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In the last quarter of 2019, Togo performed no operation on the UMOA-Titres financial market.
Now, the country seeks XOF25 billion which it intends to raise on this market, by issuing fungible treasury bonds.
The operation which should close on January 17, is predicted to mature over a year, with multiple interest rates. Its corresponding nominal value is XOF1...
Last month, the ministry for social action, the promotion of women and literacy, updated the national social action strategy (PNAS). This was at a validation workshop organized with the support of partners such as UNICEF.
The update aims at tackling the poverty level, which has risen in Togo over the last decade, as well as foster decentralization. It aligns with the national development...
Togo will soon get a manual on investments made by the State, public institutions and communities.
The document will explain “how authorities evaluate, monitor the use of financial, technical, and human resources, as well as results produced, and their efficiency in relation to set goals and deadlines.”
The advisor in charge of producing the manual will define processes, roles, and...
In Lomé, the CNLPAL and the European Union are currently holding a four-day workshop to produce a roadmap - that will subsequently yield a bill - to better control and monitor light weapons in Togo. The workshop started yesterday, January 6, 2019.
Mainly, participants of the meeting will expand on good practices in use at the global level, relative to weapon control. This, in addition to...
Just like in 2018, Togo recorded major achievements in its digital industry over the past year. The following are the key highlights of the country’s realizations in this sector.
January
Cina Lawson, who previously held the title of minister of posts and digital economy, becomes the minister of posts, digital economy, and technological innovations. The added attribute allows the official to...
Lomé-based insurance broker Afrik Assurances plans to expand to Côte d’Ivoire and Benin, early this year. According to Jeune Afrique which reported the information, the audit-counseling firm should establish its new offices in Abidjan and Cotonou.
The move is part of the expansion strategy of the pan-African business in West Africa.
Afrik Assurances was founded by the...
Earlier this week, actors fighting money laundering and terrorism financing in Togo held a workshop. The latter was to review, amend and validate a general report on the nationwide assessment of risks (ENR) related to these practices.
The actors also gathered to perfect the action plan established to effectively carry out the ENR’s instructions. In this framework, a bill is being studied - and...
On January 26, 2020, Lomé will repay the balance and interests related to the five-year bond it contracted in 2018. The total sum, XOF43.315 billion, will be paid in line with a management strategy of the country’s domestic public debt.
The news was reported by the regional stock market - BRVM - citing the managing director of Togo’s public accountability and treasury...
Last Friday, Lomé hosted its first annual treasury services conference.
The theme of the event was “Mobilizing internal resources for sustainable development.” Participants present noted the State’s growing needs emphasizing that no country can grow without internal resources - which regroup tax and non-tax resources. The latter makes up nearly 90% of the State budget and thus are...
Togo recently closed its first international loan, with Lazard Frères as its advisor for the operation.
The private loan, fully insured by the Africa Trade Insurance Agency (ATI), is to be paid over 10 years with the annual interest rate set at 5% (similar to an international loan that Benin secured recently, with a World Bank’s guarantee, however).
Let’s indicate that the World Bank...
BB Lomé, all Producers Organisations and Service Businesses’ Associations (ESOPs), and the Incentive Mechanism for Agricultural Financing (MIFA SA) signed yesterday a partnership agreement. The document was signed at the headquarters of BB Lomé, Togo’s largest brewery.
Under the convention, the three parties are to promote financial services adapted to agriculture, to the rice...
In Togo, nine carriers of innovative projects in the waste recovery sector, the use of local materials in housing and transport construction as well as in the issuance of civil status certificates will have the opportunity to obtain a total of US$240,000 (XOF120 million), put into play by the UNDP country office.In detail, those who stand out from the crowd for their innovative solutions in...
Togo has been piling up successes for the past two years. Among these is Lomé’s port becoming West Africa’s leading port, beating Lagos’; or the country’s amazing leap, up 59 places, in the Doing Business rankings. Investors from Europe, Asia, the US, have put their trust in this economy’s future. Its parliament has adopted, at unanimity, a new constitution. These are achievements...
This week, Germany granted Togo a subsidy of €33.7 million (about XOF22 billion).
In detail, around €10.7 million will be used to rehabilitate, enlarge and equip training institutions (in line with a professional training and youth employment project); €8 million will go into the rehabilitation, expansion and equipping of health facilities in Kara. The remaining...
Togo expects to collect XOF678.4 billion of taxes in 2020, up 1.3% compared to the forecasts for this year (XOF669.5 billion). As for non-tax earnings, the country hopes to mobilize XOF75 billion next year (against XOF69.4 billion in 2019).
This was disclosed by the ministry of finance after the parliament passed the 2020 finance act. Forecasted revenues and expenditures under the latter...
Nearly half of 2020’s budget (46.8%) will be poured in social sectors, knowingly health, education, agriculture, and rural electrification.
This was disclosed by the ministry of finance after the parliament adopted the initial 2020 finance act.
Health, according to the government’s plans, will get about one-tenth of budgetary resources, while education will get around one...