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Togo’s Trade and Industry Bank (Banque togolaise pour le commerce et l’industrie – BTCI) has just committed five billion CFA to the agricultural financing promotion mechanism, MIFA. The facility, yielded after talks between the two parties involved, will support agricultural value chains in Togo.
Launched last June, the MIFA’s purpose is to encourage financial institutions to fund...
Odalys, Europe’s second largest tourist accommodation group, plans to set shop in Togo by 2022, in line with its expansion strategy in sub-Saharan Africa (SSA).
Besides the Togolese capital, the French group, which has already started operating in Douala, also intends to extend its footprint to Abidjan, Côte d’Ivoire by 2022. More than 10 projects are also being studied in markets such as...
AIM-listed mining firm Keras Resources has secured the approval of theTogolese government to export a 10,000 ton bulk sample of its manganese production of Nayega.
“I am delighted to announce that we have completed the bulk sample and received all the required authorisations to begin shipping for metallurgical testwork at the third-party ferromanganese smelter facility. The shipping is the...
Establishing the African Continental Free Trade Area (AfCFTA) could be detrimental to West African integration if all countries in this region fail to sign and ratify the related agreement. This was a concern expressed by the heads of the ECOWAS and WAEMU commissions during the two institutions’ latest joint meeting, on March 8th 2019.
To date, only eight countries in West Africa, including...
In Togo, the Golfe and Agoè-Nyivé prefectures adopted a budget of about CFA9 billion for 2019, up 0.25% compared to the past year.
This budget entails two main components which are operations and investments. The second concerns development projects in the prefectures, including construction of public buildings in townships, as well six bridges.
Let’s recall that overall, the country fixed...
Togo just signed with the Khalifa Fund for Enterprise Development, in Abu Dhabi, a $15 million (CFA8.7 billion) financing agreement. The facility will be used to support micro, small and medium enterprises in the country.
The agreement was signed, in the United Arab Emirates, by the chairman of Khalifa Fund, Hussain Jasim Al Nowais, and Togo’s minister of economy and finance, Sani Yaya;...
Next Wednesday, the Central Bank of West African States (BCEAO) will hold a regional meeting on the uniform act on factoring across State members of the West African Monetary Union (WAMU).
Factoring is a form of financing that helps companies with cash flow problems due to slow-paying clients. It allows a company sell its debt or invoices to a specialized entity or factor at a discount. The...
The African Development Bank (AfDB) and the United Nations Food and Agriculture Organization (FAO) granted Togo a million dollars to better fight the fall armyworm invasion to which it is presently exposed.
“Togo, like many African nations suffers an invasion of fall armyworm,” says George Bohoussou, acting country head of AfDB in Togo. Statistics show that during the 2018-19 agricultural...
President Faure Gnassingbé is currently in the United Arab Emirates (UAE). This visit aims at reinforcing the Abu Dhabi-Lomé partnership and attracting investments for Togo’s 2018-2022 national development plan.
During his trip, the Togolese leader will meet with Abu Dhabi’s Crown prince Mohamed bin Zayed Al Nayan, and Mohammed bin Rachid Al Maktoum, Vice President and Prime Minister of...
A Gabonese delegation was in Togo for the first intra-African Conference for Social Security (CIPRES). This delegation came to learn more about Togo’s model in terms of financial inclusion, about its national fund for inclusive finance (FNFI) to be exact.
“We have been told that Togo’s model is better than ours and thus deemed it useful to meet Togolese authorities during this conference...
Soon, a mobile-based service will allow Togo’s population to a have continuous access to drinking water. This solution was developed under SOFIE, a program aimed at enabling populations to rapidly signal any failure of water wells. This would in turn ensure a better management of the wells.
In this regard, the government has put in place with its development partners, a large program for the...
By 2030, Togo plans to acquire 300 mini-grids, in the framework of its rural electrification program.
So far, four of the mini-grids have been installed. The solar systems will, according to reliable sources, help the country achieve universal access to power by 2030.
Other initiatives aligning with this goal include the CIZO presidential scheme. The latter has already provided access to power,...
Last year, in April, Sète’s customs, in south eastern France, ceased 24.6 tons of automotive waste headed to the Port of Lomé. This is revealed in the latest report of France’s customs.
While conducting a routine inspection of two semi-trailers headed for Africa, custom officers noticed that the “vehicles’ refuse skips were not empty as declared but instead full of automotive waste...
After introducing many young entrepreneurs, all over the country, to opportunities provided by the new tax code, the national agency for funding promotion and guarantee (ANPGF) now wants to give them solutions that may help their businesses thrive.
At the upcoming “Mercredi de l’Entrepreneur” that will be held March 13, a training session on the best “strategies and techniques to revive...
Last year, Air France KLM’s performances in Africa slumped.
Flight tickets across the continent decreased to €1.12 billion in 2018, from €1.17 billion the year before. Similarly, the airline’s revenues from flights to sub-Saharan African countries was down €120 million compared to 2017.
While the carrier failed to provide more details about its poor performances in...
Togo’s national agency for agropole promotion and development (APRODAT) seeks a consultant for the operationalization of the agricultural transformation project (PTA-Togo). The latter is financed by the African Development Bank (AfDB).
The selected consultant will be providing the agency a guide on administrative, financial and accounting, and public procurement procedures. In addition, it...