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The West African Development Bank (BOAD) just announced the closing of its third Eurobond. The transaction through which the regional lender mobilized $830 million will mature over 12 years.
Opting for the Eurobond, whose terms the bank deemed favorable, was driven by its will to protect members of the Franc zone against exchange rate fluctuations since the CFA is pegged to the Euro.
The...
In Q2 2019, microfinance institutions operating in Togo have collected 14.2% more deposits year-on-year, data from West African States' Central Bank (BCEAO) indicates.
While lower than the figure recorded the previous quarter, this is the second-highest growth rate within the West African Economic and Monetary Union (WAEMU), behind Mali (+16.4%) which is the largest contributor on this...
On October 16, the WAEMU commission proceeded to the technical phase of its yearly annual review of its reforms, policies, programs, and projects. The session takes place in Bamako, Bissau, Cotonou, and Ouagadougou and should end next Friday and be replicated in Abidjan, Dakar, Lomé and Niamey from October 21 to 23.
This review allows the commission and WAEMU States to assess the implementation...
The Fourth African Week for Microfinance will take place on Oct 21-25, 2019 in Ouagadougou. Togo is expected to attend the event which will be a joint platform for brainstorming and exchange between the various microfinance actors: investors, the IMF, researchers, banks, networks, innovators, governments, and NGOs, etc.
The event which is themed Inclusive finance for the achievement of...
In Togo, 317 rural communities will be provided electricity using solar mini-grids.
This is a project financed by the BOAD and it entails the development, co-financing, construction, and maintenance of the mini-grids and distribution networks. It also includes the distribution and sale of power to customers and the transfer of the grids after the related license expires.
Overall, the project...
Togolese Pascal Ayayi Creppy (picture), was just appointed Export Director of the French group Hydrimpex. The latter specializes in making and designing clean water supply equipment for export and is also active in the oil and gas sector.
At his new position, he will contribute to the expansion of the multinational in sub-Saharan Africa where it already operates in at least 21 countries, as well...
Togo's public authorities have established an inclusive federation for cashew to oversee the sector. At the head of the new institution that regroups producers, buyers, and processors is Elisabeth Essodolom Pali-Tchalla (photo), CEO of the Société Togolaise du Karité (STK).
With a team of 11 people, Pali-Tchalla is tasked to, over a four-year period, remobilize all actors of the cashew...
Between August and September 2019, the Mechanism for the Promotion of Agricultural Financing (Mifa SA) based on risk-sharing, eased the provision of a little more than XOF3.8 billion of loans to actors of the agricultural value chain by financial institutions.
The funds which benefited both farmers and owners of agro-food processing units and agricultural service providers helped finance 200...
Teolis, the Togolese Internet Service Provider (ISP), has partnered with Outre-Mer Network to launch multiple projects.
At Station F, Europe's largest startup campus, the two firms signed the related agreement under which they will incubate young Togolese entrepreneurs.
In the framework of the new partnership, Outre-Mer Network just opened an office in Togo at the Teolis Foundation.
Outre Mer...
In Togo, the council of the Entente will fund the installation of individual solar kits in 14 villages in Kara, the Savanes and the central region. The project, thanks to which electricity will be provided to about 1,000 households, falls within the framework of the Off-grid energy sources’ promotion initiated by the council.
In the framework of that promotion, it has already provided...
Togo’s Agricultural Financing Incentive Mechanism (MIFA) is expecting to mobilize XOF7 billion by the end of the year to support 95,000 agricultural and financial players in the country. The project is expected to have an impact on 130,000 agricultural jobs, MIFA said.
To date, the institution has already mobilized more than half of its objective (about XOF 3.8 billion in the form of credit,...
In 2017, the five most paid taxes (out of 20) were VAT, customs duties, corporate tax, excise duties, and personal income tax, according to a recent World Bank study. These taxes represented 88.5% of all tax income collected by the country over the period.
In detail, VAT contributed 43.1% of the revenues, while customs duties, corporate tax, excise duties, and personal income tax respectively...
Togo's new mining strategy should soon be validated. Last Thursday, a validation session for the document was indeed held in Adetikope, in the Agoè Nyivé prefecture.
This initiative falls under the Mining Governance and Development Project (PDGM). It also aims at providing the mining industry with a "means to record more efficient performances and better implement its programs," says Marcel...
Six higher education institutions in Togo and Senegal will benefit from the expertise of four European Universities in strengthening their engineering training to reach the global engineering standards. The six African Universities were selected via the European Erasmus Program.
In Togo, beneficiaries include the University of Lomé (with the Crossroad for Innovation and Business), and the...
The European Union's Program of Consolidation of the State and the Associate World (Pro-CEMA), just backed about 30 civil society organizations with a financing of XOF665 million. The monies should help these organizations improve their actions on the field. The related agreement was signed last Wednesday in Lomé.
Overall, 32 projects will benefit from the funds. They will help associated...
Various representatives of the fishery sectors of ECOWAS member-States (directors of fishery and non-public actors), and Mauritania, gathered on October 9, 2019, to discuss the implementation of a joint policy for fishing and aquaculture in West Africa.
Organized by the ECOWAS Agriculture and Rural Development Directorate (DADR), the meeting falls under the Project to Improve Regional Governance...