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To restart its economy, post-Covid-19, Togo seeks CFA25 billion on the regional money market.
To raise these funds, the country has issued, again, fungible treasury bonds. The latter have a nominal value of CFA10,000 per unit, according to the UMOA-securities agency.
The issue, which will close on June 11, 2021, is set to mature over 84 months, and the corresponding interest...
On June 9, the World Accreditation Day, Kodjo Adedze, the Togolese minister of trade, industry, and local consumption, called all business owners and lab heads to ensure that their products meet accredited standards.
Accreditation, he said, is indispensable to conquer the international market, especially in the context of the management of the Covid-19 health crisis, the post-pandemic...
In Togo, 70% of economic activities are related to the coastline and the country gets more than 75% of its tax earnings from them. The figures were disclosed last Tuesday, World Oceans day, by the minister of maritime economy, fishery, and coast protection, Edem Tengue.
According to Togolese authorities, trade via the port of Lomé generates a massive portion of the State’s revenues. In...
Olam International, a major food and agri-business company and new shareholder of the Nouvelle Société Cotonnière du Togo (NSCT), recently committed to boosting Togo’s cotton output for the new season. This is after a drop of 43% in production during the 2020-2021 season.
The global giant, in effect, launched on June 9, 2021, the 2021-2022 season, in Tsévié, with new...
Togo’s Tax Office (OTR) plans to launch a geolocalized tax census across the country’s five economic regions. The entity will deploy some of its agents to gather data from local communities.
The project, in the long run, will help draw a tax map, regrouping the data gathered in a single database.
The census should take six weeks in each region. In its framework, the OTR launched...
Between 2019 and 2020, loans given to non-residents by banks in Togo swelled by CFA317 billion, from CFA800 billion to CFA118.3 billion. The increase was disclosed in a BCEAO report, consulted by Togo First.
Meanwhile, non-residents’ outstanding debt fell by 33% over the same period - from CFA318.6 billion to 213.2 billion.
Let it be noted that in the Togolese banking...
In June last year, Togo said it completed the reprofiling of its internal debt, an operation started six months earlier. At the time, Moody’s, a rating agency, had declared that the debt reprofiling would cut the country’s debt service by around €130 million within the next three years. Now, a little more details explaining the reason for the success of the operation have...
The West African Development Bank (BOAD), with CFA50 million, wants to support environmental protection in Lomé. In this line, the regional lender launched a call for submission of projects by private entities, local authorities, and public actors. The call will close on July 30, 2021.
The project in question will improve systems in place to collect, sort, and recycle waste, as well as focus on...
Every year, the Togolese State could get nearly CFA670 million from fees collected on water extraction activities. The calculation was made by the ministry of water and rural hydraulics.
The fees would be collected from parties using the water for industrial purposes: sachet and bottled-water makers, agro-food, mining, extractive, manufacturing industries, cement plant, and...
Robert Dussey, Togo’s minister of foreign affairs, was in Turkey from May 29 to June 2. On this occasion, he announced that Turkish-Togolese economic days would be organized in the coming days. This should follow the business forum set to take place in Lomé this year, between September and December, gathering Togolese and Turkish economic operators.
“Now that the embassy is open, an...
Last thursday, Victoire Tomegah-Dogbe, the Togolese Prime Minister, established a coordination committee in line with the government’s ambition to achieve universal health coverage. This project cost $70 million financed by the World Bank.
The committee will steer the project’s implementation. The latter aims to boost basic health services and provide healthcare to all Togolese...
Togo’s first carrier hotel, Lomé Data Centre, was inaugurated on June 4 by President Gnassingbé.
It took two and a half years to build the digital facility. Located in Lomé, over a plot of one hectare, the center will serve to store and secure national data, as well as provide colocation server hosting services to private operators.
“As Togo modernizes and digitizes,...
On Sunday, June 6th, Faure Gnassingbé, the Togolese President, inaugurated the country’s first industrial platform, PIA. The ceremony took place less than a year after construction work started.
Developed over nearly 400 hectares, in Adetikopé (15 km north of Lomé), the platform materializes a new development vision: “to produce more locally, and be more competitive in international...
The Adétikope Industrial Platform (PIA), which is to be inaugurated on June 6, reflects the will of President Gnassingbé to make his country an industrial hub and create added value.
"This project is just one example of what can be achieved in Togo when the Republic of Togo and all investors and companies, who are serious about creating value, work towards a common goal," said the Head...
In a few days, Togo’s socio demographic statistics, as well as its economic and financial indicators over 2014-2019, will be available. On June 3, the National Institute for Statistics, Economic and Demographic Studies (INSEED) validated the directory containing this data.
The document provides information on important data related to the economy and many sectors of activity. This data...
From about 700,000 t in 2019, Togo’s phosphate production almost doubled to over 1.3 million t in 2020. This is an 87% increase according to latest data from the Central Bank of West African States (BCEAO).
This surge drove the WAEMU’s output up by 23.5% - the latter reached nearly 2.9 million tons last year. Senegal, which produced 55% of the region’s output, over the period...