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Serge Ekue is the new boss of the West African Development Bank (BOAD). The Beninese thus takes the place of his fellow countryman, Christian Adovelande, who had been in office since 8 February 2011.
In a statement issued by the Bank, Togo’s minister of economy and current chairman of the WAMU council of ministers, Sani Yaya, announced Ekue’s appointment - a decision that was approved during...
In the past soybean marketing year (Oct. 2019 to July 2020), Togo’s export revenues amounted to around CFA 50 billion. The figure was disclosed last week by the interprofessional soybean council and relayed by republiquetogolaise.com.
Overall, the country which is striving to become a leading producer of organic soybean produced 167,100 tons of soybeans (organic and non-organic) over the...
The International Renewable Energy Agency (IRENA) seeks consultants to implement a program to strengthen electricity grid infrastructure in the Economic Community of West African States (ECOWAS).
A call for proposals was launched in this framework. Applicants picked for the project will work closely with power companies, country regulators, and the ECOWAS regional center for renewable...
Togo has again extended anti-Covid19 measures taken within the framework of the state of health emergency to September 15, 2020. The related order was issued on August 14.
Initially declared on April 1, the state of emergency was supposed to last three months but was later extended to August 16.
The exceptional situation, let it be recalled, allows the Togolese Head of State, Faure...
An online mining registry has just been launched in Togo. The platform was developed by the Direction Générale des Mines et de l’Energie (Directorate General of Mines and Energy or DGME).
Users can access, on the website, up-to-date data, mine maps, deeds, licenses, active firms, and the types of ores extracted in the country. This information will be updated daily, according to the...
In Togo, the anti-covid-19 measures affected around 62% of jobs. The figure was revealed in a World Bank report published recently.
The document also highlights a fall in production and sales across many sectors. Among the latter, the services sector is the most affected by the pandemic with 49% of jobs affected. The remaining 13% of jobs affected are in the industrial sector, retail,...
Togo sustains its performance in the World Bank’s country policy and institutional assessment (CPIA)
For the third consecutive year, Togo improved its score in the World Bank’s country policy and institutional assessment (CPIA).
According to the latest update of the document released this month, the country scored 3.3, thus 0.1 points more than last year and above the average score of sub-Saharan countries.
Togo performed especially well - with a score of 3.6 - under the cluster...
Togo’s revenue authority (OTR) will soon launch an automated tracking system (ATS) to maximize revenue collection, trace some goods, and ease tax collection. The news was disclosed on republiquetogolaise.com, the government’s official portal.
Unveiled last week, the tool will also help ensure the safety and authenticity of goods concerned, expand the legitimate economy, prevent...
Togo has successfully completed its second issue of Covid-19 bonds, getting WAEMU investors to raise CFA160 billion for the securities. The operation, through which the country was seeking CFA70 billion, was oversubscribed at a rate of about 230%.
Of the 160 billion mobilized, the Togolese treasury will retain 108 billion to tackle Covid-19. Nominal value for the securities issued -...
Last week, Togo recorded 82 new Covid-19 cases, after 92 the week before. This spike shakes the relatively stable epidemiological situation the country had been experiencing for many weeks (one of the least affected by the pandemic in West Africa).
The resurgence is attributable to new outbreaks in “Assoli, Soudou, Tachoudjo (where cases increased exponentially and should continue...
Last Monday, Togo closed a simultaneous issuance of T-bonds on the UMOA-Titres market. The country was able to raise a total of CFA36.5 billion for the operation but withheld CFA27.5 billion. The funds will be used to finance Togo’s 2020 budget.
In detail, the operation was broken down into two, and while both had a target of CFA 25 billion, they had different maturity periods - 36...
Lomé-based airline Asky and US travel technology giant Sabre Corporation signed a multi-year agreement under which the latter is to help the former boost its sales and support its expansion in Africa.
In effect, the pan-African carrier should take advantage of Sabre’s passenger service and the new platform it launched recently.
As part of the new agreement, “Asky will...
Yesterday, the West African Economic and Monetary Union (WAEMU) Commission donated supplies and funds to the Togolese State, as part of support to its member States facing the Covid-19.
The supplies, worth nearly CFA 871 million, include masks for health care personnel, and multi-use masks for populations, while the funds came in the form of a symbolic check of CFA 500 million. The country will...
A new incubator for industrial businesses will be established in Central Togo. This was announced by Germain Essouhouna Mèba, the president of the country’s chamber of trade and industry (CCIT), during a sensitization campaign targeting SMEs and SMIs active in the region.
The campaign’s goal was to encourage economic operators to submit their business plan; a process at the end of...
The African Development Bank (AfDB) will support Togo with CFA782 million to implement the Youth Agricultural Investment Support Project (PAIAJ).
The two-year initiative "ultimately aims at building the capacities of disadvantaged youths to facilitate their inclusion in the economic and social fabric of our country," the Togolese economy and finance minister, Sani Yaya, said.
Concretely, the...
Sectors that are most clobbered by Covid-19 will benefit from tax breaks. Adopted on July 30, these tax breaks are part of amendments to the 2020 finance law.
In effect, transport, hotels, restaurants, and all other accredited entities that operate in the tourism industry will benefit from a 25% reduction on the advance payment for a patent. Another measure concerns one-man businesses that pay...