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The portfolio performance for the PASA and PPAAO, two projects financed by the World Bank in Togo, has improved during the first quarter of 2019. This was disclosed by the institution’s representative resident, Hawa Cissé Wagué, on June 20 at a mini-review of projects the World Bank finances in the country.
The representative attributes the improvement to “actions undertaken by all parties...
On June 14, 2019, Lionel Zinsou, Benin’s former prime minister and managing partner at SouthBridge Group took part in a panel entitled “Togo, le centre d’affaires, d’investissement et de la haute finance émergente d’Afrique de l’Ouest” (Togo : The emerging business, investment and high finance hub in West Africa). This was on the second day of the first Togo-EU economic forum...
More than 1,000 participants, and 141 bankable projects for which XOF852 billion were mobilized and six billion for the PND’s key projects. These are the highlights of the recent Togo-EU economic forum (FETUE) that took place in Lomé on June 13 and 14.
They were confirmed Wednesday at a press conference reviewing the event.
Besides investment promises, talks at the forum revolved around...
The European Union (EU) is sealing with AfDB a deal to back the CIZO rural electrification project in Togo. The information was disclosed June 19 by Bruno Hanses, Chargé d’Affaires of the EU delegation in Togo.
This would make the project the first effective beneficiary of the Togo-EU economic forum recently held in Lomé. It should be noted that nearly 10,000 households have been provided...
In Togo, the agricultural financing incentive mechanism (MIFA) is in talks with Edem Bessanh, founder of the Champiso drinks startup.
As the startup seeks XOF650 million to industrialize, “it is discussing with local partners such as MIFA which is ready to support the process. The MIFA is already working with us and talks are ongoing,” Bessanh tells Togo First.
If the talks are...
The ECOWAS development and investment bank (BIDC) plans to invest XOF1.5 billion in Diwa Industries, a Togolese firm specialized in industrial production of gas bottles, metal packaging and accessories.
The funds will be part of monies raised through a bond issuance. The latter launched last May 28 will close on June 26 and aims at securing XOF25 billion.
In detail, 2.5 million securities, with...
The ministry of justice announces a roadshow around the country to present a legal guidebook for land disputes.
This guidebook, elaborated to fight against land insecurity, contains 55 FAQs that clarify real estate laws.
For instance, this guide informs that land deeds obtained fraudulently or by irregular means could be invalidated. It also indicates that in case of conflict involving two land...
Today June 18, 2019, a delegation of the ministry of agriculture has started a roadshow in the Plateau region (about 174 km from Lomé). The goal of this roadshow led by agriculture minister Noël Koutera (photo) is to meet with local farmers, processors and the ministry’s representatives in the region.
During the roadshow, the delegation will visit farms, take part in consultation meetings to...
Togolese President Faure Essozimna Gnassingbé chaired today June 18 the official inauguration of the Alternative Education Institute for Development (IFAD) of the town of Elavagnon, located 235 km from Lomé, in the prefecture of East-Mono.
This vocational center, dedicated to aquaculture promotion, aims to train students under the country's new agricultural policy and Axis 2 of the National...
In its Global Peace Index 2019 (GPI), the Institute for Economics and Peace IEP observed that socio-political unrests in Togo over the 2017-18 period cost the country about XOF378 billion, or $646.9 million. This makes 5% of the national GDP.
Togo dropped 9 places in the ranking, compared to 2018, now being the 108th most peaceful country in the world. It gets same score level as Côte...
More than $1.4 billion (€1.3 billion) worth of commitments have been secured from European investors at the closure of Togo-EU economic forum.
This is about one-fifth of five billion US dollars of private funds needed for Togo’s national development plan.
Lauding the achievement, Prime Minister Komi Klassou declared: “Togo’s emergence process is underway.”
For his part, Germain...
At the recently-ended Togo-EU economic forum, Germain Mèba, president of Togo’s chamber of commerce and industry, revealed that 141 bankable projects were retained by the committee specifically established for this purpose.
The projects are in various sectors, ranging from agriculture to tourism, including oil and manufacturing, and many more. They all align with one of the three axes of the...
In Togo, the agricultural financing incentive mechanism (MIFA) has signed two agreements with European investors to promote made-in-Togo abroad. This was during the recent Togo-EU economic forum ended last Friday.
In detail, the first agreement is a letter of intention signed with German firm Better Eco. It defines the global framework of a coming convention to “reinforce technical and...
The US embassy has launched online a new training on social entrepreneurship for young Togolese.
The workshop which will last two months will profit those with “solid ideas fostering social transformation via social entrepreneurship.” Only 12 participants will take part in this first edition and classes will be given thrice a week.
Through the training, the US embassy wants to...
In 2018, foreign direct investments (FDIs) to Togo stood at $102 million, according to the World Investment Report released by UNCTAD on June 12, 2019.
This represents a 15% increase compared to the $88.3 million recorded the year before. It is the second consecutive rise in the past two years. The UN institution attributes this performance to the Free-Trade area of Lomé.
“In some...
On June 13, 2019, Togo’s minister of finance, Sani Yaya signed the letter of adhesion of Togo to the development centre of the Organization for Economic Cooperation and Development (OECD). This was in the presence of the centre’s director, Mario Pezzini.
The signing comes some weeks after a Togolese delegation led by the minister of grassroot development, Victoire Tomégah-Dogbé, attended...