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Togo has joined the African Trade Insurance Agency (ATI). It is a pan-African financial institution that provides credit and political risk insurance products to support African investments.
The adhesion of Togo was backed by the European Investment Bank (EIB) through a $12.5 million concessional loan. This was disclosed by the government of the West African country.
The move...
In Togo, it is now possible to request land transfers online through the e-foncier platform specifically designed for this purpose.
Citizens, notaries and economic operators can pay fees for land transfers, ask questions, and submit copies of descriptive statements on the platform.
The initiative falls under the will of the Togolese Revenue Office (OTR) to “dematerialize land deed...
Ecobank and AUDA-NEPAD will establish together a continental framework to support micro and small-medium African enterprises (MSMEs) in overcoming social and economic challenges posed by the Coronavirus pandemic.
In effect, the two organizations will create a one-stop platform that will address businesses’ needs and issues during and after the pandemic. The platform should be “an...
To curb the negative impacts of the Covid-19 pandemic, all eight WAEMU States will issue treasury bonds baptized Covid-19 bonds, with the support of the Central Bank of West African States (BCEAO).
According to a statement dated April 21, 2020, the bonds will have a maturity period of three months and will be issued on the regional financial market. Funds raised will take care of immediate...
A few days after part of the medical staff of the Sylvanus Olympio hospital were quarantined, about 12 medical workers from the Bè hospital (in Lomé) have just been isolated.
The quarantine was decided after the detection of Covid-19 infected patients at the two medical facilities.
Let it be recalled that all medical staff were required to wear face masks since the first...
Togo just adopted a battery of fiscal measures to support businesses as they grapple with the Coronavirus pandemic.
Among others, the tax rate for the hospitality and catering sectors that are severely impacted by the outbreak has been reduced to 10%. Also, authorities have suspended ongoing tax audits and have limited the inspection to corporate citizenship.
Moreover, penalties for...
Gozem plans to expand to a new town in Togo, two years after starting operations in Lomé. In this framework, the startup is conducting surveys on social networks to find out the opinion of its clients.
The firm, already present in Benin and Gabon, also eyes the following markets in the next two years: Nigeria, Ghana, Senegal, Côte d’Ivoire, Burkina Faso, Cameroon, DRC and...
To help Togo fight the Covid-19 pandemic, the European Union (EU) intends to provide the country up to XOF13 billion.
The financing, according to the EU delegation, will be disbursed in tranches. The first tranche, XOF6.3 billion, which was initially expected in November 2020 should come by the end of this month.
The funds will be injected into the recently launched fund for...
In the wake of the government’s Covid-19 response, it has been decided that markets in the Golfe and Agoè-Nyyivé prefectures shall now open at 8 AM and close at 4 PM.
The decision announced on April 20, 2020, by the ministry for territorial administration, aims to make sure that populations adapt to the curfew imposed (8 PM) and conform to the national health emergency.
Markets...
Fake news being spread online states that some “banknotes of XOF10,000 and XOF5,000 with false serial numbers” are circulating in the West African monetary union. The news which supposedly originates from the Central Bank of West Africa (BCEAO) which prints the notes urges people in the region to no more accept the notes (bearing the A, N, S, and T serial numbers).
The information was...
Togo’s minister of economy and finance, Sani Yaya, is the new head of the council of governors of the ECOWAS investment and development bank (BIDC).
He was appointed during the 18th ordinary session of the bank which was recently held in Lomé. The Togolese official replaces Jacob Jusu Saffa, Sierra Leone’s minister of finance.
According to the director of BIDC, George Agyekum...
Starting today, it is compulsory for all medical personnel in Togo to wear face masks, according to a recently released official statement.
The measure was taken a few days after some health workers at the Sylvanus Olympio teaching hospital came in contact with two Covid-19-infected individuals (the patients were diagnosed late and unfortunately died). After the incident, many members of the...
Only two weeks into commencement and more than XOF2.5 billion cash has been distributed to Togolese citizens most affected by Lomé’s Covid-19 response.
A total of 462,000 people received the money to cope with the situation. In detail, 300,998 women received more than XOF1.8 billion while men obtained about XOF845 million.
Let it be recalled that women, under the scheme, get...
Despite the current health crisis, Togo raised last Friday XOF22 billion on the regional financial market.
In effect, Lomé which was seeking XOF20 billion through the issuance (of short-term fungible treasury bonds) mobilized a total of XOF29 billion (thus representing a subscription rate of 147%).
This is a new breath of air for the country which currently battles against the Covid-19...
Already scaled down a few weeks ago to 3% (from 5.5%), the growth forecast for the Togolese economy this year has been further reduced to 1%. This is as sub-Saharan Africa braces for its first recession in 25 years.
This is bad news for the national development plan which was set to take off a little after the presidential elections. However, the tides could turn next year in the event the...
Beyond Productions will be in charge of all communications relative to the Economic Governance Support Project in Togo (PAGE).
This was announced by the related award notice released by the ministry of economy and finance.
Under the contract, the communication agency will boost the visibility of the PAGE, both at the national and international levels, the project’s objectives,...