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Last Thursday, Togo was represented at the Donor’s Roundtable Discussion on Investment of WAGRIC Project.
At this occasion, the country presented its project to double the N°1 national road. “This should boost economic transactions by easing goods circulation,” said Etsri Homevor, General Secretary at the Togolese Ministry of Development Planning.
Besides this project, two other...
In Togo, a B2B platform was just launched to ease exchanges between the carriers of the 141 bankable projects selected at the recent Togo-EU economic forum (FETUE) and their European partners.
“The platform which was put in place with the help of the European Union, will be operational for two years,” revealed Sandra Johnson, coordinator of the FETUE and head of the National Business Climate...
UN Women, the World Bank, PNUD-Togo and some other institutions are planning to organize in Lomé an entrepreneurship forum for Togolese women. Oulimata Sarr, Head of UN Women Africa, Hawa Cissé Wagué, World Bank’s representative resident in Togo, and Aliou Dia, Head of PNUD-Togo, recently met to discuss the project.
The event aims at further boosting women entrepreneurship in the country....
Tech hubs are on the rise in Togo. From only two in 2016, the country now has 13 of them, according to a recent survey by Briter Bridges which assessed tech industries in Africa.
While progress made by Togo is undeniable, the country still lags behind some of its neighbors like Nigeria, Ghana, Côte d’Ivoire, Senegal and Mali.
In Africa, Nigeria has the most tech hubs, 85 overall at the...
Internet Service Provider (ISP) Téolis says it now covers 80% of Grand Lomé and its surroundings.
In detail, the firm, which provides internet to homes, startups and SMEs, covers three main zones of Lomé and its periphery. The first zone goes from Wuiti to Ablogamé. The second goes from Ablogamé to Zopomahé and the last from Adidolokpo to Bernard Copé.
Téolis, which launched the service...
Instead of €500 million as announced by President Gnassingbé in London recently, the Eurobond that Togo plans on soon issuing will aim at raising €397 million.
For this operation, Lomé’s advisor is the French business bank Lazard. The Eurobond which was approved by the International Monetary Fund (IMF) will be guaranteed by the World Bank and Africa Trade Insurance.
Proceeds...
Transportation startup Gozem recently entered the Beninese market, providing tricycles in Cotonou and Lomé.
This marks the firm’s first step towards its African expansion.
While launching the new service, Gozem’s founder, Emeka Ajene, said: “By launching this service, what we provide our customers across the region are safe options at affordable rates for all occasions.”
Séna...
Togolese Minister of Agriculture, Noël Koutera, and Hussain Jasim Al Nowais, President of the Khalifa Fund for Business Growth, just signed in Lomé an agreement to boost agriculture in Togo.
The $15 million agreement is aimed at backing young agricultural entrepreneurs, SMEs and SMIs. “This deal will serve to put in place a financing line for MIFA and help fund very small and medium...
India has provided Togo a million dollars to preserve biodiversity in the Fazao-Malfakassa national park. The project launched yesterday, July 15, will be carried out by UNESCO, revealed the institution’s representative in Togo, Damien Mama.
In effect, the new project will foster a better management of protected areas and this will involve various parties, including surrounding communities. It...
Next October 3 and 4, Lomé will host West Africa’s first investment forum, “Invest in West Africa.” The event aims at finding a solution to private sector’s difficulty in accessing financing in the region.
Also, according to Idrissa Nassa, President of Coris Group which is sponsoring the forum, besides “facilitating the financing of SMEs and SMIs with a high potential, boosting...
Vivendi’s Togolese subsidiary, GVA-Togo, just launched a new service called “Start”. This is a broadband offer which costs CFA15,000, half what the company’s first offer, CanalBox, cost.
The new offer which falls under the Fiber to the Home project aims at making broadband accessible to all.
“With our Start offer, many Togolese households can enjoy broadband via fiber optics, for only...
In Togo, a new guarantee fund of XOF100 million has been put in place by various banks for local SMEs and SMIs. The monies will help “business operators who struggle secure public procurements,” according to a senior official from the National Chamber of Commerce and Industry (CCIT) which put in place the fund.
Businesses interested in benefiting from the fund must first register on a...
Moody’s, just after S&P, delivered its first ratings for Togo. The ratings agency indeed gave the country a B3 rating with stable outlook, while S&P gave it a B rating.
The ratings come as Togo plans this quarter to issue a Eurobond seeking €500 million. The move was comforted by successful Eurobonds issued recently by some neighboring nations.
Monies raised through the...
Togo will over the next 10 years clear all its domestic arrears, in line with its medium-term debt strategy. This amounts to XOF225.5 billion which is 10.3% of the country’s public debt.
Lomé plans to pay this year XOF35.4 billion, after having paid more than XOF50 billion in 2017 and XOF65 billion in 2018. This is good news for the private sector which is expected to contribute 65% of the...
In Togo, the Economic Governance Support Project (PAGE) goes in line with the expectations of the World Bank and the European Union (EU) which finances it.
Hawa Cissé Wagué, representative resident of the World Bank in Togo said she is satisfied with the project in an interview with Erick Kaglan, Head of Communications at World Bank Togo. She declared: “I am very satisfied with progress made...
It is a great start for Togo on the regional financial market in this third quarter. The country’s public treasury indeed recently raised XOF43 billion via a three-year bond issuance. This represents a coverage rate of 215% and consolidates the country’s performances on this market since the beginning of 2019.
However, the treasury will only cash 110% of the auctioned amount, thus XOF22...