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South Korean foundation Saemaul Undong will inject CFA2.7 billion in the agropoles project in Togo. In addition, the Asian foundation will provide technical training to local agricultural actors.
A support convention was recently signed between the foundation and Togo. In this famework, Korean experts started a reference mission this week, going around all 10 agrofood-processing centres of the...
Togo’s Revenue Office (OTR) just launched an online platform where it is possible to file complaints related to land issues.
The platform receives and processes any complaint related to land and cadaster. In effect, complainants fill a form, adding the object of the complaint, phone number, place of residence, etc. OTR’s audit directorate then responds to the complaints within 48...
Orascom, the group owned by Egyptian business mogul Naguib Sawiris, Africa’s richest person according to Forbes, plans to invest in many sub-Saharan African countries including Togo.
To this end, the group intends to use a $170 million financing it obtained from the Africa Export Import Bank (AfreximBank).
Besides Togo, other countries the group plans to expand to include Rwanda,...
During the second half of 2018, Burkina Faso, Benin and India were Togo’s main customers. This is revealed in an economic, financial and social report released by Togo recently.
Data from the report indicates that Togo’s exports to Burkina Faso represented 39.5% of all its exports across the West African Economic and Monetary Union (WAEMU). Exports to Burkina Faso comprised mainly “clinker...
From December 13, 2018, to January 15, 2019, average delay for property transfer in Togo was seven days, from nine days previously, a note from the tax commissioner office reveals.
The delay period starts from submission of transfer demand.
The improvement aligns with the country’s efforts to better its business environment. Actually, other reforms implemented in this framework include:...
The Global Environment Facility (GEF) plans to spend in Togo about CFA614 million, over the next two years, on the project to boost resiliency of coastal populations against climate change.
Announced on January 17, 2019, this project is carried out by the Togolese division of the World Food Program (WFP), and aims to subsequently slow the sea’s progression. To do so, coastal people,...
On Jan 21, 2019, Togo’s revenue office (OTR) will receive the first batch of its special customs intervention unit (USID).
The new task force’s creation aims at improving operational capacities of Togo’s customs services. This first batch regroups 33 civil servants. They followed a nine-week training during which they were taught combat skills, close protection, escorting, and goods...
The West African Development Bank (BOAD) has committed to support the Agricultural Incentive Financing Mechanism (MIFA). The news was disclosed by MIFA’s deputy coordinator for the pilot phase, Aristide Agbossoumonde.
On January 21, 2019, MIFA’s coordination team was at the BOAD’s headquarters to proceed to the project’s presentation. The mechanism aims to boost farmers’ access to bank...
Kya Energy, local firm specialized in producing solar-powered generators, will build five solar academies across Togo. The firm recently secured the related contract.
This project falls under the CIZO, an electrification program funded by the African Development Bank (AfDB) and steered by the Togolese Agency for Rural Electrification and Renewable Energies (AT2ER).
Leveraging its substantial...
In Togo, 25.61% of newly registered firms at the center for business formalities (CFE) last year are owned by women. The number is 2,701 businesses out of 10,545 businesses registered overall.
According to studies from the World Bank on a sample population of 1,500 micro-enterprises in Lomé, it appears that more women who are getting more involved in the private sector are performing...
South Korea will technically and financially support the Kara agopole project (414km North of Lomé). A financing agreement was signed in this framework last Friday, by Sani Yaya, minister of economy and finances, and Tchang Dong-Hee, president of South Korean foundation Saemaul Undong, under the Togo agrofood processing project (PTA-Togo).
Under the deal, the foundation will help boost...
Soon, the mushroom-based drinks made by Togolese entrepreneur Edem Bessanh will be sold in Canada.
We have signed a contract with businessmen and under the deal, our firm, Champiso, will soon be represented as a franchise in Canada, Bessanh told Togo First in an interview.
According to the entrepreneur, detox products are very much appreciated in developed countries, due to their medicinal...
On Thursday January 17, 2019, the Higher Authority for the Prevention and Fight against Corruption and Related Offences (HAPLUCIA) organized an anti-corruption sensitization campaign targeting Togolese private sector actors.
The campaign whose theme was “Contribution of citizens in the fight against corruption and related offences”, aimed at reaffirming Togo’s zero tolerance policy in...
Togo’s government has under the new tax regime, effective since January 1, 2019, raised taxes on some products like alcoholic drinks and tobacco products.
In detail, the new general tax code stipulates that excise duty on alcoholic drinks is 50%. This is 15% more than the tax imposed the year before.
Similarly, tax on tobacco products has been increased to 40%, up 5% compared to...
In Togo, the pineapple sector just received from the European Union a support facility of about CFA4 billion.
The financing is provided in the framework of a project to boost the pineapple industry’s competitiveness. The latter, which is co-financed by the European Fund for Development (EDF) and the German cooperation, was launched this Thursday at Afrik Excel, a pineapple-processing facility...
Togo’s “GDP growth should reach 5% in 2019 and 5.3% in 2020, given that the ongoing political crisis is solved and public and private investments improve”, says the African Development Bank (AfDB) in its 2019 Africa economic outlook report, released January 17.
Regarding the crisis mentioned by the report, it began mid-2017 opposing the actual government by the main opposition coalition...