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In Togo, the number of mobile money users rose from 83,000 in 2013 to 1.9 million in 2017 and 2.3 million in 2018 (nearly 30% of the Togolese population). This represents an annual growth of 95% over the period considered (2013-2018), with a peak of 21% over the last two years (2017-2018).
This was disclosed by the country’s Posts and Telecommunications Regulator (ART&P), in a report...
Last Tuesday, the 2020-2021 cocoa and coffee marketing campaign was launched in Kpalimé (120 km from Lomé) in the presence of the ministers of agriculture and trade.
The two sectors were hard hit by the Covid-19 crisis, coffee especially. Indeed, Togolese coffee exports fell by 42%, from 4,500 t in 2018-2019 to 2,600 t in 2019-2020.
“This health crisis hit the coffee economy...
After recently becoming partners, Togo Invest and UNDP Togo are working to submit a $50 million project to the Green Climate Fund.
In effect, UNDP Togo will include Togo Invest in the project since it was already elaborating on it. “We are working with Togo Invest and other institutions to develop this project,” the UN body said.
The project, it should be emphasized, aligns with...
With 9 other African presidents, Togo’s leader Faure Gnassingbé called for a greater financial mobilization for projects carried out by the International Fund for Agricultural Development (IFAD).
In a co-signed letter, the heads of state made the call to make rural communities more dynamic and subsequently protect them against poverty and famine.
“Now more than ever, it is crucial to...
In July 2020, the overall performance of commercial services in Togo grew by 8.8%, driven by sales and business operations.
Right behind the country are Ivory Coast (+2.9%) and Guinea (+0.5%), according to data by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO). The three countries, over the period concerned, were the only ones to have recorded a positive...
Yesterday, Togo’s minister of foreign affairs, Robert Dussey, went to Mali for an official visit. There, he met the country’s top officials, including the new transitional president, Bah N’daw.
During his visit, the Togolese emissary reiterated the congratulations of Togo (and of the Togolese president, Faure Gnassingbé) to the new Malian leader. He also assured Togo’s...
A successful entrepreneur and one of the key economic players in Togo, Ghislain Awaga intends this quarter to venture into the private equity business.
Via his company Global Trade Corporation (GTC), which specializes in stock speculation and is present in around 20 African countries, the entrepreneur wants to support or buy out firms struggling to grow or are going through a cession or...
The new soybean commercialization campaign was just launched and it will close in July 2021.
In the previous season, soy exports generated nearly FCFA50 billion, a figure the interprofessional soybean council aims to exceed. It plans to do so by better tracking revenues generated, and subsequently, transparency while purchasing for export.
In parallel, the body also wants to...
In Togo, the 2020-2021 academic year will resume in two stages. The first - the administrative and pedagogic resumption - will cover the week from October 26 to 30, and the second or effective resumption will begin on November 2.
The next academic year will start with many challenges, related to the Covid-19 notably, the same as the previous academic year.
Regular monitoring of...
On the world food day, the FAO inaugurated an exhibition hall in Lomé to display fresh agricultural products.
Located near the headquarters of the Central Bank of West African States (BCEAO), this hall will help boost the visibility of "made in Togo" products, especially fruits and vegetables (mangoes, cabbage, pepper, cucumber, etc.)
"The vitrine for food products benefits farmers,...
Last Friday, Togolese PM, Victoire Tomegah-Dogbé met with the IMF's resident representative, Sampawendé Jules Tapsoba. The two discussed the government's new roadmap and its key axes.
According to Tapsoba, the meeting was aimed at enabling the IMF to "learn about the new roadmap and its various priorities, and see how to efficiently support the Togolese government to achieve its goals."
Early...
Last Tuesday, the World Bank approved a $12 billion aid plan to enable developing countries to purchase and distribute potential COVID-19 vaccines.
In effect, the money should be used by the countries to “finance the purchase and distribution of Covid-19 vaccines, tests, and treatments for their citizens.”
According to David Malpass, who heads the institution, this is the...
Instructed by president Faure Gnassingbé, a performance contract was signed by 33 ministers of the Dogbe government, to achieve goals set under the new five year (2020-2025) strategic roadmap.
Under the terms of the contract, the ministers have to report their actions and progress regularly.
The signing marked the end of a seminar started by the government at the beginning of the...
After recording a good performance last quarter, Togo announced it will seek CFA25 billion on the regional financial market next October, 23rd.
The tender notice relative to the first operation of this quarter was published on October 13 by the UMOA Securities agency. The funds will be raised through a simultaneous issuance of fungible treasury bonds.
In detail, these are bonds with...
The partial restriction on imports of frozen chicken is a boon to local poultry sales. This was revealed by the former minister of agriculture, Noel Bataka, in a written message to a deputy.
From May 18, 2020, to July 12, 2020, local poultry sales soared from 3 tons to nearly 7 tons per week.
According to the former minister, the increase is due to an incentive pushing for partial...
In Togo, friends and relatives are the main financial backers of entrepreneurs, slightly behind banks often hesitant to finance them.
According to a survey of 350 very small and medium-sized enterprises published in the government’s 2020-2025 roadmap, up to 28% of business owners surveyed say their relatives and friends are their main sponsors, against 29% who said commercial banks are....