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Togolese car dealer Diwa International has increased its equity to more than CFA750 million, after raising its capital by over CFA500 million.
According to our sources, Jonas Daou’s company issued 55,150 new shares with a nominal value of CFA10,000, fully subscribed and paid in cash. This should allow the firm which partnered a few months ago with Morris Garage (MG) to better...
In line with efforts to become a digital hub by 2025, Togo plans to implement an e-ecommerce development strategy backed by a five-year project going from 2022 to 2027.
To this end, the authorities are carrying a study to assess the e-commerce sector in Togo, and determine what is needed for the strategy to succeed.
The move takes place as the country tries to democratize...
The West Africa-focused investment management and advisory firm, Brightmore Capital, will support the K-pital Race program recently launched by the Centre Urbain de Business et d’Entreprenariat (CUBE) and 20 other African incubators.
Based in Dakar and Abidjan, Brightmore Capital, which specializes in impact investing, “will intervene in the selection, capacity building and...
In the next few days, the five modern cassava flour (gari) production units projected in the Vo prefecture will be operational. The announcement was made last week by the Shared-risk Agricultural Financing Incentive Mechanism (MIFA) which is behind the project.
“The gari factories in the VO prefecture will soon be operational. The machines have finally arrived and are being installed in...
The Urban Center for Business and Entrepreneurship (CUBE) announced that from September 13 to 18, 2021, the city of Aneho would host the sixth edition of the AGAU RÂ meetings. The event, which didn’t take place in 2020 as initially planned (due to the pandemic), will be officially launched on May 8, via a webinar.
Called K-pital - Race, the coming edition, more than previous ones, should be...
A new legislative framework was adopted in Togo to boost the practice of physical activities. Last Tuesday, the parliament passed a bill setting new rules for organizing, developing, and promoting these activities.
The new regulation, which has 67 articles, is “an updated version of the 2011 charter which became fully obsolete given the country’s new ambitions.” Among other changes, it...
After Togo and Benin, Gozem, the Lomé-based Uber-like startup, is now operational in Gabon, Libreville.
“We are very pleased to start our operations in Gabon with a simplified, safer and more convenient cab booking solution. We are confident that our innovation in the Gabonese market will create real value for passengers and drivers. Very soon, we will expand our range of services in...
Geospatial and demographic data analyzed by predictive algorithms enabled the Togolese government to refine targeting and optimize the second phase of its Novissi cash transfer program, supported by the international NGO GiveDirectly.
AI used to support Novissi
Artificial intelligence tools have been made available by the World Bank, through the International Development Association (IDA)...
Only a few days after getting the Gnassingbé Eyadéma International Airport (AIGE) accreditation, for its level of security and safety being higher than the world average, Togo is considering a new project to improve the existing regulatory framework.
According to Akodah Ayewouadan, one of the spokespersons for the Togolese government, this new project is the result of an audit that praised the...
The African and Malagasy Robusta Coffee Agency (ACRAM) will open its training center, the Acram Coffee Academy.
This was decided during the Agency’s 9th ordinary general assembly recently held in Lomé. The talks focused mostly on ways to revamp the Robusta coffee industry in Africa, as it greatly suffered from the Covid-19 pandemic.
Overall, “the resolutions adopted at...
Togo’s minister of finance, Sani Yaya, ended his mandate as chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID). He has been replaced by Benin’s minister of finance, Romuald Wadagni.
Yaya was appointed as president of the Board a year ago amid the rise of Covid-19 in the region, and as ECOWAS member States were implementing efforts to support...
At the end of last week, Togo signed the statute of the Labor Center of the Organization of Islamic Cooperation (OIC), at the latter’s headquarters in Jeddah, Saudi Arabia. The document was signed by Abdel Nasser Fofana, interim general consul in Togo, in the presence of OIC’s secretary-general, Youssef bin Ahmed Al-Otharimeen, and the Assistant Secretary-General for Economic Affairs, Ahmed...
Last week, the International Finance Corporation approved a $20 million loan for Daybreak Power Solutions, a subsidiary of Daystar Power Group. The monies should facilitate the expansion of the Nigerian hybrid solar power supplier in Togo and two other countries in the sub-region.
In detail, the facility “consists of a $10 million loan in the local currency (ed.note: naira), provided...
The French embassy in Togo recently announced it would invest between CFA20 to 40 million in 10 projects that will benefit young entrepreneurs and women. A call for projects, whose first phase will end on May 21, 2021, was launched to this end.
The funds, which will be disbursed in the framework of the Innovative Projects led by the Civil Society and Actors’ Coalitions (PISCCA), should help...
Badanam Patoki is the new chairman of the Regional Council for Public Savings and Financial Markets (CREPMF). This was disclosed on the official website of the regulator of WAEMU’s debt market.
Patoki, who was until April 29 the secretary general of the Togolese ministry of economy and finance, takes over from Senegalese Mamadou Ndiaye whose three-year term came to an end. The...
Togo spent the equivalent of $116 million (about CFA63 billion) - 2% of its GDP - on military expenditures in 2020. This is according to a ranking by the Stockholm International Peace Research Institute (SIPRI), published on April 26. The ranking is dominated by North African countries, with Algeria, Morocco, and Egypt leading. In the sub-Saharan region, South Africa, Nigeria and Kenya...