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A total of CFA6.25 billion will be dedicated to the FACT, the Local Authority Support Fund. This was disclosed in a statement issued by the Togolese ministries of decentralization and economy on October 1.
The monies will support all 117 municipalities of the country and will be distributed based on their population size, area, and poverty level.
Part of the amount, CFA2.5 billion,...
Togo’s minister of trade, industry, and local consumption, Kodjo Adédzé, was at the Adetikope Industrial Platform (PIA) last week. He was there to evaluate how far advanced the construction of warehouses and local processing units was.
“The construction of warehouses and processing units for products such as soybeans is progressing well,” Adédzé tweeted after his...
Togo spent about 6% of its GDP to fight Covid-19 in 2020. The estimate was disclosed by the World Bank in its latest report on the state of Africa’s economy.
The percentage corresponds to around CFA260 billion, in budget expenditures, according to data from mid-2021. This includes additional spending related to Covid-19, or revenue foregone, relative to 2020’s gross GDP (about CFAF...
PIA is pleased to announce the creation of a world-class knit garment within it’s industrial zone unit named ‘Togo Clothing Company’. The total investment is valued at USD 35 million and is expected to generate USD 40 million worth of export value on an annual basis and 2,000 direct jobs.
Togo Clothing company (TCC), has been created by ITCRmg, a company who has a solid track record in...
Centre Urbain de Business et d'Entrepreneuriat (CUBE), a Lomé-based incubator, announced on October 11 the launch of K-PITAL Invest. This is a fundraising and finance-seeking program that the incubator will launch with the UNDP’s Accelerator Lab.
“K-PITAL INVEST will be a platform dedicated to connecting projects that have validated their financial and entrepreneurial management...
In Togo, places of worship and “large bars”, previously closed due to health measures adopted since September 10, have been allowed to reopen.
The government made the announcement last Friday, via a statement issued by the ministers of territorial administration and culture.
“Considering the evolution of the infection in our country and after an exchange with the actors, the places...
The Togolese parliament adopted, last Thursday, two laws that enact a reform extending the Audit Court's powers. The reform aims to enable the Court to adapt to the new context of decentralization and meet WAEMU standards.
The first law concerns the organization and functioning of the Court of Accounts and regional courts, while the second affects the status of magistrates in these...
GIZ, the German cooperation agency, is looking for a technical advisor (monitoring and communication) to join its team steering the German-Togo partnership for reforms. Recruitment ends on October 17, 2021.
The hired consultant will manage information related to the partnership’s planning and implementation. It will also technically support the Ministry of Planning, Development and Cooperation...
Togo will open an embassy in Saudi Arabia. The announcement was made last week by Togolese foreign affairs minister, Robert Dussey.
The decision aligns with efforts by the two nations to improve their relations. In this framework, several agreements should be signed in a few months. These include notably a memorandum of understanding between the Togolese and Saudi chambers of commerce, a deal to...
President Recep Erdogan from Turkey should be in Lomé on Oct. 20, 2021, for an official visit. The news was disclosed by TVNET, a Turkish media.
According to the same source, the leader, who will meet President Gnassingbe, will first be in Angola (October 17), and Nigeria (October 18).
President Erdogan’s trip to Togo is announced at a time when Lomé and Ankara want to boost their...
Togolese microfinance institutions loaned CFA47 billion between April and June 2021. That is CFA10 billion more than they did in the quarter before, and 38% more than in Q2 2020.
Similarly, loans by traditional banks stood at CFA217 billion in Q2 2021, up by 59% compared to the same quarter last year. Results for Q1 2021 were also satisfying, according to conclusions of the...
After six years of service in Togo, Brazil’s ambassador to Togo, Antônio Carlos De Salles Menezes, is ending his mission in the country. In this framework, he met with President Faure Gnassingbe to recapitulate progress made relative to the cooperation between the two countries.
According to the diplomat, trade between Brazil and Togo soared in recent years, reaching $97 million in 2017....
The World Bank has scaled up its growth forecast for sub-Saharan Africa and expects the region to come out of the Covid-induced recession.
“Sub-Saharan Africa is expected to emerge from the recession caused by the Covid-19 pandemic with an expected growth rate of 3.3% for 2021,” said the Bretton Woods institution in its latest semi-annual Africa's Pulse report, released on Wednesday, October...
Togo has administered over 1.1 million doses of the Covid-19 vaccine to date, the government said.
“1.13 million doses of vaccine have been administered to date. Covid-19 infections are down slightly thanks to your increasingly massive involvement,” the government indicated while urging the population to continue getting vaccinated, at a time when the momentum seems to be waning, according...
The Ministry of Maritime Economy, Fisheries, and Coastal Protection of Togo now has its premises since Monday, October 4, 2021. The information was disclosed in a statement issued Tuesday by the head of the ministry, Edem Kokou Tengué
“Progress and a new address, one year later…,” the ministry wrote on its website to announce its new address located on Avenue Nicolas Grunitzky,...
The Togolese Tax Authority (OTR) issued tax abatements on vehicles parked at the customs which are over five years of age. The abatements which range from 25 to 40%, depending on time spent at the customs, are effective since October 1 and will expire on December 15, 2021.
The following table details the various abatement rates and the corresponding periods:
DATE OF ENTRY INTO...