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In Togo, deposits at microfinance institutions and decentralized financial systems grew by 16% during the first quarter of this year. This was disclosed by the Central Bank of West African States in its latest report on microfinance within the West African Economic and Monetary Union (WAEMU).
This is the second highest growth in the union, after Mali (+20%), and before Côte d’Ivoire (+15.1%),...
Phil Bryant, Mississippi Governor, “expressed the will to contribute to Togo’s development by mobilizing American investors in our agribusiness sector,” President Faure Gnassingbé tweeted August on 12.
The tweet came a while after a work meeting between the governor, the Togolese leader and some of his government members. The governor was followed by representatives of the US private...
Prosper Africa is the name of the new program developed by the Trump administration and which is set to substitute the African Growth and Opportunity Act (AGOA) by 2025. This new program aims to boost trade and investments between Africa and the US.
As a beneficiary of the AGOA, Togo will be part of the first nations to benefit from the new program. According to the Togolese communication cell,...
From 2012 to 2017, XOF92 billion was mobilized for the national strategy for grassroot development (PNDB) in Togo. The figure was disclosed last Friday at the review session for the programme chaired by the minister for grassroot development, Victoire Tomégah-Dogbé.
In detail, over the period reviewed, the monies raised were used to establish more than 300 agricultural processing units,...
In Togo, a mechanism to qualify and classify businesses, consulting agencies and laboratories operating in the construction sector could soon be adopted. Sources close to the public procurement regulator (ARMP) said the document recently got technical validation, and final validation by all actors of the sector should follow rapidly.
The mechanism aims at making the sector more professional by...
On August 9, 2019, Togo closed its third issuance, for the third quarter on the UMOA-Securities market. Subscriptions for the operation attained XOF29.5 billion, thus representing a coverage rate of 147%.
However, over the amount raised, the country captured XOF22 billion. “This operation aligns with the public securities issuance program of Togo, in line with its mid and long term debt...
Gervais Koffi Djondo, founder of Ecobank and Asky, has always spoken about Africa and his vision for entrepreneurship on the continent. It is even this love of Africa that brought him out of retirement.
Few weeks ago, Gervais Koffi Djondo, founder of Ecobank and Asky airlines came out of retirement by releasing a book titled L’Afrique d’abord (Africa first, in English). In his book which is...
Togo just adopted a bill to ensure the safe, secure and pacific use of nuclear energy and awaits parliament’s approval for its effective implementation
“Ionizing-radiation can bring about major advantages in many sectors, such as health, agriculture, industry (civil and military) and scientific research,” reads minutes from the recently held ministers’ council....
At the recent council of ministers held last Wednesday, Demba Tignokpa, minister of development planning and cooperation presented the Immediate Response Mechanism (MRI) established by the World Bank.
“This new tool will allow the World Bank to rapidly mobilize IDA funds to facilitate interventions to resolve emergencies.”
Flexible in nature, the MRI allows to draw from 5% of undisbursed...
On October 10 and 11, 2019, the first edition of the FERIN fair will be held in Lomé. Organized by Terreau Fertile, the event’s theme is “Promoting investments and facilitating trade with technology.”
Businesses, project carriers, young graduates, investors, and also representatives of the public administration will attend the fair. The latter should improve exchanges between these...
In Togo, the boulevard des Armées, a 2.8km road that connects Bè, in the eastern part of Lomé, to the city’s western part, to CHU Sylvanus Olympio to be specific, will soon be reopened as works for its rehabilitation are almost done.
This was revealed following a recent visit by Togolese minister of Infrastructures and Transport, Zoubératou Kassa-Traoré, at the site....
In Togo, the e-communications and posts regulatory authority (ARCEP) inaiugurated its new headquarters in the capital’s administrative area. The building was inaugurated yesterday, August 7, by Prime Minister Komi Selom Klassou.
The new headquarters cost XOF2.2 billion, funded by the posts and telecommunications regulatory authority (ART&P). Construction works took 60 months.
According to...
“Today, no administration can operate alone.” These were words recently spoken by Essowavana Adoyi, Tax commissioner at the Togolese Tax Office (OTR), to emphasize the need for cooperation between African tax authorities.
This was during the third reunion of competent authorities of the African Forum for Tax Administrations (ATAF), in Lomé.
Adoyi explained that tax administrations need to...
African firms need to use credit and bond insurance more, according to the International Insurance Institute (IIA). This was during a seminar the institute held in Lomé last month.
Themed “Credit and Bond Insurance : Conditions and Terms, Terms of Pricing and Loss Management,” the seminar aimed at presenting the lease-credit-insurance product to experts from member-States of the...
Next Friday, Aug 9, Togo will once more seek to raise XOF20 billion by issuing fungible treasury bonds.
The unit nominal value of the bonds is XOF10,000 with a maturity period of 36 months and an interest rate of 6.25% per annum, starting from the first year.
Securities subscribed will generate returns between August 12, 2019, and July 15, 2022. Repayment will commence on the first business day...
Lomé-based pan-African lender Ecobank has recently installed solar panels to meet part of its power demand.
The move is in line with the Togolese government’s current energy strategy under which authorities want renewables to make up 50% of the local energy mix by 2030.
The lender however is not the first to walk down this path. Indeed it was preceded by Orabank-Togo which set up at its...