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The third meeting of the joint ministerial commission for cooperation between Togo and Burkina Faso has been concluded today October 9, 2019, in Lomé, Togo. This 2-day meeting was co-presided by Demba Tignokpa (photo, at the right side), Togolese minister of planning and cooperation, and Alpha Barry (photo at the center), Burkina Faso’s minister of foreign affairs and cooperation. During the...
BOAD finances Togo’s Agricultural Development Support Project (PADAT) under which more than 162 km of roads will be built or rehabilitated in the Kara and Savanes regions.
In detail, respectively 84 km of access routes and 78 km of service routes will be built or rehabilitated in the two regions.
The service routes are located in four prefectures, namely Tône, Tandjoare, Kpendjal, and...
Togo’s Chamber of Commerce and Industry (CCIT) has created, with various partners, the Accredited Management Center (CGA) which helps businesses with a turnover of less than XOF100 million to efficiently manage their accountability, taxes, and elaboration of financial statements.
The firms will in turn pay the institution a percentage of their turnover every month.
"Monthly...
In its latest annual report on fighting money laundering and terrorism funding, released last week, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) lauded Togo for its improvements in this area.
The country has "demonstrated more commitment than in the past relative to the implementation of anti-money laundering and terrorism funding policies that...
Standard & Poors has affirmed its B-/B long and short-term issuer credit ratings on Lomé-based Ecobank Transnational Incorporated (ETI) with a stable outlook. The rating agency issued a B/B ratings to the group's Nigerian subsidiary with a stable outlook as well.
According to S&P, the rating takes into account the group's strong presence in Africa, paired with efforts of its new...
For the first half of 2019, the proportion of loans to agriculture by banks represented only 0.2% of the institutions' overall lending to the economy over the period. This is in a context where this sector contributes 40% of Togo's GDP and employs 60% of its population, worried Demba Tignokpa, the minister of development planning.
Banks' lending to agriculture thus is at the same level as...
In Togo, the nine most profitable agricultural sub-sectors for the youth are pineapple, beekeeping, aquaculture, shea, sesame, soybeans, mushrooms, fonio, and vegetables.
This was revealed during a meeting that regrouped representatives of the World Bank, GIZ, NGOs, Togolese authorities and agricultural actors last Thursday. It was a workshop held to validate a preliminary study to...
In Togo, while the growth forecast had been scaled up by the IMF twice this year, the banking sector has contributed very little to this situation. This is one of the reflections that emerged from the recent 3rd national council on credit (CNC).
Further marking the paradox is the country's controlled inflation and budget deficit which meets regional standards.
Though not all gloomy, this...
Last Friday, Togo successfully proceeded to its first issuance on the regional debt market for this quarter. The country which sought XOF20 billion through the operation was able to mobilize more than XOF47 billion, which represents a coverage rate of almost 237%.
However, according to the UMOA-securities agency, Togo's public treasury will retain only XOF22 billion in line with its...
Danish lease firm, African Lease and Trade, obtained last August 16th the approval to operate in Togo.
Last Thursday, during the third national council on credit, Togo's minister of development planning and cooperation indicated that the firm is "allowed to carry out leasing, payment and factoring transactions."
Situated in Lomé, African Lease Togo is tasked with increasing...
From 2014 to 2019, the proportion of Togolese of more than 15 years old having an account at a bank, a microfinance institution and postal services (such as Eco CCP) soared by 24%, from 50% to 74%. This was disclosed last Thursday by Demba Tignokpa, the minister of planning, at the third session of the National Council of Credit (CNC).
The increase was spurred by dynamism in the...
At the penultimate stage of the EDF Pulse Africa Tour hosted in Lomé last Tuesday, Energy Cycle was selected to represent Togo at the finals of the EDF Pulse Africa contest.
The startup, founded by Adakpo Boutamekpo, was running against four other local startups for the position. The jury which selected Energy Cycle was composed of Astria Fataki, chairman of Energy Generation, Marc Vizy,...
The World Health Organization (WHO) is currently holding in Lomé a four-day workshop for public health officers from Benin, Cameroon, Guinea, Mali, and Togo. The experts will be taught how to assess monies spent on health by populations, by using the most recent data.
In detail, participants will learn about ways to estimate indicators of financial protection in the health sectors,...
Worldwide, Togo recorded the highest proportion of female inventors who applied for a patent between 1998 and 2017, 57.14% exactly. This was revealed in a recent study from the UK's intellectual property office.
The study which assessed 120 countries explored gender profiles in worldwide patenting.
After Togo follows Uganda where the proportion of female inventors in patent...
The US embassy in Togo has recently granted XOF35.2 million to seventeen community groups and associations in the country. This is under its Self-Help program to encourage local populations and improve their living standards.
With the facility, these organizations will launch income-generating projects, agricultural transformation projects, acquire equipment for schools, or help the...
Yesterday in Lomé, the first stage of a battery of training workshops dedicated to financial inclusion that will be organized over the whole country was launched.
This was done by Prince-Agbodjan, representative of Mazamesso Assih, State Secretary in charge of financial inclusion and the informal sector. On the occasion, he said the training is essential to teach Togolese how to manage...