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The Togolese ministry of trade and the International Federation of Consular Chambers for Africa (FICA) are seeking 100 Togolese SMEs and SMIs that will enter the Asian market.
From June 30, the deadline to apply to the program was pushed to July 31 to allow as many firms as possible to submit their applications since only 30 businesses were registered at the time the initial deadline was...
Lomé-based banking group Ecobank recently rolled out its “Zero Malaria Business Leadership” initiative. The program, launched with the collaboration of Speak Up Africa and the Partenariat RBM, aims, as its name suggests, at eradicating malaria.
The program implemented in 30 African countries will push decision-makers to increase financing and take stronger and better-targeted actions...
In the past 10 days, 74 new Covid-19 cases were recorded. This is almost twice the number (39) recorded 10 days before, according to the head of the national team coordinating the response against the pandemic, the CNGR.
The rapid increase is due to travelers’ movements and the existence of outbreak foci, such as a company located in the Lomé duty-free zone where about 20 cases...
In Togo, the University of Lomé (U.L) will begin human trials for local drugs made to fight the covid-19 virus on September 1, 2020.
The news, which was relayed in a tweet by Le Temple du Savoir comes after the university proceeded to “in-vitro and in-vivo trials on animals.”
The move to human trials is a significant milestone in the university’s commitment to driving out the...
The BSIC bank launched a call for projects to support SME-SMIs and micro-enterprises in making equipment or tools to fight the coronavirus.
The call targets young entrepreneurs operating in any of the 14 countries - Togo included - where the bank is established. In each country, two selected projects will be financed with €35,000 (+XOF22,000,000) per project.
Thus, the...
The coronavirus-induced recession that the International Monetary Fund (IMF) expects to hit the sub-Saharan Africa region could be far worse than it has foreseen.
Indeed, according to the body, the pandemic could cause the region’s earnings to fall back to the same levels they were a decade ago. From a 1.6% contraction forecast in April, the IMF now expects the SSA economy to shrink by...
Launched in June 2018 by President Faure Gnassingbé, the Agriculture Incentive Financing Mechanism (MIFA) which is based on risk-sharing, celebrated last week its second anniversary.
Over the period, the MIFA, which is inspired by the NIRSAL in Nigeria, helped distribute more than XOF14 billion to 144,000 actors of the Togolese agricultural sector, of which 125,000 are farmers. This was...
The Togolese public treasury seeks XOF30 billion on the regional financial market. This is the country’s first operation on this market this semester.
Lomé has, in this framework, launched simultaneously two bond issuances with respective maturity periods of 3 and 5 years. While the bonds for both operations have a nominal value of XOF10,000 per unit, interest rates for the issuances...
In the past few days, many have been wondering about the privatization of the Nouvelle Société Cotonnière du Togo (NSCT). Talks between the Singaporean group Olam and the State are underway and if conclusive, the Asian firm could secure part or all of the latter’s stake in the public company. The privatization was approved on Monday by the parliament.
Concerns about the...
Yesterday, France and Togo signed an agreement under which the former will provide the latter XOF2 billion (€3 million) for its Novissi scheme. The document was signed by the Togolese minister of economy and finance, Sani Yaya, France’s ambassador to Togo, Marc Vizy, and the head of the French Development Agency (AFD).
The Novissi scheme is an initiative launched by the State to help...
At the beginning of April this year, Togo announced it would mobilize XOF400 billion to deal with the economic repercussions of the covid-19.
Out of this sum, XOF200 billion has been secured so far. The figure was disclosed by Ekpao Adjabo, director-general of the public treasury and accountability. He did so on the sidelines of a meeting between Togolese officials and AfDB executives to...
African countries are making a lot of progress regarding the fight against tax fraud and money laundering. This is revealed in findings from the latest Tax Transparency in Africa report released by the Africa Initiative. The document features 32 African member States of the Global Forum on Transparency and Exchange of Information for Tax Purposes and three non-members.
The document shows...
Yesterday, June 29, the Togolese parliament greenlit the bill approving the privatization of the Nouvelle Société Cotonnière du Togo (NSCT).
With this milestone reached, talks with Singapore-based Olam group which eyes the State’s shares should soon begin. The private company could secure up to 51%, if not all, of the State’s 60% stake in the NSCT - the remaining 40% being detained...
As part of major infrastructure projects underway or already carried out in Togo, the government plans to build or rehabilitate 400 km of roads and 4,000 km of rural tracks.
This should make communities affected more accessible and contribute to their development.
By 2025, Togolese authorities hope to have 60% of roads across the country asphalted. This will be done through...
In Togo, quarantined repatriated citizens will have to pay XOF500,000, against XOF700,000 previously, to the State upon their return.
The government, therefore, takes care of the XOF200,000 difference during the 14-day period during which the returnees will be quarantined. The information was disclosed in a notice issued by the national team in charge of the covid-19 response on June 26,...
The State will give up its 40% shares in the Nouvelle Société Cotonnière du Togo (NSCT). The government adopted in this framework a bill to transfer the stake to the private sector, in full, if an interested investor is found, or in part.
For the moment, the other stakeholder of the NSCT is the national federation of cotton farmers (FNGPC) which holds 60% of the firm.
Let it be noted...