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Last Monday, Lomé hosted a two-day meeting where various ministers and experts discussed issues related to accessing decent and affordable housing for populations living in the West African Economic and Monetary Union (WAEMU).
The meeting was organized by the Caisse Régionale de Refinancement Hypothécaire (CRRH-UEMOA), with the World Bank's support.
It was placed under the...
Lomé-based Ecobank Transnational Incorporated (ETI) was the first bank listed on the Lagos stock exchange by turnover in the first half of 2019.
According to Ecofin Agency which relayed the information, ETI declared a gross income of N405.2 billion (XOF673.67 billion) for the period. The group thus outstripped Zenith Bank (N331.5 billion) and Access Bank (N35.5 billion).
ETI's...
Authorizing officers and accountants of public entities are currently attending a workshop in Kpalimé to better collaborate toward the effective implementation of reforms aimed at improving public finance management. The workshop was launched yesterday by Kossi Toio, cabinet director of the minister of finance.
In detail, it (the workshop) is dedicated to the public accounting and...
Nina, a firm which makes wigs, weaves and hair extensions will re-open next month after nearly 17 years. The information was disclosed by a credible source.
While this is not the first time the company is supposedly re-opening, this time, it has, according to the source, started hiring 200 employees.
The reopening aligns with the second axis of the 2018-2022 national development...
Seven West African countries (Senegal, Gambia, Guinea Conakry, Sierra Leone, Liberia, Ghana, Benin, and Togo) will benefit from a XOF6 billion project to reinforce mangrove ecosystems. According to Agence de Presse Sénégalaise which disclosed the information, the regional project was launched at the end of last week by the EU representation in Senegal.
This is a 4-year project that will...
Togolese authorities hope to collect up to XOF773.5 billion of tax revenues by 2022.
In detail, the country aims to "reach XOF678.4 billion, 723.3 billion and 773.5 billion in 2020, 2021, and 2022 respectively." The average growth over the period should thus be 6.8%. To achieve these numbers, the government plans to implement various tax reform programs.
The increase in tax...
Togo is one of the top countries to have improved its business climate the most in the past 12 months. Indeed, the country is featured with four other African countries on a shortlist, released by the World Bank, ranking the 20 economies that have improved their business climate most in the past 12 months.
The list was released yesterday, ahead of the Doing Business 2020 which will be...
Togo sold $11.3 million of cotton to the European Union last year, according to the UN Comtrade database. This is a notable increase (+50%) compared to 2017 where the West African nation exported about $7.5 million of the crop to the EU.
Inversely, Togo imported less cotton-based products from the EU over the period ($29.7 million in 2018 against $29.8M in 2017). This helped...
By 2022, the Togolese government wishes to have asphalted 60% of its roads.
The goal was disclosed by Sani Yaya, minister of finance, as the government was signing with the West African Development Bank (BOAD) a financing agreement of XOF20 billion to construct and asphalt the Katchamba-Sabori road.
If the goal is achieved, road traffick should be more fluid as various axes will be...
The US recently signed with Togo a grant agreement for $35 million under the Millenium Challenge Account (MCA-Togo) program.
Togo which has validated its Threshold program should use the monies to finance reforms in ICT and agriculture, with a focus on land.
Instead of the MCA-Togo cell which had been executing the Threshold program until its validation, a special entity...
Togo's Minister of Foreign Affairs launched Yesterday with the Africa, Carribean-Pacific countries (ACP) the first African Diaspora Economic Forum.
The event will take place on November 28-29, 2019, in Lomé, under the theme: Contribution and role of African Diaspora to the continent's economic development
On this occasion, members of the African diaspora will be encouraged to get...
The government just took a step further in the privatization of its last two banks, UTB and BTCI.
The authorities have announced a tender to pre-select investors interested in the privatization of both lenders, according to an official document obtained by Togo First.
In effect, the Togolese government seeks "strategic investors with strong banking and financial capabilities to...
On Sept. 26, experts, delegates and deputies from Nigeria, Ghana, Benin, and Togo regrouped in Lomé for a workshop organised by Togo's minister of mining and energy, Marc Ably-Bidamon, who also is the president of the ministers' committee in charge of the West African Gas Pipeline project.
These various actors discussed the law regulating the operation of the West African Gas Pipeline...
"Without a strong involvement of control organs, the national development plan cannot be truly achieved." This was declared by Kossi Tofio, cabinet director of the ministry of finance at the 3rd Internal Audit National Forum launched yesterday.
The official who was representing the minister of finance at the event was emphasizing on the importance of internal auditors in building an...
In 2018, Togo's hospitality sector generated XOF48 billion and 8,000 direct jobs. This was disclosed by the minister of tourism, Kossivi Egbetonyo.
In that year 712,000 more tourists arrived in the country, "making Togo, a touristic destination in full rebirth in West Africa," said the minister on the 40th World Tourism Day. Compared to 2017, there were 145,236 more tourists last...
Currently in New York for the UN 74th assembly general, President Gnassingbé met on September 25 with the World Bank's Vice President for Africa, Hafez Ghanem.
The two men mostly discussed about the World Bank's support to development initiatives in Togo and new cooperation opportunities, in the digital sector especially.
"I had the opportunity to talk with the Head of State about...