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Togolese authorities are currently conducting inspections and controls at the Port of Lomé, checking warehouses and storage areas for delicate or highly sensitive products.
The works were launched on September 14 and will be completed on October 6. They are part of preventive measures taken by the port authorities to avoid a tragedy similar to the one that occurred at the Port of Beirut,...
After reopening its air borders, Togo is looking to soon do the same for its land borders. This, however, must be done in coordination with other countries of the subregion.
The news was disclosed by Col. Djibril Mohaman who heads the team in charge of the response to the pandemic in Togo. He did so during the latest press briefing on the disease’s evolution in the country.
Regarding...
On Sept. 14, 2020, Togolese banks received from the BCEAO CFA219 billion of cash.
The funds will enable the lenders to refinance themselves at an interest rate of 2%. They are part of the Central Bank’s 25th fund injection into the Togolese economy since the pandemic broke out across the WAEMU.
Overall, the Bank has disbursed CFA3,350 billion for all WAEMU countries. They aim to meet...
The Central Bank of West African States (BCEAO) has just published a report, Evolution of financial inclusion monitoring indicators in WAEMU for the year 2019. The document provides a snapshot of the state of financial inclusion in Togo and other Uemoa countries.
The main takeaway of the report which reviews statistics for the last 10 years, is that Togo has been undergoing its most rapid growth...
On September 25, 2020, Togo will again try to raise CFA25 billion on the regional stock market.
Just like for the previous operation on this market, the country will issue fungible Treasury bonds, except this time, they will mature over 60 months (5 years) at an annual interest rate of 6.4%.
It should be recalled that Togo’s latest issuance was on Sept. 11. With an interest rate...
In its recent report, Boosting Private Investment to Achieve Higher Growth and More Jobs, the World Bank recommended that Togo, to revive its economy after the Covid-19 crisis, should work on improving the quality of electricity and reduce its costs. The same recommendation stands for telecom services (internet and mobile telephony).
Besides making these services more accessible, the...
Just as it was about to be lifted, the state of emergency in Togo could be extended to March 2021.
Indeed, the deputies who met for a plenary session yesterday authorized the government to extend the state of emergency for another six months. In detail, two bills were passed by the Assembly: The first extends the time limit for the government to take its measures by ordinance for six...
SGI (Société de Gestion et d'Intermediation) BOA CAPITAL Securities, launched on Sept. 16 its online trading platform, the first of its kind on the Regional Stock Exchange.
The platform, which was launched by videoconference, will enable users to issue stock market orders directly, consult their portfolio 24/7, and access financial information on listed securities and economic news of the...
In 2019, Togo exported more than CFA63 billion worth of cotton, against 49 billion the year before. In terms of volume, exports last year were almost 61,000 t, up from 44,000t in 2018.
Comparing export earnings over the 2009-2019 decade, they were not stable. Indeed, from around CFA29 billion, they soared above CFA37 billion the following year before falling again.
However,...
In Togo, businesspeople were introduced to the new investment code on Sept. 15, 2020. This was during an outreach workshop under the country’s private sector development strategy.
The meeting, to which the Chamber of Commerce and Industry of Togo (CCIT) contributed, was where actors of the Togolese private sector got to know more about the overhaul of the investment frameworks initiated...
Around one out of four (23.1%) of businesses ceased operations in Togo after the government imposed restrictive measures to contain the spread of Covid-19. Out of those, only 2% of them had to shut down completely.
The World Bank revealed this in its latest report of the economic situation in Togo, published on Sept. 8. The related study was conducted at the beginning of June and...
Over the 2009-2019 period, Togo’s phosphate exports to its WAEMU neighbors generated a little more than CFA562 billion. This is revealed in the 2019 WAEMU report on foreign trade published by the Central Bank of West African States (BCEAO).
In terms of volume, the exports which fluctuated over the period were estimated to have exceeded six million tons. And while exports (by volume)...
Since Sept. 10, 2020, the Togolese Fintech Semoa has made it possible for Ecobank customers to transfer money from the lender’s mobile App to their Tmoney e-wallet (owned by Togocom). This is done via a Bot called Dédé.
This service allows “Ecobank customers to transfer money from home in a context where they presently have to go to an ATM, withdraw their funds and look for a place...
In 2019, Togolese imports were twice its exports, despite the latter having slightly increased over the period.
The country’s exports generated CFA647 billion (fob) over the period while it spent CFA1,287 billion on imports (at customs value), thus about CFA110 billion more than it did in 2018.
The new statistics published by the BCEAO and based on Togolese customs data also reveal that...
In the last few weeks, Togo has recorded a surge in the number of Covid-19 cases in the regions of Kara and the Savanes. New outbreaks have been reported in the prefectures of Assoli, Tchaoudjo, Kozah, Sotouboua, and Tchamba while some weeks ago the pandemic was stabilizing.
This has led authorities to place the concerned localities under lockdown. For now, the restrictive measures have...
A smart road is expected to be built as part of the Lomé-Ouaga-Niamey corridor project.
In detail, countries involved in the project, namely Togo, Burkina Faso, and Niger, will have to build and launch smart transportation systems which are apps or advanced services that combine tech, geolocalisation, and transport engineering.
Once these systems are developed, the corridor should...