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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...
Olam International, a major food and agri-business company and new shareholder of the Nouvelle Société Cotonnière du Togo (NSCT), recently committed to boosting Togo’s cotton output for the new season. This is after a drop of 43% in production during the 2020-2021 season.
The global giant, in effect, launched on June 9, 2021, the 2021-2022 season, in Tsévié, with new...
Togo’s Tax Office (OTR) plans to launch a geolocalized tax census across the country’s five economic regions. The entity will deploy some of its agents to gather data from local communities.
The project, in the long run, will help draw a tax map, regrouping the data gathered in a single database.
The census should take six weeks in each region. In its framework, the OTR launched...
Between 2019 and 2020, loans given to non-residents by banks in Togo swelled by CFA317 billion, from CFA800 billion to CFA118.3 billion. The increase was disclosed in a BCEAO report, consulted by Togo First.
Meanwhile, non-residents’ outstanding debt fell by 33% over the same period - from CFA318.6 billion to 213.2 billion.
Let it be noted that in the Togolese banking...
In June last year, Togo said it completed the reprofiling of its internal debt, an operation started six months earlier. At the time, Moody’s, a rating agency, had declared that the debt reprofiling would cut the country’s debt service by around €130 million within the next three years. Now, a little more details explaining the reason for the success of the operation have...
The West African Development Bank (BOAD), with CFA50 million, wants to support environmental protection in Lomé. In this line, the regional lender launched a call for submission of projects by private entities, local authorities, and public actors. The call will close on July 30, 2021.
The project in question will improve systems in place to collect, sort, and recycle waste, as well as focus on...
Every year, the Togolese State could get nearly CFA670 million from fees collected on water extraction activities. The calculation was made by the ministry of water and rural hydraulics.
The fees would be collected from parties using the water for industrial purposes: sachet and bottled-water makers, agro-food, mining, extractive, manufacturing industries, cement plant, and...
Robert Dussey, Togo’s minister of foreign affairs, was in Turkey from May 29 to June 2. On this occasion, he announced that Turkish-Togolese economic days would be organized in the coming days. This should follow the business forum set to take place in Lomé this year, between September and December, gathering Togolese and Turkish economic operators.
“Now that the embassy is open, an...
Last thursday, Victoire Tomegah-Dogbe, the Togolese Prime Minister, established a coordination committee in line with the government’s ambition to achieve universal health coverage. This project cost $70 million financed by the World Bank.
The committee will steer the project’s implementation. The latter aims to boost basic health services and provide healthcare to all Togolese...