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Yesterday, June 29, the Togolese parliament greenlit the bill approving the privatization of the Nouvelle Société Cotonnière du Togo (NSCT).
With this milestone reached, talks with Singapore-based Olam group which eyes the State’s shares should soon begin. The private company could secure up to 51%, if not all, of the State’s 60% stake in the NSCT - the remaining 40% being detained...
As part of major infrastructure projects underway or already carried out in Togo, the government plans to build or rehabilitate 400 km of roads and 4,000 km of rural tracks.
This should make communities affected more accessible and contribute to their development.
By 2025, Togolese authorities hope to have 60% of roads across the country asphalted. This will be done through...
In Togo, quarantined repatriated citizens will have to pay XOF500,000, against XOF700,000 previously, to the State upon their return.
The government, therefore, takes care of the XOF200,000 difference during the 14-day period during which the returnees will be quarantined. The information was disclosed in a notice issued by the national team in charge of the covid-19 response on June 26,...
The State will give up its 40% shares in the Nouvelle Société Cotonnière du Togo (NSCT). The government adopted in this framework a bill to transfer the stake to the private sector, in full, if an interested investor is found, or in part.
For the moment, the other stakeholder of the NSCT is the national federation of cotton farmers (FNGPC) which holds 60% of the firm.
Let it be noted...
Five out of the 224 people who tested for Covid-19 last Thursday came back positive. Thus, the number of confirmed cases in Togo now stands at 588. Meanwhile, 294 of the infected have been reported to have recovered (67% of infected individuals), 14 have died (2.3%), and 180 are still active (30%).
These figures reflect overall stability, regarding the spread of the virus, in a context...
Over the next three months, at least 600 rural entrepreneurs will receive funds from the State to boost their businesses.
The support, which is part of the emergency plan of the national project to boost rural entrepreneurship (PNPER), targets micro, small, and medium rural enterprises (MSMRE).
In this framework, for the past three weeks, PNPER teams have been going around...
FAO signs financing agreements with 7 local partners on the sideline of its 40th anniversary in Togo
On June 25, 2020, the UN Food and Agriculture Organization (FAO) inked in Lomé seven (7) agreements to finance its local partners. This falls in the framework of the body’s forest and farmer facility.
In all, more than XOF130 million was disbursed in the process, and between 15%-20% of this amount will be spent on anti-coronavirus actions. The remainder will be directed towards...
The Central Bank of West African States (BCEAO) decreased its benchmark rates last Wednesday.
The decision was approved by the Monetary Policy Committee (CPM). It aims to support efforts of WAEMU member States to get their economies to rebound, after months where their “public earnings fell and their expenditures rose” due to restrictive measures put in place to contain...
The BOAD announced the launch of a program to refinance lending institutions in the WAEMU with XOF100 billion. The move was approved by the institution’s board of directors during its 117th meeting last Wednesday.
“The funds will help the private sector, especially micro, small, and medium enterprises (MSMEs) meet their needs for liquidity inherent to Covid-19, resume their activities...
L’Organisation des Nations unies pour l'alimentation et l’agriculture (FAO) a signé hier jeudi à Lomé, 7 accords de financements, au bénéficie de partenaires locaux, dans le cadre de son Mécanisme forêts et paysans.
C’est en tout plus de 130 millions FCFA qui ont ainsi été débloqués, dont 15 à 20% seront déployés pour les actions de riposte contre la covid-19. Le reste de ces...
Since the beginning of this year, the National Fund for Inclusive Finance (FNFI) has disbursed in XOF2.176 billion to about 21,000 beneficiaries, via its partnering financial institutions.
According to the Fund, last week was the most performant related to amounts disbursed -around 100 million for 442 people, compared to about 260 million throughout the first quarter of 2020.
Over...
Twenty-five billion CFA. That is the amount recently approved by BOAD’s board of directors in profit of Togo’s power utility. The monies will be used by the latter to pay part of its debt to power suppliers.
Among others, the funds should enable Togo to ease tensions with Nigeria which it owes, together with Niger and Benin, nearly XOF45 billion. Nigeria has even threatened many times...
A major milestone has been reached for the project to build a 161kV power transmission line connecting Natitingou, Tanguieta, Porga, and the Benin/Togo border.
The Communauté Electrique du Bénin (CEB), which is in charge of the project, indeed secured XOF15 billion from the West African Development Bank (BOAD) to partially fund its development. The Bank’s board of directors approved...
In a recent report, the Central Bank of West Africa (BCEAO) forecast WAEMU’s economic growth rate at 2.6% in 2020. This is 4 percentage points less than the apex bank’s initial forecast (6.6%) - a drop explained by the Covid-19 pandemic.
This was disclosed after the ordinary meeting of the Monetary Policy Committee (CPM) which took place earlier this week.
Another information...
On June 24, 2020, the West African Monetary Union (WAEMU) received half a billion CFA from France to hasten decentralization across its member States.
The money will be used to help the WAEMU’s territorial collectivities’ council implement the regional programme for support to decentralization in the region, over a two-year period.
The territorial collectivities’ council was...
The ministry of agriculture launched last Tuesday the agriculture and food Marketplace. This was done in Tsévié.
The platform, announced in April, should boost trade of agricultural commodities and foodstuff in Togo, mainly by centralizing data related to the various transactions made in the sector. Among others, the new marketplace aims at supporting all stakeholders of the agricultural...