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The International Finance Corporation (IFC) will open an office in Lomé, Togo. This was revealed by the institution’s Vice President for Africa and the Middle East, Sérgio Pimenta (photo), during a meeting with Togo’s President, yesterday.
With this office, the IFC will be closer to local business operators and could more rapidly increase its investments in the country. Also, the World...
In line with the Decentralization Support Programme (PAD), major construction and rehabilitation works will be conducted in Aného, Atakpamé, Sotouboua, Kara and Dapaong. The works will focus on key economic infrastructures (markets, etc.).
According to Togo’s Urban Works Execution Agency (AGETUR-Togo), the group of companies selected to conduct studies (architectural, technical,...
From 10 days, a year before, delay needed for property transfer in Togo at the end of May 2019 was six days. The figure was recently published by the land conservation agency.
Another major feat is that the number of cases processed last May was 40, against only 16 the same month in 2018.
This is attributed to multiple incentives put in place in the beginning of 2018 and augmented this year....
Sérgio Pimenta, Vice President of the International Finance Corporation (IFC), is currently in Togo for a working visit. “The purpose of my visit to Togo is to see how we can expand our operations and support the Togolese private sector to contribute to national development, by creating jobs, economic activities and positively impacting the country,” he declared after meeting with Togo’s...
On Monday, the Majorel contact centre was inaugurated in Lomé. On this occasion, the firm’s subsidiary released a press communiqué saying it intends to create 500 medium term jobs (by 2021).
So far, the joint-venture between German Bertelsmann and Moroccan Saham has about 150 employees. However, by the end of the year it expects to raise the staff to 300 employees, leveraging good human...
Last week, Togolese startup New Road Company revealed its chocolate drink, Choco Noor.
According to the firm’s Managing Director, Adoyi A. Bimon-Isso, the drink’s production aligns with Togo’s national development plan (PND 2018-2022), which is to make Made in Togo products.
Indeed, the startup uses locally grown cocoa to make the beverage. The latter, according to executives of New...
Togo should, if everything goes according to plans, raise €500 million through a Eurobond before the end of this quarter. The government indeed supposedly picked this option over a commercial loan.
Lomé plans to use these funds to clear part of its internal debt. Maturity period for the bond should exceed seven years.
According to sources close to the case, a Togolese delegation is...
Last Friday, the Mifa support project (ProMifa) was officially launched in Lomé by the minister of agriculture, Noël Bataka (photo).
ProMifa is co-financed by the International Fund for Agricultural Development (IFAD), the Togolese government, private sector and its beneficiaries themselves. A total of $35 million (XOF20.24 billion) was mobilized for the project which is to last six...
For the first quarter of this second half of 2019, Togo will seek XOF115 billion on the UMOA securities market.
The funds will be raised through six issuances of fungible treasury bonds and bills.
In effect, there will be four issuances of fungible treasury bonds and two of fungible treasury bills. The first is scheduled for July 12 and 26, August 9 and September 6. For the fungible treasury...
The Food and Agriculture Organization (FAO) will spend XOF41.4 million in Northern Togo, the Savanes region precisely, to improve food security in the area.
The institution’s representation in the country indeed signed last Friday a memorandum of understanding in this framework with the ministry of agriculture, the Red Cross, the national agency for civil protection and the Technical Support...
On July 4, 2019, Minister of finance, Sani Yaya, confirmed IMF’s recent forecast for the Togolese economy this year. This was during the second roundtable of the national credit council (CNC) in 2019.
“Looking at available data, economic growth should reach 5.1% in 2019, after standing at 4.9% in 2018 and 4.4% in 2017. This growth would be spurred by growth in all sectors of activities, the...
The Central Bank of West African States (BCEAO) organized last week the ninth day dedicated to the diffusion of Togo’s external accounts results for 2017.
According to the apex bank, the country’s balance of payments that year was in surplus, just like in 2016, with respective amounts of XOF10.113 million and XOF67.15 million.
External trade of Togo also recorded a surplus of XOF85.315...
The agricultural financing incentive mechanism (MIFA) and the African Guarantee Fund West Africa signed on July 2, 2019, in Lomé a partnership agreement to establish a fund aimed at further increasing financing to actors of the agricultural sector.
The signing took place in the presence of Minister of agriculture, Noel Koutéra Bataka. The fund is baptized “MIFA’s guarantee fund for...
WAEMU’s regional mortgage refunding fund (CRRH-UEMOA) listed exactly one week ago its eighth bond, on the regional stock market, BRVM.
The operation helped raise a total of XOF30.2 billion between 30 October 2018 and January 15, 2019. The proceeds will be used to refund outstanding housing loans provided by banks that hold shares in CRRH-UEMOA.
The bond issuance, BRVM’s managing director...
Pan-African banking group Oragroup recently raised its capital to XOF69.415 billion, thus adding XOF6.097 billion to its initial capital. The new capital, the group indicates, is divided into 69,415,031 shares with a nominal value of XOF1000 per share.
From October 29 to November 22, 2018, the Lomé-based group had proceeded to an Initial Public Offering issuing 6,097,561 new shares and selling...
Since July 1, 2019, Togo started chairing the African Union Security and Peace Council, sources close to the union revealed.
The country’s chairmanship which will close on July 31, 2019, will focus on issues related to maritime security, safety and development in Africa.
Regarding safety issues, Toba Sébadé, Representative of the African Union in Togo, will discuss conflict management and...