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With a score of 2.8 over 5, same as Tunisia, Togo’s business climate is getting more attractive according to the 2019 Annual Rankings of the French Investors Council in Africa (CIAN).
The country owes this performance to its modernized port and air networks, its position of trade hub, tax incentives, security level, and right to employment, among others. Due to these advantages many...
The government wants to build in Cinkassé, near the border with Burkina Faso, a dry port.
The infrastructure which will develop under a public-private partnership will cover 100 ha and help reinforce transport between the port of Lomé and Cinkassé.
The dry port project is steered by Togo Invest. It will have customs facilities where goods from Burkina Faso, Ghana and Niger will be processed....
In Togo, Gozem users will have access to taxis (cars), in addition to zemidjans (local taxi-bikes).
“Gozem is glad to add this new string to its bow, in the framework of its expansion in Lomé, while offering an innovation service, one of quality with a mile-based fee”, said Gozem CEO, Emeka Ajene.
Concerning security issues, Gozem assured that “before partnering with Gozem, all drivers...
Two out of three Togolese (66%) think the CFA should be replaced, according to the latest survey of Afrobaromètre. According to them, “the currency profits France more than members of the Franc zone such as Togo”.
On the other side, 23% of the surveyed believe that the CFA is a “tool for development and should be maintained”.
Going deeper, the survey shows that the richest and...
The Self-Help Program of the US embassy in Togo is making new beneficiaries at the beginning of February. The scheme is granting a total of XOF11 million to support about 10 small community projects in the country.
Self-Help is a community assistance program, launched in 1964, which aims to finance micro-development projects of local communities. The main selection criterion is self-handling....
A more than 50-ha multiservice logistics park will be built at Adakpamé, in Lomé, Togo, to unblock Lomé Port, which has become the leading port in West Africa, Togo First learned.
Currently, geotechnical studies are being conducted on the site, close to the port, authorities confirmed estimating that construction works should start in the coming months.
"This project is led by Togo Invest...
CFA28 billion. That is the amount raised by Togo for its treasury bills issuance on the regional market last Friday.
Considering that the country initially aimed to raise CFA20 billion, the final proceeds are up by CFA8 billion, representing an oversubscription rate of 139%. However, as planned initially, CFA20 billion will be spent on the 2019 budget.
Overall, 34 subscriptions from all WAEMU...
Last Thursday, Togo’s Revenue Office (OTR) carried out a meeting with the country’s notaries to get them acquainted with the new general tax code of fiscal procedures in force.
The new code includes new initiatives such as a single land desk, a single land transfer fee set at CFA35,000, new modalities for property transfers, among others. These innovations, according to the tax commissioner,...
Togo and Ghana plan on collaborating to define a framework to use a spectrum of telecom frequencies at their common border.
Since last Thursday, a delegation from the Togolese telecommunications and post regulatory authority (ARTP) has been in Ghana to meet with officials of the National Communications Authority of Ghana (NCA).
This meeting aims at overcoming issues related to interferences in...
Togo’s mechanism promoting agricultural financing (MIFA) will, starting this year, focus primarily on the sectors of corn, rice, vegetables and poultry production.
This was revealed last Thursday, on the sidelines of a ceremony for the signing of a financing convention for the mechanism, between Togo and the International Fund for Agricultural Development (IFAD).
On this occasion, Togo was...
The Mechanism Promoting Agricultural Financing (MIFA) in Togo is now a public limited company. This was revealed February 7, 2019, following a council of ministers held the same day.
MIFA’s new structure is based on a private-public partnership and should better meet expectations of agricultural actors and its partners.
Refering to the decree making the MIFA a PLC, the council of ministers...
Togo wants to reinforce regulations relating to land transfers from citizens to foreigners. Related leases will be extended for a period of more than nine years.
These decisions are found in the second decree assessed during the recent council of ministers held last Wednesday.
In effect, “transfers of property and constitution of property rights regarding a building located in the country,...
Togo wants to establish a new investment framework, in line with its development goals.
Indeed, during the recent council of ministers, Sani Yaya, minister of economy and finances, declared that the measure would involve reforming existing framework, “so it becomes more attractive for investors, while ensuring their contribution to public finances”.
Streamlining tax expenditures could boost...
Yesterday, the Justice Support Programme was reviewed during the third meeting of its Steering Committee.
In detail, the program’s four axes of intervention were reviewed. These include the reinforcement of justice’s regulation framework, improving access to law and justice for the people, reinforcement of framework relating to fight against corruption and illicit enrichment. Last is the...
In 2017, Togo exported CFA88.579 billion of agricultural products, up 29.9% compared to the previous year (CFA68.173 billion). This was revealed in the balance of payments and global external position of Togo released by the BCEAO.
The surge was mainly driven by a 39.9% rise in cotton fiber exports, as well as of other agricultural commodities and vegetal food products.
In detail, Togo exported...
The African Development Bank (AfDB) and the European Union (EU) just decided to disburse $22.7 million for the construction of the Abidjan-Lagos corridor. The related financing agreement includes a $10 million grant from the European commission, and was signed last Monday.
The Abidjan-Lagos corridor which passes through Côte d’Ivoire, Ghana, Benin, Togo and Nigeria, will serve local...