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From 14 indicators in 2019 and 2020, Togo validated 15 out of the 20 indicators on the Millenium Challenge Corporation (MCC) scorecard for 2021. The card was released on November 10, 2020.
This makes Togo one out of 25 countries that validated a majority of the MCC indicators, and the second-best reformer in Africa, after Cape Verde. Meanwhile, 53 countries were taken off the rankings due...
In Togo, 12 supermarkets are taking part in the “Concours du Meilleur Promoteur du 228,” a contest aimed at valorizing the consumption of local products.
The contest, a first of a kind in the country, is sponsored by the ministry of trade and local consumption. The latter wishes to see supermarkets have more local products on their shelves and collaborate more with local...
The former head of Orabank Gabon, Mrs. Kayi Midedor is Togo’s new minister for investment promotion.
She took office last Monday, following a ceremony at the ministry of trade.
The new member of the Dogbé government will contribute to the consolidation of the country’s policy to boost its economic attractiveness, as well as its external funds' mobilization capacity, amid...
The Technical and Professional Senior High School of Lomé (LETP) will, over the next three years, get IT equipment, as a result of a partnership between the ministry of education and mobile operator Moov-Togo.
The various agreements sealing the collaboration between these two parties were signed last week by the minister of education, Dodzi Kokoroko, and the operator’s MD, Abdellah...
The West African Development Bank (BOAD) is exploring with the African Biofuel and Renewable Energy Company (ABREC) a potential partnership to advance the financing of clean energy projects.
To this end, the BOAD’s chairman, Serge Ekue, and ABREC’s CEO met on November 10. According to Ekue, their talks were conclusive.
ABREC promotes the use of renewables and energy-efficient...
This week, the commission of the West African Economic and Monetary Union (WAEMU) is assessing in Lomé the implementation of political reforms, community projects, and programs in Togo. The initiative falls under the commission’s sixth reform review, focused on accelerating regional integration. In detail, 116 regulations, as well as 11 community programs and projects will be reviewed.
These...
UK-based power developer BBOXX is seeking a managing director to take over its Togolese subsidiary. Applicants should preferably be Togolese citizens or from the diaspora.
The new manager’s main mission will include the continuation of BBOXX’s expansion strategy in the local market.
Active in Togo since 2017, the firm sets up domestic solar systems across the country. It was for...
Philippe Kokou Tchodie, the general commissioner of Togo’s revenue office, was recently appointed as chairman of the African Tax Administration Forum (ATAF).
Appointed during the ATAF’s latest virtual general assembly, the Togolese will lead the organization for two years. He will head the representatives of the body’s offices in South Africa, Burundi, Kenya, Morocco, Mozambique, Rwanda,...
In line with its ambition to optimize the cassava value chain, the Nouvelle Société de Commercialisation des Produits Agroalimentaires (NSCPA) is setting up in Atakpamé (161.5 km from Lomé) a cassava processing plant.
For this project, the NSCPA was backed by the Projet d’Appui à l’Employabilité et à l’Insertion des Jeunes dans les Secteurs Porteurs (PAEIJ-SP or Program...
Last Thursday, the Higher Authority for the Prevention and Fight against Corruption and Related Offenses (HAPLUCIA) set up a committee to steer an upcoming national strategy to fight these crimes. This committee has 40 members.
The move aligns with the government’s desire to restructure the HAPLUCIA and fight corruption more efficiently.
Indeed, against expectations, the institution’s...
From now till December 24, 2020, Togo’s revenue office (OTR) is offering a 40% discount on clearance fee for vehicles and goods not yet delivered.
The move, which aligns with the OTR’s tax relief strategy, will help boost the clearance of the goods mentioned. This is a Christmas gift that should very much please businesses, importers, exporters, tax commissioners, and...
To help fight cybercrime, the European Union and Germany will provide €7 million to the ECOWAS States. The financing falls under a project backed by the German Cooperation Agency (GIZ) and Expertise France.
In effect, the funds will be used to reinforce information infrastructure, improve cybercrime laws - in line with regional, continental, and international standards, and train...
Togolese authorities plan to ensure the annual maintenance of over 9,800 km of rural roads in the country. In detail, every year 7,020 km will be maintained manually and 2,808km mechanically.
This was disclosed by the minister in charge of opening up rural areas, Issa-Tchédé Kanfitine, during a meeting with the various actors concerned by the project.
The latter, it should be...
On November 5, the Togolese parliament approved the country’s adhesion to the Asian Infrastructure Investment Bank (AIIB) and the Africa Finance Corporation (AFC).
Togo will leverage the two institutions’ support to “conceive, finance, and undertake infrastructure projects that will help our country grow,” declared Sani Yaya, Minister of Finance and Economy.
Founded by China, the...
In 2019, Togo’s formal banking penetration rate stood at 25.1%, against 26.6% the year before. This means the country was, for the second consecutive year, WAEMU’s best performer in terms of adults with an account in banks, post offices, national saving funds, or the treasury.
Last year, right after Togo were Benin (24.8%), Burkina Faso (23.2%), and Guinea Bissau (20.3%). At the far...
In the past four years, the Togolese insurance market recorded a 25% increase in generated revenues. From CFA48 billion in 2015, they rose to CFA60 billion (after standing at CFA58 billion two years before).
Considering that very few people are insured in Togo (20%-30% of the population according to the national insurance office), there is still much room for improvement in the...