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On March 8, 2021, the Central Bank of West African States (BCEAO) injected CFA218 billion into Togo’s banking market, at an interest rate of 2%.
This loan is part of a larger amount - CFA3,419 billion - the Bank gave to commercial banks across the countries it covers. The facility is one of the weekly disbursements the BCEAO provides to the region’s 92 lenders.
Out of the total...
To set up his cement factory in Togo, Inoussa Kanazoe, CEO of Cim Metal Group, will spend CFA65 billion. The plant, which will mark the beginning of the group’s activities in the country, is set to produce 25 million tons of cement per year.
The news was disclosed by Bassirou Sana, director of Cimco (Togolese subsidiary of Cim Metal Group). The executive said the plant should open next...
AfricSearch Togo has been picked to recruit the members of the Management Team in charge of the e-ID Togo project. The task was trusted to the subsidiary of the eponymous human resources consulting firm by the ministry of the digital economy and digital transformation.
In detail, the firm will find around 20 people, including a project manager. The deadline for application is March 22,...
In Togo, the Covid-19 vaccination campaign officially began on March 10, 2021. The first person to get a shot of the AstraZeneca was Prime Minister Victoire Dogbe.
Under the pilot phase of the campaign, mainly health workers, both in the private and public sectors will be vaccinated. Besides them, it should cover 60% of people of more than 50 years old living in the Greater Lomé region -...
To increase women’s participation in the West African finance industry, the African Development Bank (AfDB) disbursed $320,000 to promote gender inclusion in digital financial services across the ECOWAS space.
Announced last week, the new facility will help assess the gender gap and disparities in this sector. In effect, the funds will finance “a gender gap survey of several West...
Robert Dussey, Togolese minister of foreign affairs, and his Algerian counterpart, Sabri Boukadoum, met last Sunday. On this occasion, the two officials announced the creation of an Algeria-Togo business council to consolidate trade between their countries.
In detail, the council which will be set up by the Togolese and Algerian chambers of commerce will help facilitate concertation and...
On Monday, 8 March, PM Victoire Tomégah-Dogbé launched the Program of Excellence for Women in Africa (PEFA). The latter is a presidential initiative aimed at enabling more young women to create wealth for Togo.
In its pilot phase, the project will target 20 women, aged between 20 and 28 years, holding at least a bachelor's or in their final year of bachelor’s degree in a local...
The National Social Security Fund (CNSS) launched last Monday a 5-week workshop to boost businesses’ capacities relative to the management of professional risks.
According to a source close to the institution, the training sessions are taking place live and online. Organized in partnership with the International Labor Organization (ILO), they target security, environment and hygiene...
On March 7, 2021, Togo received its first doses of Covid-19 vaccines, in the framework of the Covax initiative. This first batch includes 156,000 doses of AstraZeneca vaccines, 157,500 syringes, and 1,575 security boxes.
The stock came aboard an Air France cargo. It was received by the minister of health, Moustafa Mijiyawa, at the tarmac of the Gnassingbé Eyadémé International...
Last Friday, the Adétikopé Industrial Platform (PIA) officially signed with Togo Agro Resources SAU an agreement welcoming the latter as its second shareholder, after Togo wood Industries SARL.
Togo Agro Resources “will process soybeans, into edible oil mainly, helping the country become a soybean oil exporter in the sub-region,” executives at the PIA said. In the coming months, the...
Last Friday, Togo raised CFA148 billion for its latest simultaneous bond issue on the WAEMU securities market. The country, which was seeking CFA40 billion to restart its economy post-Covid, thus recorded a coverage rate of around 371% for the operation.
The bonds issued are fungible treasury bonds, with respective maturities of 36 months (3 years) and 60 months (5 years). The first...
On which priorities should the cooperation between the EU and Togo focus in 2021-2027? A survey was recently launched by the EU, Germany, and France, to obtain the answer to this question.
For those behind the survey, the aim is to get feedback that will enable them to better contribute to Togo’s development over the period concerned.
By answering the survey’s questions and...
Exim Bank of India injected $6.5 million (+3.5 billion FCFA) in a project to build Medium and low Voltage networks, aimed at boosting power supply in major Togolese cities.
The financing is a credit line the government of Togo secured from the Asian lender. The project concerned will cover six localities, namely Aného, Kpalimé, Atakpamé, Sokodé, Kara, and Dapaong.
The contract...
Togo plans to organize capacity-building sessions in port and maritime logistics for 60 actors of the blue economy. To this end, it is recruiting a specialized firm, via the Presidency of the Republic.
The project, financed by the World Bank through the Project to Support the Competitiveness of Logistics Services for Trade, will boost capacities of authorized customs agents and brokers on...
In Togo, technical visit formalities are now subject to payment of the Motor Vehicle Tax (TVM). This was disclosed in a joint statement issued by the Togolese Revenue Office (OTR) and the Directorate of Road and Rail Transport (DTRF).
“Technical inspection formalities are now subject to a systematic control of the receipt attesting of the TVM’s payment,” reads the communiqué co-signed by...
In Togo, SMEs and SMIs consuming between 120 and 150kVA of power will not pay to get connected to the public grid. This falls under the government’s efforts to improve the country’s business climate.
In a statement it recently released, the Togolese power utility declared that “the cost for connection to the medium tension network of the public grid has been made free for SMEs and...