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Togo should record a 3.5% economic growth this year. The figure was recently published in an IMF report on the latest economic outlook in sub-Saharan Africa.
While the forecast is more optimistic than the World Bank’s, knowingly 3%, they are more modest than the African Development Bank’s (AfDB) who forecast economic growth in Togo at 4.3% in 2021.
The Pan-African's expectation...
On April 26, Togocel, a subsidiary of TogoCom Group, will be in court to defend against an accusation from the Togolese telecom regulator ARCEP, which claims it has violated its on/off-net tariff differentiation rule.
According to a source contacted by Togo First, Togocel affirms that it was accused of unfair competition, and not for violating ARCEP’s on/off-net tariff differentiation...
Every year, businesses that are members of the European Trade Chamber in Togo (CCET), also known as Eurocham-Togo, generate a turnover of around CFA200 billion. The Chamber, which is chaired by the CEO of Bolloré Africa Logistics Togo, Charles Kokouvi Gafan, employs nearly 2,000 people.
Eurocham is a real interface connecting European investors active in Togo with Togolese authorities, but also...
Togo received last Friday 200,000 doses of China’s SINOVAC vaccines against Covid-19. This happened in the presence of the Togolese minister of health, Moustafa Mijiyawa, and China’s ambassador Chao Weidong. The vaccines arrive only a few days after the government proceeded to the strategic reorganization of its vaccination campaign across the country. The supply will cover 100,000 people who...
Last Thursday, Togo’s Prime Minister, Victoire Tomegah-Dogbe, and the Netherlands’ Queen, Her Majesty Maxima Zorreguieta who also happens to the UN’s Secretary-General for inclusive finance, held a virtual meeting.
During the webinar, the Togolese PM talked about Togo’s achievements in terms of financial inclusion. In detail, she presented actions and mechanisms initiated by Lomé...
Togo’s public power utility, CEET, is running a promotion campaign to improve access to electricity in rural areas. Under the campaign, people of the Plateaux and Maritime, Savanes, and Kara regions can get connected to the grid at a cost of CFA20,000 only.
It should be noted, however, that the promotion ends on May 25th in the first two regions and on July 14th for the other two.
The cost...
Since it was taken over by Sunu Group in 2018, as it was in an impasse, the BPEC, now Sunu Bank, has been trying as much as possible to get back on its feet.
Indeed, the losses that the lender accumulated since 2008 - the year in which dividends were last paid to its shareholders - were cleared in the past two years. This small win, according to Myriam Adotevi, MD, Sunu Bank Togo, is the...
Marc Ably-Bidamon, Togo’s former minister of mines and energy, has been appointed minister-advisor of the President of the Republic in charge of issues related to the digital sector and digital economy.
Ably-Bidamon has much experience in the telecom and telephony sector. Holder of a Master’s in Telecommunication from the University of Lille in France, a DEA in electronics, and a...
Dematerialization of procedures at the Autonomous Port of Lomé (PAL) will begin on May 3, 2021. The process, let it be recalled, was announced last March, 4th.
The PAL’s top management hence urges businesses, tax commissioners, and others to connect to the digital platform developed to this end (https ://epaltogo.com), provided they have their access details (username and...
MIFA, ProMIFA, and FAO work on strategies to develop poultry, corn, rice, and tomato sectors in Togo
Teams from the Mécanisme Incitatif de Financement Agricole fondé sur le partage de risques (MIFA), the MIFA support project, and Food and Agriculture Organization (FAO) are currently carrying out a data collection campaign to finalize strategies to develop the poultry, corn, rice, and tomato sectors in Togo.
The strategies will, according to delegates from the three bodies, “not...
On Friday, April 23, the Kekeli Efficient Power thermal plant located in the port area will be commissioned. Marc Alberola, Top Manager at Eranove - the concessionaire of the infrastructure- made the announcement.
“The lighting of the first flame will begin the industrial operationalization phase under which the first output of 47MW (open cycle) will be produced” by a Siemens SGT-800...
Togolese authorities have updated the online platform dedicated to the Trade and Housing Credit Registry (RCCM). The new version allows businesses and individuals to carry out operations, notably those related to movable securities, without the support or prior approval of the Registry of Commercial Court of Lomé.
Concretely, any registered RCCM user can open an account and/or...
In line with ambitions to become a digital hub by 2025, Togo greatly leveraged ICTs to handle the Covid-19 health crisis. This, despite experts’ claims that the digital revolution in the country is relatively modest.
Smartphones, a vector of solidarity amidst the pandemic
In the early stages of the pandemic, Togolese authorities launched the Novissi cash transfer scheme, a mobile...
Two weeks into the audit launched by Lomé’s international airport (AIGE) to get its aerodrome certified, experts from the International Civil Aviation Organization (ICAO) said the platform meets 80% of security standards imposed by the organization. This is 20% more than the global average, commented Edem Semenya, aerodrome inspector and chief of the auditing team. According to him, the AIGE...
At the end of Q4 2020, Togo’s debt to GDP ratio was 59%, according to its minister of economy and finance, Sani Yaya.
This is 8% more than the figure recorded at the end of Q3 2020. This was subsequent to the GDP rebasing after which the national GDP was re-evaluated at CFA4,230.6 billion in 2019, from CFA3,216.8 billion (before the rebasing). In debt-to-GDP ratio terms, before...
In Togo, banks have deferred the loan repayment of at least 438 businesses and 1,454 people, in line with the BCEAO’s relief incentive. This was revealed last Thursday by the minister of economy and finance, Sani Yaya. In all, the repayment of CFA28 billion was pushed back to provide more room for businesses and individuals hit by the ongoing health crisis to breathe.
The incentive was...