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Togo: The National Social Security Fund launches old-age insurance for actors of the informal sector
On November 6, 2019, the National Social Security Fund (CNSS) launched a nationwide campaign to present its latest product, old-age insurance for all.
The insurance targets mainly those operating in the informal sector, but "anyone can benefit from it, sellers, farmers, artisans, artists, anyone who works," said the institution.
It comes in the form of a pension fund that...
The Agou Holding Consortium will take 51% of TogoCom, the public holding which owns Togocel and Togo Telecom.
The pan-African consortium, regrouping Axian Group and Emerging Capital Partner (ECP) should spend more than XOF100 billion for the stake.
In effect, Agou Holding plans to invest XOF160 billion (about €250 million) in connectivity infrastructures, the deployment of...
In 2018, Ecobank was the main active banking group in the West African Economic and Monetary Union (WAEMU). This was disclosed by the bank commission of the West African Monetary Union (WAMU), in a recent ranking.
Out of 29 banking groups ranked by the commission, the Lomé-based group thus came first with 13% of the union's market shares, just ahead of Société Générale which garnered 10.1%...
The Ministry of grassroots development has launched a new incubator for local startups, through the Youth Economic Initiatives Support Fund (FAIEJ). Named Nunya Lab, the incubator was officially launched last Tuesday, by the minister of grassroots development and youth, Victoire Tomegah-Dogbé. The infrastructure is estimated to have cost more than XOF25 million.
Its purpose is to "support the...
In Togo, the Industry Professions Training Center (CFMI) trains 70% of the youth hired by local firms. This was revealed by Laurent Tamegnon, chairman of the national council of employers -CNP.
This center aligns the government's ambition to create 500,000 jobs in the country by 2022, Tamegnon declared last Monday during a panel on challenges faced by the private sector, which are hampering the...
From December 2 to 7, 2019, Lomé will host the 55th council of member states of the International Tropical Timber Organization (ITTO).
The information was disclosed yesterday during a conference organized by the ministry of environment and sustainable development.
About 300 participants are expected at this event and on this occasion, various projects should be submitted for funding, according...
The government seeks 40 Togolese students from the Universities of Lomé, Kara, and UCAO to take part in the second edition of the presidential excellence programme for the national development plan (PPEP).
The scheme mainly is targeting training the youth to reinforce the country's administration.
Selected students will work on projects that align with the national development plan (PND), in...
In line with its Country Partnership Framework (CPF), the World Bank will soon provide Togo with new financing to support digital competitiveness and governance.
The project will in effect support the State's economic and structural reforms, especially relative to the digitalization of administrative procedures. The news was disclosed by the World Bank's resident representative, Hawa Cissé...
Oragroup published a net income of XOF9.1 billion for Q3 2019. This is up 247.7% compared with the same quarter last year. This is quite an improvement from the first half of the year where the group's net income stood at XOF2.8 billion (-60% in comparison with the same period in 2018).
The Lomé-based lender attributes its performance to an improvement in the net cost of risk, paired with...
To boost the private sector and business creation, the Togolese government has initiated many measures, including for example the reservation of 25% of public procurements to youth and women.
At the launch of the first Private sector Week yesterday, the Prime Minister recalled some of these legislative and/or regulatory measures. He thus mentioned the investment and tax codes, the establishment...
SCAN Togo (a subsidiary of Heidelberg Cement Group) signed yesterday in Lomé a public-private partnership agreement with the German Cooperation (GIZ).
Under the agreement, the two partners commit to provide professional training in craftsmanship and construction works (masonry, carpentry, and joinery) to artisans and youth of Tokpli and its surroundings, about a hundred kilometers northeast of...
"In 2019, the State recorded a revenue shortfall of XOF650 million in the energy sector after deciding to halve connection fees for the private sector," according to Sandra Johnson, minister-advisor to the President and head of the business climate cell.
This is one of the many sacrifices of the State to make it easier to start up a business in Togo.
The country also lost about XOF14 billion...
Nigeria has decided to keep its borders closed until the end of January 2020, Ecofin Agency reports citing a memo released at the end of the past week.
The document which was cited by Nigerian media The guardian indicates that "it is observed that despite the overwhelming success of the operation particularly the security and economic benefits to the nation, a few strategic objectives are yet to...
Last Friday, the Millenium Challenge Corporation (MCC) released its scorecard for 2020. On the latter, Togo has validated 14 out of the 20 indicators.
The assessment sums up in three categories, indicators validated by the 80 countries that adhere to the program. The categories are: Ruling justly, Economic freedom, and Investing in people.
Under the "Ruling justly" category, Togo validated four...
The French Development Agency (AFD) has granted Togo €15 million to support its education sector, in the framework of the Junior High School Reform Project -PAREC II.
The monies should help improve upon capacities and infrastructures in public junior high schools in the Maritime, Plateaux and Savanes regions. More than 160 schools should benefit from the scheme.
In effect, exactly 92...
Togolese Prime Minister, Komi Sélom Klassou, opened on November 4, 2019, in Lomé, the first edition of the Private Sector Week, in the presence of important figures of the private sector, international finance institutions and various development partners.
Themed, "Private Sector, driver of socio-economic development and growth of Togo," the event aims to foster the implementation of the...