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The Regional Stock Exchange (BRVM) signed January 10, 2019, with the International Finance Corporation (IFC), World Bank’s private sector arm, a cooperation agreement on the corporate governance code.
The goal is to “enable BRVM-listed companies to be more efficient, competitive and productive to ensure a climate of trust vis-à-vis investors,” Dr Edoh Kossi Amenounve, BRVM’s Managing...
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Initially aiming at raising XOF20 billion to fund the 2019 state budget, Togo’s Treasury ended up mobilizing XOF18.625 billion, the results of its first operation on the regional financial market showed January 10, 2019. Of this amount the government will however only collect XOF13.625 billion.
The poor performance, though the market seems favorable, comes just after the country closed the...
Six months only after it was launched, the agricultural financing incentive mechanism (MIFA) provided a little over CFA1 billion worth of loans to a total of 5,062 farmers, including 916 women. This is 84% of the number (6,000 farmers) initially aimed at, for the period.
Besides, nearly 12,000 producers were impacted via direct loans and others from aggregators. Also, 4,948 producers, of which...
Construction works for Togo’s new fishing port are 93% complete. This was disclosed on the sidelines of a field visit to the project’s site last Tuesday by a delegation led by ministers of infrastructures and fishery, Ninsao Gnofam and Ouro-Koura Agadazi.
The port whose construction began in August 2017 is expected to be delivered next month. It was co-financed by the Japan International...
On Thursday, January 10, 2019, the West African Economic and Monetary Union (WAEMU) will celebrate its 25th anniversary at its headquarters, in Ouagadougou.
The official celebration ceremony will take place at the Centre International de Conférences de Ouaga 2000, in the presence of Ivorian president, Alassane Dramane Ouattara, also president of the WAEMU’s Heads of State and Governments...
On Monday 7th January, a five-day training workshop on ways to fight money laundering and terrorism financing commenced. The session is taking place at the Centre de formation des professions de Justice (CFPJ) in Lomé.
Gathered at the meeting are magistrates as well as top members of the police and army. They will be taught how to better fight money laundering and terrorism financing by...
On Sunday, January 6, a new terminal opened at the Abuja Nnamdi Azikiwe international airport. Asky, the Lomé-based pan-African airlines was one of the first airlines to use the terminal.
The airlines transported from Lomé 91 passengers who landed at the terminal, according to a tweet from the Federal Airports Authority of Nigeria (FAAN), Nigeria’s airports management authority.
The...
Togo’s post company (SPT) just launched E-Colis, a service that allows its clients to directly order and receive packages from Europe, within the Schengen area to be exact.
With the service, SPT’s customers can purchase any item on any European e-commerce website. It is cost-effective as packages, if many, are not sent separately but regrouped, and international delivery fees are...
The national agency for the promotion and financing guarantee of SMEs/SMIs (ANPGF) in partnership with Togo’s chamber of commerce and industry (CCIT) is organizing a new edition of its “Mercredi de l’Entrepreneur” program, a program dedicated to young entrepreneurs.
During the program which will be held on January 9, 2019, various niches of opportunities for businesses relating to the...
Togo’s Post Company (SPT) plans to develop a geolocation addressing system using three words from the dictionary, based on a technology of British startup What3Words.
First steps to use the technology are expected to be taken this beginning of the year, according to the ministry of posts and digital economy. This technology let’s recall is already being used by posts in Nigeria, Côte...
Under its bond issuance scheduled for 2019, Togo will try on January 10 to raise 20 billion CFA. This will be done by issuing fungible treasury bonds and bills, at a unit value of CFA1 million.
Under terms and conditions released by UMOA-Titres regional agency, in line with Togo’s general directorate of treasury and public accountability, the issuance aims at mobilizing funds from individuals...
The Tony Elumelu Foundation recently opened applications to the new edition of its Entrepreneurship Programme. With a budget of $100 million, this program targets young Africans with business projects or entrepreneurs who have been in business for at least three years.
Selected participants will get a seed funding of $5,000 and will be provided training in business management,...
Last Friday, Togo officially received almost 5,000 tons of rice from the Japanese government. The shipment which arrived at the Port of Lomé on December 31, 2018, falls under bilateral cooperation between Japan and Togo, and specifically in line with the Kennedy Round project.
The latter enables developing nations that face food shortages to get agricultural input and supplies, namely cereals...
On January 4, 2019, Prime Minister Komi Selom Klassou, stepped down from office.
The move takes place, as constitution requires, after the legislative elections which were held last December 20 and whose final results were released December 31 by the constitutional court.
Pending the appointment of a new Prime Minister, Komi Selom Klassou will remain at his position as acting PM. Before he came...
This year, Togo’s public treasury seeks CFA390 billion of the regional stock market. This is out of the 2,778 billion the stock plans to issue, according to a note released by the UMOA Securities Agency for its investors.
In detail, Togo should raise in the first quarter of the year CFA95 billion, up CFA5 billion compared to the previous year. Together, all WAEMU States should over the period...