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Last Thursday, Vliet Automotive Togo supplied 11 MAN trucks and 11 SCHMITZ CARGOBULL trailers to the hauliers of Brasserie du Bénin (BB Lomé). The provision of the equipment, worth CFA700 million, is part of a strategy to renew the brewer’s commercial fleet.
Keys of the vehicles were given to the hauliers in Lomé (where Van Vliet is based) by African Lease, the lessor that financed...
In the past three years, Togo’s néré seeds output rose from 110 t in 2018 to 126 t in 2020. The figure was reported in a study conducted by the FAO and the Agricultural Statistics, Information and Documentation Directorate (DSID).
According to this study, the earnings of actors operating individually in the sector rose from CFA42 million in 2018 to CFA79 million last year. As for those...
The government plans to amend the chart of micro and medium-sized enterprises, to make it match the current economic and social context more. This was discussed during this week’s council of ministers, held on Wednesday.
“Due to the challenges preventing a true expansion and growth of the people’s entrepreneurship capacities, it became necessary to amend the existing chart to...
From October 5 to 7, this year, Lomé will host the Rencontres Africa summit, a gathering of French investors and African economic operators.
This was disclosed yesterday by the event’s general commissioner, Marc Hoffmeister, in the presence of Jocelyne Caballero, France’s ambassador to Togo, Laurent Tamegnon, president of the national employers’ council of Togo, and Rose Kayi...
Preliminary works for the construction of two solar plants, one at Salimde (in Sokodé), and another one at Awandjelo (Kara), will commence soon. Two decrees were passed to this end during the government’s latest council of ministers, held on June 16.
The council said adopting the decrees would “enable the start of compensation and expropriation procedures to secure the areas needed...
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...