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Next Thursday, May 14, Togo will issue its Covid-19 social bonds. The country announced this on the UEMOA stock market, indicating that it will seek a total of XOF108 billion. The bonds, which will be issued at multiple rates, have a nominal value of XOF1 million per unit. They will mature over three months.
Approved by the Central Bank of West African States (BCEAO), the...
Located in Natchibore, the facility cost about XOF65 billion, 77% of which was provided by the State.
Overall, more than 300,000 people, mainly small producers, will be able to expand their exploitation area as a result of the project.
It should be noted that nine similar infrastructures should be built, for agricultural transformation centers (CTA) which are a component of the...
Togo reached the position after passing 10,000 tests last week. This corresponds to an average of 1,253 tests per million population, according to latest figures.
Countries with the highest testing record are Mauritius (who tested nearly 70,000 people which corresponds to about 54,000 tests per million people since the overall population stands at 1.3 million people), Djibouti...
On May 10, the curfew set in the Grand Lomé region was revised from 9 PM to 5 AM, while working hours were changed to 8 AM-4 PM (effective on May 11).
The amendments, the government explained, were spurred by the “stabilization of the pandemic’s spread.”
The curfew, let’s recall, came into effect on April 2, 2020, on the day following the announcement of a 3-month health...
In Togo, Orabank has just added contactless payment to its offers.
Indeed, the bank’s customers can now proceed to payment, capped at XOF15,000 (about €23), with their bank card at any of the lender’s credit card terminals (EFTPOS). It is possible to deactivate the option if requested.
While Orabank-Togo did not say the move was motivated by a desire to slow the spread of...
The Central Bank of West African States (BCEAO) has prolonged by 30 days, starting 3 May 2020, its strategic measures to boost e-payment as the Covid-19 pandemic persists.
The measures include the cancellation of fees for minor transactions, exemption of fees on water and power bills, incentives for digital commercial transactions, a 50% reduction of fees on withdrawals and transfers at...
Togolese fashion designer Marius Latif Kérim-Dikeni who owns the Mario Exclusive men clothing brand will make customizable face masks to help fight the Coronavirus pandemic in Togo.
The customizable masks will be washable and reusable, stressed the designer whose products are sold in Togo, Côte d’Ivoire (Abidjan), and Burkina Faso (Ouagadougou).
It is worth mentioning that last...
A recent survey conducted by the Togolese Chamber of Commerce and Industry (CCIT) reveals that more than ⅔ of private businesses operating in the country have kept all their employees working, despite being hit by the Covid-19 pandemic.
However, the study entitled “Effects of the Covid-19 on economic activities” also indicated that more than 92% of the 1,084 surveyed businesses had...
The French Development Agency, AFD, will provide Togo XOF141 million (€215,000) to fight the Coronavirus pandemic.
The funds will in effect be injected into a project that aligns with France’s Covid-19 Santé en Commun scheme which was launched at the beginning of April and is backed by another project aimed at boosting the quality of medical biology services in West Africa...
On May 5, 2020, the ministry of economy and finance met with actors of the Togolese banking industry (the professional association of banks and financial institutions - APBEF), and the Central Bank of West African States (BCEAO).
The talks were centered on the impacts of the coronavirus on the Togolese economy, and especially on banking services, SMEs and agriculture.
Also, Sani...
Yesterday, Sani Yaya, the minister of finance met with microfinance institutions to assess the impacts of the Covid-19 outbreak on their activities and review the implementation of measures taken by the Central Bank.
On this occasion, Yaya reiterated the government’s commitment to supporting microfinance institutions.
“This crisis, and the situation of microfinance institutions,...
German cement group HeidelbergCement will contribute XOF20 million to the national solidarity fund recently launched by the Togolese government to fight the Covid-19 outbreak.
Eric Goulignac, managing director of the group which operates in Togo via Cimtogo, Scantogo, and Granutogo, said “it is natural that HeidelbergCement contributes to joint efforts to overcome the pandemic. It is a...
As the number of Covid-19 cases keeps rising in the country, Togo is about to proceed to large scale testing of its population.
According to The Guardian newspaper, the government should randomly test 5,000 people across the territory.
This should allow sanitary authorities to decide where and when the movement of people should be limited, better target actions -such as quarantine,...
Last year, the Togolese Office of Revenues (OTR) paid back more than XOF2 billion of VAT loans to business operators.
The amount makes 65% of a total of XOF3.2 billion the authorities should have reimbursed.
The OTR explained the non-payment of the remaining sum saying corresponding requests did not conform to their objectives. For example, some companies asked for money to purchase...
Last Tuesday, the national health insurance institute (INAM) and the Fund Supporting Youth-led Economic Initiatives (FAIEJ) inked a partnership agreement to train tailors and seamstresses so they make quality face masks amid the Covid-19 pandemic.
The masks in question will be reusable, washable, and sold at a subsidized price.
The move aims at preventing the spread of the virus in...
Tomorrow, May 7, all health ministers of the WAEMU will hold a videoconference to discuss practical steps to take towards implementing recommendations of the Union’s leaders relative to the Coronavirus.
Moreover, the officials will talk of ways to improve coordination to handle the pandemic at the community level. For example, they will look at sanitary measures that should be taken at...