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The Togolese Fund for Support to Youth-led Economic Initiatives (FAIEJ) launched on June 23, 2020, a digital financing platform for young entrepreneurs.
The platform, which was developed by incubator Nunyalab, is aimed at helping entrepreneurs who have liquidity issues get loans from the FAIEJ’s partnering financial institutions. The facilities will be repayable over 12 months, according...
For the 2020-2021 agricultural campaign, Togo mobilized 120,000 tons of fertilizer, according to a recent note published by the ministry of agriculture and husbandry.
This volume breaks into 40,000 tons of urea, 80,000 t of NPK15-15-15, and organic fertilizers. The country, it should be noted, uses an average of 61,000 t of fertilizer per annum, according to data obtained by...
In Togo, the ministry of agriculture has launched an e-learning platform offering courses on agriculture, husbandry, and fishery.
The platform is accessible to students, farmers, or anyone interested in these sectors. It is hosted on the ministry’s virtual business incubator.
The users of the platform can also learn about incubation and certification, or even how to apply for...
Twenty-six million dollars. That is how much Togo should save due to the World Bank’s recent decision to suspend the payment of its debt till the end of this year. The sum represents 0.5% of the country’s GDP.
The debt moratorium was granted in the framework of the World Bank’s Debt Service Suspension Initiative (DSSI). The latter was launched in response to the Covid-19 crisis and...
The German cooperation and sustainable development body, GIZ, has launched in Togo a call for expression of interest to hire various firms to carry out various projects. The call will close on July 13, 2020.
The firms concerned include hospitality services (with whom GIZ will build new partnerships), travel agencies (to supply plane tickets), insurance companies (to provide health...
In Togo, the National Fund for Inclusive Finance (FNFI) is putting in place mechanisms to support its partnering microfinance institutions amidst the Covid-19 crisis.
Among others, the Fund will exceptionally add bonuses on the financing it provides to the institutions, in addition to partly covering interests on loans they have taken, cutting down these interest rates by 1 percentage...
Cinetpay, an Ivorian startup specialized in the development of e-payment solutions, announced it has officially set an office in Lomé, Togo. The move falls under the firm’s current expansion strategy.
The startup’s founders Idriss Marcial Monthe and Daniel Dindji said “Cinetpay is an all-in-one solution that gives business owners a rapid, and safe, access to the mobile money...
The Central Bank of West African States (BCEAO) started yesterday a series of webinars to boost capacities and support of banks across the WAEMU, amidst the Covid-19 crisis. The initiative was launched in partnership with HEC Paris.
The webinars are in effect run by the West African Centre for Bank Studies and Training (COFEB), which is under the BCEAO’s umbrella.
Present at the launch...
A few days after it was stopped following the easing of anti-covid restrictive measures, the Novissi cash transfer scheme is back even if it will no more be the same.
Indeed, the government revealed that the program has been amended for better adaptation to the national response strategy to the pandemic. The revised Novissi will focus on specific parts of the country, based on expressed...
The government of Togo plans on recruiting 15 local, regional, and international expert cabinets to support bearers of projects that were approved to be bankable during the Togo-EU economic forum (FETUE) that took place last year.
The move, announced yesterday, aligns with the authorities’ commitment to helping young and female entrepreneurs in their business endeavours, especially those...
Togo’s National Committee for Transport Facilitation (CNF) will soon have its website. The platform’s development is steered by the ministry for development planning and cooperation.
Funds to carry out the project are part of a facility allocated to a programme that aims to make trade logistics services more competitive.
In detail, the project involves the creation of the web,...
Pan-African banking group Ecobank and the development agency of the African Union (AUDA-NEPAD) plans to support, post-covid-19, 100,000 African micro, small, and medium enterprises (MSMEs)
The two parties highlighted that by 2021, they will provide resources to guarantee existing jobs and create new ones across the continent. They will also make MSMEs more resilient and improve their access to...
In Togo, the poultry industry could create around 150,000 new jobs by 2025. The estimate released by the ministry of animal production is ten times more than the jobs the sector currently accounts for.
Nonetheless, the projection is likely to become a reality only if “local poultry is sold more” across the country. Also, importers should purchase more local products.
Indeed,...
Last month, Togo raised around €150 million (nearly XOF100 billion) in loans on the international market.
The operation was arranged by Société Générale and was fully insured by the African trade Insurance Organization, ATI (which Togo adhered to early this year).
According to the Togolese ministry of finance and economy, this operation “is proof of Togo’s...
From now till September, businesses can get a postal address for 60% less than the usual cost.
The promotion, which is run by the Togolese Post Company (SPT), targets mainly one-man businesses, limited liability companies (LLCs), SMEs, and SMIs, as well as liberal professions. They can thus get a mailing address for XOF24,000, valid for a year.
Through the move, the SPT also hopes...
EBOMAF’s subsidiary in Togo has been put in charge of the Lomé-Kpalimé road modernization project announced recently by the minister of transport, Zouréhatou Kassah-Traoré. This was disclosed on the website of the construction firm.
The works, officially launched on June 17, also include the rehabilitation of roads in Kpalimé. However, let it be emphasized that the modernization of...