterday in Lomé.
The delegation is led by the coordinator of the technical assistance component of the WAEMU Affordable Housing Finance Project (financed by an IDA grant). The...
OMCA-Togo, the entity in charge of implementing the Millennium Challenge Corporation Threshold in Togo, officially started its activities on Sept. 1. The government and MCC proceeded to the launch.
OMCA will work on implementing reforms aimed at bolstering the land and ICT sectors in Togo. These are the two sectors on which the Threshold deal, sealed in 2019, covers. The amount allocated to the...
Togo recently acceded to the Agreement establishing Afreximbank’s Fund for Export Development in Africa (FEDA). This was revealed in a statement issued by the Bank on Tuesday, August 31.
Togo signed the Agreement alongside South Sudan. They joined Rwanda (which has ratified the Agreement), Mauritania, and Guinea as signatories.
According to Benedict Oramah, President of Afreximbank and Board...
The World Food Program (WFP) will focus its activities in Togo around three axes over the 2021-2022 period. This was disclosed by the entity’s resident representative and country director, Aboubacar Koisha, during a meeting with Prime Minister Victoire Tomégah-Dogbé.
The first axis is social protection and social nets. It will cover 170,000 people struggling due to the ongoing health crisis...
The government disbursed CFA300 million for cultural actors, under the 2021 Fund for Support to Culture (FAC). The list of beneficiaries was released by the ministry of culture and tourism on September 1.
The money will finance 512 projects picked out of 965 submitted in response to a call for projects launched by the government. This is a timely blessing for cultural actors who have been...
Togo has joined the OECD/G20 Inclusive Framework on base erosion and profit shifting (BEPS). It was disclosed on the OECD's official portal.
Togo is the 140th country to join the tax reform. Doing so, it commits to implementing the 15 reforms the OECD recommends to tackle tax avoidance and regulate multinationals' activities.
"Through its membership, Togo has also...
Set to end next December, the School Assur program has covered 2,615,962 healthcare services as of August 29, 2021. The data was disclosed by the ministry of financial inclusion and the informal sector.
In detail, the program has financed 1,031,059 medical visits, 13,660 admissions, 48,097 surgeries, 290,310 analyses, and 1,232,836 drug purchases.
According to the source, the...
Togo’s Prime Minister, Victoire Tomégah-Dogbé, is among Africa’s top 100 most influential women. She’s is featured in Avance Media’s annual ranking of influential women in Africa and its diaspora.
“We believe this project provides us with another opportunity to not only celebrate African women but to showcase the individual and collective achievements of women who are inspiring...
From now on, the motor vehicle tax (TVM) paid by lorry drivers will be checked at designated weighing points. This was announced by the Office Togolais des Recettes (OTR) and the Société Autonome de Financement de l'Entretien Routier (SAFER).
"Before checking up weight and axle load of lorries and others, payment receipts of the TVM must be presented,'' reads the statement issued by the OTR...