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Togo’s economic growth in 2018 was 4.9%, thus exceeding forecast by 0.1%.
This was disclosed in the BCEAO’s latest report on monetary policy across the West African Monetary Union (WAMU).
According to the institution, the rise was spurred by a greater agricultural output in the 2018/19 campaign.
Moreover, an improved growth in Togo, and Niger, during the first quarter of 2019 has partially...
Last Friday, Togo closed its operations on the regional financial market for the first half of the year.
The country’s last operation for the period is a three-year maturity bond issuance. It successfully raised XOF22 billion (while it sought XOF20 billion initially) in the process; proceeds will be used to finance expenditures set under the 2019 State budget.
In detail, total submissions...
Via a decree issued during the ministerial council of June 25, 2019, Togo transposed the WAEMU community provision on the execution of public works into its law.
Via this decree, Togo equips itself with a legal scheme that will help coordinate and implement large or complex public projects for which contracting authorities have no internal skills.
This should greatly improve...
Togolese minister of trade and private sector promotion, Kodjo Adedze (photo), announced the government has secured investors’ commitment to the project to duplicate the Unity Highway (l’Autoroute de l’Unité). This was during a press brief on the Togo-EU forum the country held last June 13 and 14.
The extension of the highway was decided to ease traffic flow on the Lomé...
The International Monetary Fund (IMF) has allowed a slight increase of Togo’s budget deficit. A true relief for the country struggling to increase internal revenues while social expenditures keep growing.
“A temporary increase in the fiscal deficit is warranted to accommodate some urgent spending. Notwithstanding this relaxation of fiscal targets, Togo is projected to remain within the WAEMU...
Togo’s government implemented yesterday at a ministers’ council a WAEMU guideline relative to ethics and deontology in public services and public procurements.
The decision is explained by failures to fight malpractices and inappropriate behaviors relating to the procurements. The government hence wishes to better the latter and improve on public service delegations.
In the long term, the...
In line with its quality policy (ECOQUAL), ECOWAS wants to primarily certify the following five products: cashew nuts, vegetal oil, cement, water and fish.
This is to ease access to safe products and services, which meet set standards, in West Africa. According to Commodafrica, it would also allow buyers, sellers and other concerned parties to easily reach agreements regarding standard...
Last Monday, the five solar academies announced under the CIZO project effectively began operations.
A first batch of 450 students (90 dispatched across the five centres) started classes at the academies, according to a statement by Kya Energy Group, local startup picked to steer the project.
Overall, the firm should train 3,000 technicians (600 per academy) over six months to solar kit...
Togo Volailles is the name of the project developed by Heugan & Associés Négoces (Hans) SAS, Synergie Eurobec International (from Canada) and New Tech Distribution (France). This project was revealed last week.
In effect the project aims at boosting poultry production in Togo (then to other West African countries), make local poultry products cheaper and eventually reduce poultry import by...
By 2022, Togo plans to undertake a deep reform of its road transport sector as it aims to make it more performant and professional.
In this framework, a meeting was held yesterday between actors, professionals of the sector, and international partners, such as the World Bank, that are backing the project.
Participants looked at key points of a four-month review of the sector led by the...
A follow-up group for the past Africa-China Cooperation Forum (FOCAC) has been sent to China by the Togolese government, to track potential partnerships and investments for which foundations were laid at the time.
The delegation includes Samuel E. Mivedor, CEO of Togo Invest SA, Patrick Daté Tévi-Benissan, General Secretary at the Presidency, Etsri Homevor, General Secretary at the ministry of...
Nigerian mobility startup Max.ng recently raised $7 million to expand to 10 West African countries, boost its steam and develop in the coming years a transportation and delivery system using three-wheelers.
The money was secured from a group of African and non-African investors, includng capital-risk firm Novastar Ventures and Japanese company Yamaha Motor Co.Ltd. Adding the recent...
Gozem, the first taxi-bike and taxi-car reservation app in Lomé, has recorded since its launch in the city last November more than 100,000 rides. This was revealed in a statement from the startup founded by Nigerian Emeka Ajene.
“We have developed a safe and afforable transportation mode which Lomé’s people enjoy using. We are proud of this and are now aiming for another 100,000 rides, a...
For the third consecutive year, Lomé’s port (PAL) has been recognized by the African Ports Awards foundation as the best transshipping port in West and Central Africa.
The port received the award at the 40th annual council of the West and Central Africa Port Management Association (AGPAOC), held from June 17 to 20 in Lomé.
Besides this, the infrastructure was recognized as the port with the...
A total of 115,880 businesses are currently active in Togo. This figure was disclosed last week by the national statistics institute, INSEED, quoting the latest global business survey carried out across the country.
The survey found that 85.5% of the listed businesses operate in the informal sector.
In details, the Grand Lomé region hosts most businesses operating in the country (63.4%)....
Next Friday, Togo will proceed to a last issuance of fungible treasury bonds on the regional financial market. According to UMOA-securities which disclosed the information, the country will try to raise XOF20 billion through the operation.
The latter will mature over 36 months and its interest rate is 6.25% while nominal value per unit security is XOF10,000.
Subscribed securities will come into...