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So far, the government of Togo has mobilized CFA363 billion out of the CFA400 billion it set its eyes on for its Covid-19 recovery and solidarity fund. This was recently disclosed by the minister of trade, Kodjo Adédzé.
According to the official, the sum came mostly from goodwill donors, technical and financial partners, but also the private sector. “Part of the money came from technical and...
Recently in Togo, Gerd Müller, Germany’s minister for economic cooperation and development, inked a new partnership with Togo. The €142 million deal will revolve around three axes that will contribute to the country’s socio-economic development.
In detail, the first axis of the agreement aims to improve Togo’s business environment, by leveraging quality professional training,...
The government has opened up the shareholding of the MIFA, a mechanism promoting agricultural financing in Togo, to the PIA, an integrated industrial platform, and Arise Special Economic Zone, a Mauritian company and mother company of Arise IIP which designed the PIA. The two newcomers join the State and the FNGPC, a federation of cotton farmers.
The announcement was made in a statement...
Last Friday, Togo closed its fifth bond issue, with a 7-year maturity, on the regional money market. The operation, a treasury recovery bond issue, enabled the country to raise CFA27.5 billion. This new success reflects investors’ sustained trust in Togo since the end of the sociopolitical crisis it experienced in 2017.
For the fourth issue, which closed on May 21, average weighted...
Olam International, the majority stakeholder in the New Cotton Company of Togo (NSCT), plans to invest CFA4.6bn in the 2021-2022 cotton campaign. It eyes an output of 135,000 t for the season.
Part of the funds will be spent on industrial infrastructure, tech equipment, management software, including the NSCT’s integrated management software package SAP which will serve to manage...
On June 15, the Adetikope Industrial Platform (PIA) and the Togolese Institute for Agricultural Research (ITRA) signed a contract under which the latter is to provide the former 60 t of soybean seeds for the 2021-2022 season.
The TGX1910-14F seeds will feed the soybean value chain which Togo Agro Resources SAU, a firm settled at the PIA, entered. The agribusiness company will intervene in...
A development and urbanization masterplan will be adopted by six local municipalities. The project, led by the government, will be partly financed by the PIDU, an urban development and infrastructure project with an estimated value of $30 million.
The six municipalities concerned are Zio 1 (in the maritime region), Ogou 1 and Kloto 1 (Plateaux), Tône 1 (Savanes), Kozah 1 (Kara), and...
Togo’s trade deficit (including services) widened further last year. From CFA349 billion in 2019, it deepened by 31% to CFA460 billion, according to recent data released by the BCEAO.
This is mostly due to the Covid-19 which almost froze the global economy, and Togo’s especially, as governments shut their borders and implemented various restrictions to contain the spread of the...
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...