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More than $1.4 billion (€1.3 billion) worth of commitments have been secured from European investors at the closure of Togo-EU economic forum.
This is about one-fifth of five billion US dollars of private funds needed for Togo’s national development plan.
Lauding the achievement, Prime Minister Komi Klassou declared: “Togo’s emergence process is underway.”
For his part, Germain...
At the recently-ended Togo-EU economic forum, Germain Mèba, president of Togo’s chamber of commerce and industry, revealed that 141 bankable projects were retained by the committee specifically established for this purpose.
The projects are in various sectors, ranging from agriculture to tourism, including oil and manufacturing, and many more. They all align with one of the three axes of the...
In Togo, the agricultural financing incentive mechanism (MIFA) has signed two agreements with European investors to promote made-in-Togo abroad. This was during the recent Togo-EU economic forum ended last Friday.
In detail, the first agreement is a letter of intention signed with German firm Better Eco. It defines the global framework of a coming convention to “reinforce technical and...
The US embassy has launched online a new training on social entrepreneurship for young Togolese.
The workshop which will last two months will profit those with “solid ideas fostering social transformation via social entrepreneurship.” Only 12 participants will take part in this first edition and classes will be given thrice a week.
Through the training, the US embassy wants to...
In 2018, foreign direct investments (FDIs) to Togo stood at $102 million, according to the World Investment Report released by UNCTAD on June 12, 2019.
This represents a 15% increase compared to the $88.3 million recorded the year before. It is the second consecutive rise in the past two years. The UN institution attributes this performance to the Free-Trade area of Lomé.
“In some...
On June 13, 2019, Togo’s minister of finance, Sani Yaya signed the letter of adhesion of Togo to the development centre of the Organization for Economic Cooperation and Development (OECD). This was in the presence of the centre’s director, Mario Pezzini.
The signing comes some weeks after a Togolese delegation led by the minister of grassroot development, Victoire Tomégah-Dogbé, attended...
Yesterday, at the Togo-EU chamber of commerce, EUROCHAM-Togo, was officially launched.
This new entity will build and consolidate relations between Togo and Europe. It is chaired by Charles Kokouvi Gafan, CEO of Bolloré Transport & Logistics Togo.
The launch of the EUROCHAM results from the will of European investors established in Togo to have an institution that will defend their rights...
In 2018, 123 European firms were registered at Togo’s Business Formality Centre (CFE).
This is merely 6% of all firms registered by foreigners in the country over the period (1920 firms). While very marginal, this figure contrasts highly with the weight of European or European-owned businesses in Togo.
Indeed, in 2016, Total-Togo, subsidiary of the French oil and gas behemoth, was Togo’s...
Togo’s President, Faure Gnassingbé, officially launched today the first Togo-EU economic forum in Lomé.
The related ceremony was attended by Jyrki Katained, EU commissioner for Jobs, Investment and Competitiveness, Mario Pezzini, Director of OECD’s Development Centre, various government officials and business moguls such as Africa’s richest Aliko Dangoté.
More than 300 investors from...
Announced during a council of ministers at end of May 2019, Togo’s new investment code was unanimously adopted by the parliament last June 11.
The document aligns with the ambitions of the country’s national development plan which aim to make it more attractive and draw foreign firms and investors.
According to minister of economy, Sani Yaya, “the code is a key legal tool for the...
Grameen Crédit Agricole (GCA) Foundation just granted $340 thousand to microfinance institution Coopérative d’épargne et de crédit SIFA Coopec SIFA).
This should help Coopec SIFA, which mainly helps women in rural areas in Togo, maintain and improve its savings and credit services aimed at poor women in rural areas in the north.
According to a document related to this operation, the...
During the 5th Annual Debate held in London last June 5-7, the Togolese Head of State, Faure Gnassingbé (photo), pled for the creation in Lomé of a top-class business school.
The President emphasizes that Lomé is a financial hub since it houses “the headquarters of several pan-African, regional or sub-regional financial institutions,” including Ecobank Transnational Incorporated (ETI),...
In the next three months, Togo plans to raise €500 million in international finance markets. This was confirmed by the country’s president himself, Faure Gnassingbé, during an interview in London.
The news comes a little after U.S ratings agency Standard & Poor’s published, for the first time ever, its short and long term credit rating for Togo’s debt in local and foreign...
Kuwaiti firm Agility Global Integrated Logistics (GIL) signed last Thursday in London a letter of intent to establish in Togo a logistics park. The document was inked by the firm’s managing director for Africa, Geoffrey White, and Togo’s minister of trade and private sector, Kodjo Adedze.
Under the deal, Agility is to build a logistics park in Lomé.
Though no further detail was given,...
Launched in 2011, the Agricultural Sector Support Project (PASA) is under assessment. The related mission was initiated June 3, 2019, in Lomé.
The current mission, the thirteenth since the project was launched, is undertaken by the Togolese government and the World Bank which backs it. The session focuses mainly on the level of execution of major components of PASA’s additional financing, and...
Togo’s President, Faure Gnassingbé, at the Togo-UK Investment Summit started in London June 6, invited investors to come to his country.
“Togo has always had the advantage of being well positioned and having a deep-water port connected to the rest of the world,” says the leader.
The port, “ranked first in West Africa” by “The Maritime Executive” has modern equipment and...