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In Togo, two commercial courts will be created to appropriately deal with business conflicts.
The related decision was taken during a council of ministers held last Wednesday, a statement released by Foli-Bazi Katari, spokesperson of the government and minister of communication revealed.
The two new courts, the first of which will be in Lomé and the second in Kara (414 km North of Lomé),...
Last Tuesday, the International Fund for Agricultural Development (IFAD) approved the provision of a CFA20 billion financing to Togo, to support its agricultural financing incentive mechanism (MIFA).
The facility will span six years, starting this year and will in detail provide technical support for the development of agro-pastoral value chains and access to market (38% of the financing),...
At end-September 2018, 177 land deeds were fully transferred in Togo. This is according to data from the Office of Cadaster, Land Conservation and Registry (DCCFE).
Compared to the same period in 2017, this number almost doubled from 94 titles processed in about 21 days respectively. Compared to the whole 2017 year, where 127 titles were fully transferred, the figure recorded at the end of the...
Togo’s government has set up a ministerial department that will be in charge of promoting local consumption through products “made in Togo”. The portfolio was assigned to Kodjo Adedze, the newly appointed minister of trade.
Mr. Kodjo who was the former inspector of the Togolese Revenue Office (OTR) will now be responsible for taking concrete actions towards ensuring better growth for...
Launched in May 2018 to boost financial inclusion in Togo and enable the post office to create new growth stations, ECO CPP recorded 100,000 subscriptions in 2018.
According to the ministry of economy, posts and technological innovations, Société des Postes du Togo which initiated the project wants to reach a million subscribers by 2020.
ECO CCP is a free mobile savings account with a 2%...
The BOAD and MIFA’s coordination team will “in the coming days” sign partnership agreements, sources close to the MIFA indicate.
The deals fall in line with support provided by BOAD to the Togolese scheme. In effect, the regional bank should invest €100 million in this project.
In this framework, a guarantee line should be put in place to facilitate farmers’ access to...
At end-September 2018, the number of people that benefited from the services of microfinance structures in Togo stood at 2,483,190, according to data from the Central Bank of West African States (BCEAO). This is 9.5% more compared to the previous year.
Meanwhile, the number of structures operating in the sub-sector was 75 at the end of Q3 2018.
Over the same period, the number of service...
Lomé committed with the IMF to reduce its budget deficit, grants included, to 1.5%. This was revealed in a letter of intention dated November 20, 2018, from Minister Sani Yaya.
“The government has adopted the 2019 finance law which aligns with the global purpose of the ECF-backed program. The new law eyes a maximum budget deficit of 1.5% of GDP, far below the 3% set within the WAEMU,” Sani...
For its second issuance of securities on the UMOA-Titres regional financial market, Togo raised CFA36 billion, over an initial target of CFA20 billion.
Subscription rate for the operation was 180% and the country kept CFA22 billion.
In detail, investors living in Togo subscribed at a level of CFA18 billion (CFA14 billion retained), attesting that the country regained the trust of the local...
Yaovi Sedjro, the young Togolese agripreneur, won last Friday the award of the Best young entrepreneur of 2019 and will represent Togo at the coming CONFEJES’ (Conference of ministers of youth and sports from Francophonie countries) young entrepreneur international contest, next March in Morocco.
The award was given by the ministry of youth, to the best young entrepreneur backed by the Program...
Togo’s port traffic increased by 25% between January and June 2018, a note from the International Monetary Fund (IMF) revealed.
According to the Fund, the increase, paired with good results in the sectors of agriculture (cotton) and mining (phosphate), helped stabilize the country’s economic activity. The latter actually grew 4.7% in 2018.
The Bretton Woods organization expects the...
Togo will, on next February 17, proceed to the semester payment of profits and partially reimburse capital associated to its “2016-2026 6.50% State Sukuk”, BRVM revealed in a statement.
While no detail filtered about the amount of this first partial payment, the notice released by the Joint Fund for Receivables Securization upon the sukuk’s issuance for its part indicates that a...
On Wednesday 23 January, Togo’s Supreme Court started processing all its pending cases. The procedure is to use six months to process 500 cases overall.
These cases cover the 1994-2010 period. The Court will process the cases during extraordinary audiences. This will satisfy tens of complainants who have been waiting for many years for the justice to deliberate on their cases.
While land...
This year, the International Monetary Fund (IMF) could provide Togo three new financing facilities valued at about $35 million each. However, the funds’ disbursement is conditioned by results of ECF-backed three-year program approved in May 2017 for the country, for an amount of nearly $241.5 million, when the agreement was signed.
This program was reviewed three times, enabling...
For the first time in Togo’s history, the national assembly will be presided by a woman: Yawa Tsegan Djigbodi is the new president of this assembly.
She is replacing Dama Dramani, president of the former mandate during which she was the first quaestor.
The ex-tax inspector who has also been the chief of staff of the ministry of transport will have the huge task of leading the...
Togo Revenue Authority (OTR) announced it has just established an electronic database for land titles. The move aligns with a set of reforms deployed to reassure populations and investors, particularly with regard to land tenure in the country.
According to OTR, this tool makes it possible to know, in real time and chronological order, the nature of transaction/operation carried out on a land...