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So far, XOF38 billion has been raised by Togo from its main partners for the Kara agropole which is being established in Northern Togo. These partners are the African Development Bank (AfDB), West African Development Bank (BOAD) and the Saemaul foundation from South Korea.
The figure was revealed to Togo First by Essowè Batana, chairman and managing director of the agency for the promotion and...
At end-March 2019, Togo’s debt stabilized at 67.3% of its GDP, according to Sani Yaya, minister of economy and finance.
The World Bank helped the country achieve this level by backing its economic reform program. Yesterday, the bank’s resident representative revealed that between 2017 and 2018 the institution injected $92 million in the program.
The program in effect aims at...
In line with its objective to achieve food sufficiency, Togo will be backed by China. This was revealed during a meeting between the Chinese ambassador to Togo, Chao Weidong, and Noël Bataka, minister of agriculture, yesterday.
The two officials lauded the construction of “major infrastructures in the agricultural sector,” resulting from cooperation between the two countries.
Among the...
Launched in 2016, the program supporting youth employment and insertion into promising sectors (PAEIJ-SP) helped generate 35,000 jobs in agriculture so far, against an expectation of 20,000 jobs.
In detail, the program fostered the creation of 14,290 direct jobs and 20,940 temporary ones.
Agrokom and Jonction de croissance du Togo (JCAT) are two success stories that resulted from the PAEIJ-SP....
To foster a sustainable management of forests in the country, Togo’s government just developed and put in place the national forest investment plan (PNIF), valued at $101 million.
The 2018-2022 plan includes three main axes, namely: managing protected areas, managing forest ecosystems, and third sensitization and resource mobilization.
Regarding the last, fund mobilization, a meeting was...
From next September 1, the European Union’s new directive on mango imports will be applied. This was disclosed by the Europe-Africa-Caribbean-Pacific Liaison Committee (COLEACP) in a release dated April 29, 2019.
According to the directive, mango exporters from West Africa, thus Togo, must verify that “the mango has been subjected to an effective treatment to ensure that is free from...
The National fund for inclusive finance (FNFI) invites all young entrepreneurs, and businesswomen, to apply for a contract to make T-shirts and another relating to the purchase of hardware supplies.
For the first contract, the call to manifestation of interest targets youth and women entrepreneurs all over the country and registered on the website of the national directorate for public...
A Togolese delegation, including Kueku-Banka, Director General of the Togolese Center or Fairs and Exhibitions (CETEF), is currently in Beijing attending the 2019 Beijing International Horticultural Exhibition (Beijing Expo).
Placed under the theme “Live Green, Live Better,” the 2019 Beijing Expo will include many educative and interactive exhibitions as well as thousands of public...
Allianz-Togo is now owned by SUNU Group. The shift does not only affect the Togolese subsidiary of the Allianz Group.
Indeed, the operation concerns the group’s subsidiaries in Benin, Burkina Faso (life, fire, accidents and risks insurances) and Mali.
According to the joint statement revealing the information, these units “are now part of the SUNU Group and will be renamed SUNU...
More than half (58%) of the Togolese population supports private media while 38% (about two out of five of the surveyed) supports the government’s right to control communication. This is revealed by a recent survey on the development of freedoms in Africa carried out by Afrobaromètre.
Across the 34 surveyed countries, 43% of the population is ready to accept that government monitors media,...
During the first quarter of 2019, Ecobank Transnational Incorporated recorded a pre-tax profit of $103 million, down 8% compared to the same period in 2018 (However, after readjusting with currency exchange, it rose 31% to $145 million).
Meanwhile interest earnings amounted to $172.3 million at 31 March 2019, thus slumping 31% compared to the same period last year ($248...
In 2018, Togo’s trade balance degraded significantly, in contrast with an improvement the year before. Accorfing to data from the BCEAO, the country’s trade deficit widened by nearly 70%, standing at XOF492 billion, due to a strong rise of goods imports, while exports were slower.
In detail, imports reached XOF1,213.19 billion (free on board value), thus up 25% compared to 2017. On the other...
In Togo, the national social security fund (CNSS) now allows employers to remotely pay their employees via an online platform of Banque Togolaise de Commerce et d’Industrie (BTCI).
“Using the internet, employers connect to the CNSS’ platform which is synchronized to the BTCI’s platform. There, they can carry out all declaration operations and make payments via the BTCI platform,” said...
In Togo, the autonomous center for capacity-building and studies to promote growth (CADERT) launched on May 2 a workshop on crowdfunding and networking regrouping twenty young entrepreneurs.
Organized in partnership with the national coalition for youth employment (CNEJ), the workshop aimed at teaching participants about alternative funding means and about best practices to harness those.
This...
On April 29-30, a meeting relating to the issue of demarcation between Ghana and Togo’s maritime borders was held.
“So far, very little progress has been made because we are yet to discuss the quintessence of this issue concerning our maritime borders,” said Stanilas Baba, president of the high council for the Sea and member of the team in charge of negotiating with the Ghanaian...
Though agriculture is its main driver, Togo’s economy is tertiary not primary, according to data compiled by Togo First and dating from 2015.
In the country, services contributes 59.1% of gross domestic product (GDP) which is estimated at XOF2,935.7 billion (nominal GDP at market prices), shows provisional data released by the BCEAO end-April.
Also, while it has been contracting since 2016,...