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On the sidelines of its fifth anniversary, the National Fund for Inclusive Finance unveiled new products it will be offering. These include a solution to directly refinancing beneficiaries reaching out to financial partners and another to help beneficiaries formalize (PAF).
The two products were launched in Kara last Saturday during a ceremony presided by Togo’s head of State, Faure...
Almost a million beneficiaries. That is the number of people that received BBOXX solar kits worldwide so far.
The British firm indeed declared: “To date, we have provided clean, cheap and reliable electricity to about a million people.” Africa is the greatest beneficiary since it has the highest demand for BBOXX’s products.
BBOXX on the continent operates in Rwanda (its largest market),...
In Togo, 85% of LLCs created in 2018 were under a private deed, meaning involving no notarial deed. This equals 2,200 companies over a total of 2,587, the rest having been established with a notarial deed.
This data comes from the Centre for Business Formalities (CFE) and reflects the multiple reforms initiated by the government in the recent years to improve business formalization.
More...
Today as announced earlier, the special Invest in Togo session dedicated to the PND’s promotion in Kigali opened, chaired by the Togolese president.
Hosting the session are President Gnassingbé himself, Sani Yaya, his minister of finance, Gregory Krief, Managing director MSC Togo and the Lomé Container Terminal (LCT), and Frederic Dovi-Akué, MD Do Pharma SA.
“65% of funds needed for...
After rising in the previously released Doing Business 2019, Togo now aims to be among the top 100 of the global ranking in the next release. To this end, it implemented various reforms focusing on key indicators.
There is for example the execution of commercial contracts to ease access to allow business owners to access commercial courts more easily. The information was disclosed by the...
The government of Togo has opened a single desk to handle land-related operations. The decree creating this desk was adopted last Wednesday in a council of ministers.
The Single Land Desk (GFU in French) as it is named “aims at simplifying and accelerating procedures to land deeds.” It regroups representatives from all administrations involved in processes of submission and collection of...
Togo’s government recently amended its regional chambers of agriculture, local institutions in charge of representing and promoting this sector.
For instance, every member of the regional chamber will be paying a membership fee. Also, the Bureau national des chambres régionales d’agriculture (BN-CRA), which oversees all the chambers, is now the Permanent Council of Agricultural...
In the West African Economic and Monetary Union (WAEMU), Togo had the second highest rate of bancarization, 27%, in 2017. The information is disclosed in the BCEAO’s latest financial inclusion report.
According to the document, Benin was the union’s most bancarized nation over the period reviewed, ahead of Togo, Burkina Faso (22.2), Senegal (19.6%) and Côte d’Ivoire (16.6%).
On a...
More than six out of 10 Togolese believe that the weather has worsened in the past ten years, in regard to agricultural production. This was revealed in the latest survey of Afrobaromètre released February 28th.
This opinion is even more shared among farmers (72% of surveyed). Farmers in the Savanes region appear to be the most hit by the bad weather, according to the survey (83% of the...
In N’Kâlo’s latest report on the cashew market, it was revealed that Togo exported 267 tons of cashew nuts to the European Union in 2018. This is against 118 tons in 2017 (+128%).
Going further back, Togo had exported 190 tons of the nuts to the Union, the report indicates.
While volumes sent to the Old Continent are on the rise, those headed to the US have fallen. From 2017 to 2018, they...
The West African Development Bank (BOAD) will invest XOF25 billion in the construction of the Kekeli Efficient Power thermal plant.
Indeed, the institution’s board during a recent meeting in Dakar approved the investment for this project which has been trusted to Eranove under a 25-year concession agreement.
The plant, the second after Lomé’s which was built by Contour Global, will...
Once again, Togo’s capital maintains its rank of the 29th city with highest quality of life in Africa in Mercer’s 2019 index. In the index, Lomé is thus ahead of Abidjan, Addis-Ababa, Lagos, Abuja and Antananarivo.
Within the WAEMU, it is the third town behind Dakar and Cotonou that are respectively the 12th and 19th in Africa.
In the index, both at the African and...
Togo’s Business Climate Unit (CCA) met the media on March 15 to present new reforms set up to improve the country’s business environment and give participants tools to better inform the public as well. “This series of reforms requires more commitment from sector players and more media monitoring by you (media professionals) to enable our citizens to benefit from the reforms,” said Sandra...
Togolese government plans to reach up to 4 million vulnerable farmers and users with its Agri-Pme scheme by 2030, sources at the digital economy department said.
Seen as an ‘e-wallet’, this system launched in 2016 enables any vulnerable farmer to directly get subsidized fertilizers without any middleman. “The initiative focuses on supporting farmers and integrating them into the...
Togo launches water infrastructure counting operation to identify regions with no clean water access
Togo is currently conducting a stocktaking operation to count the water wells and the mini-water supply pipelines in rural and semi-urban areas, an official statement reveals.
In the framework of that operation, the water ministry’s agents will be sent to all the prefectures for work meetings with the authorities of those areas.
Launched on March 4, 2019, by the ministry of water and rural...
In Togo, fuel prices at pumps have slightly risen in the wake of rising prices of oil barrels on the eve of a crucial OPEC meeting in Bakou, Azerbaïdjan.
On average, these pump prices rose by 2-3% (15 to 18 CFA Francs).
As of today March 19, 2019, the price of super unleaded rose by 16 FCFA to be 564 FCFA. Kerosene is now 505 FCFA and the two-stroke oil mixture is 661 FCFA. For gasoline, it...