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The West African Development Bank (BOAD) has signed with Canada-based investment firm Cordiant capital an agreement under which the latter will manage two new funds created by the regional bank.
The first fund, an infrastructure fund, will get a capital of €400 million, and the second, a seed capital fund, will receive €40 million. The money will be spent to advance...
In its Where to Invest in Africa 2020 report, Rand Merchant Bank ranked Togo as the 35th (over 54) country where investing is easiest on the continent.
The country thus gained five places compared to 2019, driven by improvements in its business climate.
Togo, which according to the Doing Business 2020 is Africa’s top reformer, and third in the world, is a better place to invest...
Three new firms have joined BBOXX and SOLEVA on the CIZO rural energy project in Togo. These are Moon, Solergie and Fenix International.
The first of the newcomers, Moon, is a French firm yielded by the crowdlending platform Solylend. Under CIZO, it will provide its Moon Kit which is a solar system that provides lighting and charges USB devices. It comes with a Moonphone, which is a...
Last year, the number of people with a phone in Togo was about 7 million, thus 89% of the country’s population. This is two million more than in September 2015 (70% of the population).
The growth was driven mainly by an increase in the penetration rate of mobile phones to 83% - a segment dominated by two operators, TogoCom and Moov-Togo.
Internet Service Providers (ISP) also...
In line with the government’s efforts to boost agribusiness, the University of Kara will launch two new degrees: A bachelor’s in control, quality and sanitary security of food, and a Master’s in dietetics and food security.
The two courses will produce experts able to advise people on the food they consume, hence helping them improve their health.
Commenting on the initiative, the...
Pan-African lender Ecobank has signed a partnership agreement with Alibaba’s payment platform, Alipay.
The partnership will ease instant transfers between the users of the two groups’ payment platforms, Rapidtransfer and Alipay. In addition, the move should diversify Ecobank’s offers, reduce transaction costs, and boost the quality of the group’s...
During a meeting held in the past weekend in Elavagnon (230km from Lomé), President Faure Gnassingbé announced a battery of reforms relative to civil status.
“I would like to tell parents that henceforth, they can get birth certificates for their children freely. To tackle the issue of identification, we will, starting this year, initiate a program that will make sure every Togolese...
The University of Lomé and the University of Kara have been equipped with an Expresso Book Machine (EBM) - It is a print on demand machine that can print, collate, cover and bind an 800-page book in no more than 12 minutes. The machine was commissioned last Tuesday by the ministers of technological innovation and higher education.
“This equipment was commissioned as part of the government’s...
In Togo, judicial investigations are now compulsory for commercial cases brought to court from now. The procedure, which used to only concern criminal cases, was extended to commercial disputes as well, after a law was adopted in this framework last January 7.
The preliminary investigation will, according to a magistrate assigned to the commercial court, allow judges and other parties...
The Ecowas commission, in partnership with the International Organization for Migration (IOM), has started since yesterday an awareness campaign relative to the Ecowas biometric card and the free movement of people and goods at the Togo-Ghana border.
This is because the free movement of people and goods is still not effective at this border, despite having been approved years ago. Worse...
In 2019, the government of Togo spent XOF174 billion in the education sector alone. This is a tremendous increase compared to the sum allocated to this sector in 2005, knowingly XOF25 billion.
Most of the monies injected in the sector in the past 15 years were dedicated to recruiting (+48% more teachers over the period). Total wages paid to the teaching staff also improved considerably,...
In a recent tweet, the Nigerian presidency declared that “Nigeria’s position on the Eco currency is that the convergence criteria have not been met by majority of the countries.” “There has to be an extension of time on the take-off of the single currency,” the presidency added.
Recently, let’s recall, English-speaking countries of the region opposed the decision to adopt the...
From XOF5 billion in 2013-2014, funds spent to boost youth employment by the Togolese government soared to nearly XOF15 billion in 2018.
Among the various programs to which these funds were allocated is the national volunteer scheme which is steered by the national agency for volunteers (ANVT). Under the latter, 30,000 volunteers were mobilized -30% of whom were women. There were also...
Kossi Adodo was just reelected for a five-year term as the head of the association of companies of the free-trade zone (ASOZOF).
In addition to renewing his position as president of this association, Adodo who also heads plastics firm NOSITO Sarl, will from now on also chair the board of the ASOZOF in place of the former executive management.
Let’s indicate that the...
Between 2011 and 2019, a total of nine (9) billion CFA francs was invested in the craftsmanship sector in Togo, to create jobs and wealth.
At the end of 2019, 11,300 projects and 10,500 young artisans were financed in this industry, under various mechanisms. Over the period reviewed, 25,000 artisans, out of 60,000 registered, received training aimed at professionalizing and developing...
Félix Auger-Aliassime (photo), the young Canadian tennis player of Togolese origin, will support children’s education in Togo, specifically in the Kara region. He will do so under the EduChange project, in partnership with BNP Paribas and NGO CARE.
At the end of the past week, the youth said he would donate 5$ for every point he wins in official matches. BNP Paribas will for its part...