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“Togo should join the Commonwealth and the President even said so,” said UK deputy Andrew Rosindell after he recently met a Togolese delegation led by President Gnassingbé. The delegation is in the European capital to showcase Togo’s national development plan and secure investment for its implementation.
The African country indeed reaffirmed its will to join the multi-government...
Togo-based European companies and other local firms involved in trade affairs with Europe created a European Chamber of Commerce in Togo (CCET) on 3 June. This was during a Constitutive General Assembly in Lomé.
According to the promoters, the creation of this entity lies on the need to “structure trade while promoting sustainable investment, in response to Togo's new trade and economic...
Over the past two decades, Togo’s score on the Global Childhood Report grew by 103 points to 679 points. In the 2019 edition of this index published by NGO Save The Children, the country occupies the 22nd position in Africa.
The report ranks countries that defend child rights most. To this end, it assesses criteria such as nutrition, access to health and education, physical integrity,...
On May 31, 2019, Standard & Poor’s published its first-ever short and long term credit rating for Togo’s debts denominated in local and foreign currencies. According to the rating agency, Togo stands at B with stable outlooks for those debts.
“We expect economic activity will benefit from the recent upgrading of key infrastructures, such as the completion of extensive works at the port...
On Saturday, June 1, SOLEVA, second firm active on the CIZO project, started its operations in Vogan, a community situated 67km from Lomé.
The Off-grid specialist should sell at least 300,000 Sun King® (owned by its US partner Greenlight) solar kits across Togo in the next five years.
According to the Togolese Agency for Rural Electrification and Renewable Energy (AT2ER), 15,000...
Last Friday, Togo raised on the regional financial market XOF16.5 billion, through a bond issuance with a 3-year maturity period and an interest rate of 6.25%.
Initially, the country’s public treasury aimed to mobilize XOF15 billion. However, the operation was oversubscribed at 278.59% or 41.7 billion secured from investors in all WAEMU States except Guinea Bissau.
Let’s recall that the...
Togo’s minister of economy and finance, Sani Yaya, urged the African Solidarity Fund (ASF) and its partners to finance the 2018-2022 national development plan. This was at the opening ceremony of ASF’s 10th general assembly.
The plan, Yaya said, “needs XOF4,622 billion in funding, two-thirds of which will be secured from the private sector. I trust that the African Solidarity Fund whose...
In order to modernize Togolese agriculture in 2020-2025, E-agribusiness will deploy 125 farming drones across the country. In parallel, the firm intends to train 500 people to pilot the gadgets.
The project aligns with the second axis of the government’s national development plan, knowingly getting more young Togolese interested in agriculture. It also aims at boosting productivity, securing...
Yvon Koudam won the “Pitch your startup idea” contest, the pinnacle event of Togo’s first Student Digital Entrepreneurship Forum (FENES) launched last Friday.
With “Kondjigbalê,” a project promoting an online health booklet, the youth was awarded a prize of XOF500,000 (under the innovation and digital entrepreneurship category). “We came from far and are nowhere near our goal yet...
Togo is presently the leading West African exporter of organic products to the European Union (EU).
According to data from the European Commission relayed by Commodafrica, in 2018, Togo exported 22,123 tons of agricultural organic products to the EU. This is more than Ghana, the second largest exporter with 14,948 tons, Côte d’Ivoire (14,392 tons), and Burkina Faso (12,456 tons). Last in the...
Koosmik, a Luxembourd startup specialized in financial services raised on May 22, two million dollars to expand its activities in Togo where it has been operating since 2017.
This is the second time the firm proceeds to a fundraising aimed at boosting its operations in the West African nation. Through the previous operations, it successfully mobilized more than a million dollars.
Just like the...
From May 2018 to May 2019, 110,000 ECO CCP savings mobile accounts have been created. The figure was released by Société des Postes du Togo (SPT), which launched the financial inclusion tool in May 2018.
Over the period, the accounts recorded 52,318 transactions amounting to more than XOF3 billion.
Let’s recall that ECO CCP account is linked to users’ TMoney or Flooz mobile money...
A minimum quota of local products will be integrated to meals offered in hotels and restaurants operating in Togo. The measure aims to promote local production, processing and consumption, which are impaired by a high importation level.
“Through this initiative, the Head of State wants to improve consumption of local products,” reports local newspaper Kamgou citing minister of agriculture...
The ECOWAS Bank for Investment and Development (EBID) has just launched a bond issuance operation. The aim of this operation, approved by the regional council for public savings and capital markets, is to raise XOF25 billion in order to fund seven (7) projects in the energy, industry, hospitality and financial sector. These projects will be implemented in Benin, Côte d’Ivoire, Burkina Faso,...
The State has transfered to Togo Invest Corporation S.A its stakes in Complexe Pétrolier de Lomé S.A, Société Togolaise de Stockage de Lomé S.A and Togo Oil Company S.A. Related decree was adopted in a council of ministers held on May 29.
In detail, the State has ceded respectively 100%, 40% and 79.734% of the firms to Togo Invest. The move should “grant the latter more financial weight...
In Togo, 30% of businesses created between 2010 and 2015 are no more operational. This was disclosed by the Business Formalities Centre (CFE) in a study on business survival in Togo, covering that specific period.
According to the study, out of over a total of 40,831 businesses created at the CFE from 2010 to 2015, 28,582 or 70% are still operational, against 12,249 or 30% which have ceased...