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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...
The board of the West African Development Bank (BOAD) held last Wednesday its 115th ordinary session, in Dakar. On this occasion, the bank approved partial financing of many projects submitted by the States and other economic actors of the West African Economic and Monetary Union (WAEMU).
Among these is the project for a 30 MWp solar plant in Blitta, Togo. The project thus secured XOF7...
Over the first three quarters of this year, Togo’s tax revenues rose by 22.4%, according to data from the Central Bank of West Africa (BCEAO).
In the WAEMU, this is the second-highest rise after Mali (+35.9%) and the same as Senegal (+22.4%). The central bank in this effect lauded “financial governance in the WAEMU, relative to tax collection, mentioning ongoing projects to modernize...
Moustafa Mijiyawa, Togo’s minister of health, is the new board chairman of the Africa Centre for Disease Control and Prevention (Africa CDC). The Togolese official was elected earlier this month for a three-year term, in Addis Ababa, at the sixth meeting of the organization’s board.
Mijiyawa, professor of Rheumatology, has been active for more than 30 years in the health sector,...
The UEMOA’s stock market, Bourse Régionale des Valeurs Mobilières (BRVM), will organize the first edition of the BRVM Awards next Feb. 8, in Abidjan.
“The event aims to foster the development and dynamism of this market,” says Corinne Ormom, BRVM’s chief of communication. Moreover, it should “boost the institution’s credibility, as well as embody excellence in the stock...
Today, Lomé is hosting a regional meeting on special economic zones. The event’s theme is: Developing the Special Economic Zones in Africa: General Framework and Main Orientations.
According to the organizers, Togo Invest Corporation and Africa Free Zone, “the special economic zones are a major tool for African economies, relative to the augmentation of foreign direct investments...
On December 20, the PNUD’s office in Togo will launch two innovation contests in Lomé.
They should both promote youth ingeniosity, in terms of “building innovative construction solutions pairing waste recycling and local material use.”
They will also be tasked with developing solutions that will improve deed delivery at local civil status centers.
The contests are sponsored...
The Togolese government and the AfDB initialed on Tuesday, December 17, 2019, an agreement worth about CFAF 7.9 billion as part of the Social Component Support Project of the CIZO Rural Electrification Programme of Togo (PRAVOST).
Related documents were signed by Marie-Laure Akin-Olugbade, Managing director of AfDB for West Africa, and Sani Yaya, the Minister of Economy and Finance. Marc...
From 1990 to 2018, Togo’s human development index (HDI) soared by 26.6%, from 0.405 to 0.513. This is disclosed in the recent Human development report released by the UN Development Program (PNUD).
Over the same period, Togolese people had their life expectancy rise by 4.9 years. In 2010-2017 alone, their life expectancy rose by three years. Meanwhile, GDP per capita improved by...
Last Friday, the government adopted a second supplementary budget act. This was during a ministers’ council held the same day.
The new budget act integrates the privatization of TogoCom (which results from the merger of Togocel and Togo Telecom) after the State sold its 51% stake in the group to Agou Holding.
While the transaction made the State a minority shareholder (49%) in...
As its neighbors already suffer from the closure of its borders with Benin and Niger, Nigeria threatens to stop supplying power to Togo, Benin, and Niger if they fail to pay outstanding debts of $16 million they owe the giant.
Initially, Togo and Benin owed Nigeria more than $100 million but paid most of it and “it remains only $14 million,” according to Usman Mohammed,...