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Togo’s minister of economy and finance, Sani Yaya, urged the African Solidarity Fund (ASF) and its partners to finance the 2018-2022 national development plan. This was at the opening ceremony of ASF’s 10th general assembly.
The plan, Yaya said, “needs XOF4,622 billion in funding, two-thirds of which will be secured from the private sector. I trust that the African Solidarity Fund whose...
In order to modernize Togolese agriculture in 2020-2025, E-agribusiness will deploy 125 farming drones across the country. In parallel, the firm intends to train 500 people to pilot the gadgets.
The project aligns with the second axis of the government’s national development plan, knowingly getting more young Togolese interested in agriculture. It also aims at boosting productivity, securing...
Yvon Koudam won the “Pitch your startup idea” contest, the pinnacle event of Togo’s first Student Digital Entrepreneurship Forum (FENES) launched last Friday.
With “Kondjigbalê,” a project promoting an online health booklet, the youth was awarded a prize of XOF500,000 (under the innovation and digital entrepreneurship category). “We came from far and are nowhere near our goal yet...
Togo is presently the leading West African exporter of organic products to the European Union (EU).
According to data from the European Commission relayed by Commodafrica, in 2018, Togo exported 22,123 tons of agricultural organic products to the EU. This is more than Ghana, the second largest exporter with 14,948 tons, Côte d’Ivoire (14,392 tons), and Burkina Faso (12,456 tons). Last in the...
Koosmik, a Luxembourd startup specialized in financial services raised on May 22, two million dollars to expand its activities in Togo where it has been operating since 2017.
This is the second time the firm proceeds to a fundraising aimed at boosting its operations in the West African nation. Through the previous operations, it successfully mobilized more than a million dollars.
Just like the...
From May 2018 to May 2019, 110,000 ECO CCP savings mobile accounts have been created. The figure was released by Société des Postes du Togo (SPT), which launched the financial inclusion tool in May 2018.
Over the period, the accounts recorded 52,318 transactions amounting to more than XOF3 billion.
Let’s recall that ECO CCP account is linked to users’ TMoney or Flooz mobile money...
A minimum quota of local products will be integrated to meals offered in hotels and restaurants operating in Togo. The measure aims to promote local production, processing and consumption, which are impaired by a high importation level.
“Through this initiative, the Head of State wants to improve consumption of local products,” reports local newspaper Kamgou citing minister of agriculture...
The ECOWAS Bank for Investment and Development (EBID) has just launched a bond issuance operation. The aim of this operation, approved by the regional council for public savings and capital markets, is to raise XOF25 billion in order to fund seven (7) projects in the energy, industry, hospitality and financial sector. These projects will be implemented in Benin, Côte d’Ivoire, Burkina Faso,...
The State has transfered to Togo Invest Corporation S.A its stakes in Complexe Pétrolier de Lomé S.A, Société Togolaise de Stockage de Lomé S.A and Togo Oil Company S.A. Related decree was adopted in a council of ministers held on May 29.
In detail, the State has ceded respectively 100%, 40% and 79.734% of the firms to Togo Invest. The move should “grant the latter more financial weight...
In Togo, 30% of businesses created between 2010 and 2015 are no more operational. This was disclosed by the Business Formalities Centre (CFE) in a study on business survival in Togo, covering that specific period.
According to the study, out of over a total of 40,831 businesses created at the CFE from 2010 to 2015, 28,582 or 70% are still operational, against 12,249 or 30% which have ceased...
This year, ten young Togolese, six women and four men, were selected to benefit from the Mandela Washington Fellowship – YALI launched by former US President Barack Obama in 2014.
The youth will be trained over a six-week period at some of the biggest US universities. The courses, which combine theory and practice, are in the following category: business and entrepreneurship, civic engagement...
The Togolese government adopted a bill for a new investment code. This was during a council of ministers held yesterday, May 29.
The move aims, the ministers say, to “make the country’s legal investment framework more appealing to investors and steer their actions so as to achieve a strong and robust economic growth, enhancing job and wealth creation at economic and social levels.”
The...
A second edition of the “Nos Produits 228” catalogue, dedicated to “Made in Togo” products, was recently issued by the organization for food and local development (OADEL).
The 146 pages catalogue aims at getting Togolese consumers more interested in local products. It features food by category such as breakfasts, flours, alcoholic and non-alcoholic drinks, etc. The first edition of the...
SMEs and SMIs willing to benefit from the WAEMU SME/SMI support program must meet specific criteria.
They must be autonomous, produce goods or market services, be registered at the Trade and Personal Property Credit Register (RCCM) in any of the WAEMU member states, or any equivalent register.
Moreover, in line with legal standards in effect, the firms must provide their financial statements, a...
There will be 34 speakers at the Togo-EU economic forum which will be held in Lomé next June 13-14. This was recently disclosed by the event’s organization committee.
Besides local speakers (both officials and private actors), there will be representatives of the UN, IMF, and the European Union, amongst others.
Among local speakers are Kodjo Adedze, minister of trade and private sector,...
Last Monday, Togolese minister of mining and energy, Marc Ably-Bidamon, met Alibaba’s vice president, Brian Wong, to discuss a possible reinforced trade partnership between the two parties.
This was on the sidelines of the New Economy Workshop’s launch in Hanghzou, China. Ably-Bidamon gave Wong a letter from president Gnassingbé inviting Alibaba’s founder, Jack Ma, to Togo for a working...