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The Kara Investment Fund will invest XOF5 billion in the agribusiness sector, in Togo. This was revealed last Friday by the fund’s head, Armand Guy Zounguéré-Sokambi, during a meeting with Prime Minister, Komi Sélom Klassou.
According to Aristide Agbossoumonde, head of the agricultural financing incentive mechanism (MIFA), the move was spurred by the improvement of the local business...
The government of Togo recently provided Industrie Commerce Agrochimie Investissement (ICA INVEST) a large-scale exploitation license for the clay deposit of Ledjoblibo. The latter is situated at Dankpen (417km from Lomé), in the Kara region.
Exploiting the deposit should improve the State’s mining revenues, create jobs and wealth in the area concerned.
For its part, ICA INVEST, under its...
From 2008 to date, school feeding in Togo cost XOF19.7 billion. The information comes from the summary of the ministers’ council held last Wednesday.
The funds were invested in the school canteens project which is co-financed by the World Bank (XOF13.7 billion) and the Togolese government (XOF6 billion). This project falls under a larger scheme known as the Social nets and community...
In line with the country’s new agricultural policy, the national school of agriculture of Tové (INFA) will be reorganized. A decree was issued to this end on July 24 during a ministers’ council.
This reform follows an audit that showed that INFA has some shortcomings, at the organizational and operational levels. This reorgarnization should in effect ensure that the school produces human...
Togo’s Minister of foreign affairs, Robert Dussey, met with his French counterpart, Jean-Yves Le Drian yesterday in Paris. The two discussed many issues including talks regarding a new Cotonou Agreement post-2020, in line with partnership between countries of African, the Carribean and Pacific and the European Union (ACP-UE).
According to the French diplomacy, the talks are advancing and...
Togo is working on ways to be influential in the African Continental Free Trade Area.
On July 23, Katchaki Batchassi, Director of External Trade in Togo, and some consultants, met with private sector actors in this framework.
On this occasion, the economic operators were asked what they expect from the Free Trade Area in terms of profit, and goods and services they intend to deliver within the...
Established since 1998, the housing tax which is about to be reintroduced has sparked some controversies over the past few weeks. As a result, the Togolese Revenue Office (OTR) organized a press conference last Tuesday to explain the relevance of the tax.
The housing tax, authorities thus indicated, is collected from all households with a residence and reallocated, in full, to local communities...
It’s effective. The Japanese firm Mitsubishi wishes to join the CIZO program in Togo.
On July 23, Yas Doida, Director of Mitsubishi Africa, after meeting with President Gnassingbe, declared: “We wish to contribute, as a Japanese firm, to the CIZO programme launched by the Head of State with a goal of achiving universal power coverage by 2030. We talked about the various off-grid solutions we...
In Togo, the National Social Security Fund (CNSS) just expanded e-payment of social security contributions to Ecobank, Oragroup and Union togolaise de banque (UTB). This is after a pilot stage where this payment mode was enabled on Flooz, Tmoney and Banque togolaise pour le commerce et l’industrie (BTCI).
In addition to being able to pay the contributions on the CNSS e-platform, contributors...
Togo’s government plans to rehabilitate and asphalt nearly 600km of roads by 2022. This will ease traffic and improve access to remote areas while unclogging some major axes.
Through the project, the authorities want to get a modern road network that will enhance transportation of people and goods, such as agricultural products to major cities, while improving road safety. This aligns with the...
In Togo, Ecobank executives met yesterday with some young local entrepeneurs to discuss possibilities for the bank to provide them institutional and financial support in their ventures.
The meeting held in Lomé was chaired by the Ministry of Youth, Victoire Tomégah Dogbé. Also present were Mamady Diakité, MD Ecobank Togo, Paul harry Aithnard, Regional Director of Ecobank in WAEMU, and Kanka...
Komi Dovi Koudou, founder of Natuthe Kinkeliba, the startup that produces Kinkéliba tea, plans to start industrial production soon. To this end, the young Togolese entrepreneur intends to raise CFA124 million.
In an interview with Togo First, he declared: “We are mobilizing funds to acquire equipment, to produce more rapidly, and reduce related costs and subsequently get our Kinkéliba tea to...
Famous Japanese car dealer Mitsubishi Corporation has decided to enter the Togolese power market. The firm will provide off-grid solutions to local populations, those living in rural areas especially. The news was disclosed yesterday by Yas Doida, Head of the Company’s Branch in Africa, after meeting with Togolese Prime Minister, Sélom Klassou.
“We mostly discussed energy,” said the...
“Togo can count on the World Bank’s permanent support. We will continue backing its national development plan to foster inclusive growth, by improving business climate and boosting entrepreneurship in the country.” These were the words of Coralie Gevers, the new head of operations of the World Bank in Togo, during a visit in Lomé.
The statement falls in line with a commitment by the...
Announced last March, the third edition of the Made in Togo fair will take place on Friday, July 26, at the Centre Togolais des Expositions et Foires de Lomé (CETEF).
The upcoming event, which is sponsored by the ministry of trade and industry, should be the second largest of its kind after the International Fair of Lomé.
The theme picked for this edition is “Together, let’s valorize and...
The International Finance Corporation (IFC), the World Bank’s arm for private sector, plans to soon invest in micro, small and medium enterprises in Togo, after having financed large firms such as Ecobank, Contour Global and LCT in the country for years.
On July 8, 2019, Africa Global Recylcing, a local SME, joined the IFC’s Local Champion Program in this framework.
“From now on, our...