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On April 11, 2019, the World Bank announced a new plan to invest $15 billion in human capital in Africa, between 2021 and 2023. This was in Washington, during a panel themed “Developing human capital in Africa: Shaping a generation’s future.” Participants present included Hafez Ghanem, World Bank’s Vice President for Africa, Letsie III, King of Lesotho, Paula Ingabire, Rwanda’s...
Togo has just received a $4.5 million grant from the European Union (EU). The related agreement was signed last Friday in Washington, between the World Bank and a Togolese delegation.
The Togolese delegation was led by Sani Yaya, minister of economy and finances, and Tignokpa Demba, minister of planning and development while the World Bank was represented by its representative in Togo, Hawa...
Togolese nationals living outside the country sent home more than $500 million in 2018. This is revealed in the latest update of the World Bank on remittances.
In Africa, Togo is the tenth in terms of remittances and this ranking is far dominated by Nigeria. According to the Bretton Woods institution, the remittances sent by Togolese represent 8.5% of the country’s GDP, the strongest...
Between 2013 and 2017, the volume of Twenty-Foot Equivalent Unit (TEU) containers handled at the Port of Lomé, has tripled from 311,470 to 1,193,841.
Dominique Chantrel, who is in charge of managing the UNCTAD’s port programme, declared during a coordination meeting for the TrainForTrade : “The economic development of the Port of Lomé is so significant and has made this infrastructure...
The government plans to soon launch a campaign to identify all agricultural lands in Togo. This was disclosed yesterday, on the first day of the 11th National Farmer Forum in Kara, by Noël Bataka, minister of agriculture.
The move aligns with a decree passed last Feb. 27th, forcing all rural land owners to valorize their property or have it transferred to any person interested in doing so and...
As announced earlier, the 11th edition of the Togolese Farmer Forum (FNPT) was launched yesterday at the Palais des Congrès of Kara, by Noël Bataka, minister of agriculture, fishery and animal production. “As we start this forum, opportunities and exchanges are the two main subjects," the official said.
“We talk of opportunities because the agricultural sector will be presented in its...
It’s official. Coralie Gevers, former chief of the World Bank’s operations in Mongolia and active in Madagascar and the Comoros since 2014, is the new chief of operations of the institution in Togo.
She replaces Pierre Laporte who oversaw the bank’s operations in Togo, Côte d’Ivoire, Benin, Burkina Faso and Guinea.
Gevers, a Belgian economist, joined the World Bank in 1996, holding...
On the sidelines of the World Bank’s annual assembly, the Bretton Woods institution committed to support Togo’s National Development Plan (2018-2022 PND). This is after meeting a delegation from the West African country asking the institution to increase its financing for Togo.
Representing Togo at the meeting was the minister of finances, Sani Yaya, and head of development planning, Demba...
Feasibility studies for the Abidjan-Lagos road corridor project has begun.
Related contracts for the studies, environmental and technical, are already signed, reliable sources indicate.
An execution team was set to steer the project and monitor the ongoing studies. This cell will communicate details about progress made to the ECOWAS Commission, as the project goes on.
While $22 million...
HeidelbergCement, world’s second largest cement maker, plans to invest €25 million in its Togolese subsidiaries, Cimtogo, Scantogo and Granutogo.
At a meeting with the press last Friday, Eric Goulignac, local MD for the firm, discussed projects planned by HeidelbergCement to support the national development plan (2018-2022 PND) whose second axis focuses on the extractive sector.
At the...
Leveraging a successful bond issuance recorded last Friday, Togo seeks to raise a total of CFA95 billion on UMOA securities market during five more operations it plans this quarter.
In detail, according to the UMOA-securities debt planning agency, the country will seek CFA40 billion on the regional market, via two fungible treasury bills issuances. The two operations are set for April 19 and...
The Togolese government intends to, by 2040, triple freight to landlocked countries to which it has access by building a dry port in Cinkassé, in the Savanes region. From 3.786 million tons now, this volume should stand at 10.230 million in line with the authorities’ target.
The port will be built over a 100-hectare property. It will help containerize and strengthen transport corridor between...
The High Authority for Audiovisual and Communication (HAAC) just adopted a strategic action plan covering the 2019-2023 period.
To carry out this plan, the media regulatory organ should raise CFA3.5 billion. PNUD’s representation which helped draw the plan said it will support.
According to Maurille Agbokou, Advisor on the project, funds alone are not enough to facilitate the plan’s...
“Digital transformation has the potential of unlocking new pathways for inclusive growth and creating jobs in Africa…Yet, access to the internet remains unattainable for most people in the region, which requires investment to be made in infrastructure and youth education,” the World Bank said in the latest edition of its Africa’s Pulse report.
“The digital transformation can increase...
Last Friday, Togo raised CFA77 billion on the UMOA-securities regional market, through a fungible Treasury bond issuance. This operation, the first for this second quarter, initially had a target of CFA20 billion, and was thus oversubscribed by 386%.
This outstanding performance follows another at the close of Q1 2019 where Togo raised CFA22 billion against an initial target of CFA20...
Téolis, the internet service provider (ISP) which recently entered the Togolese market announced that it would open up its capital only under certain conditions.
“We are willing to open our capital. It is not closed. However, for now what we are looking for are real partners, who bring to the table more than just money. We are looking for a partner with expertise,” a global network,...