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This year, the value-added tax (VAT) should yield CFA269 billion in revenues for the Togolese economy. This represents 40% of tax earnings expected throughout the year.
Compared to 2018, this amount is 6% lower than the forecast for VAT revenues. Indeed, the government, in its June 2018 mini-budget expected VAT revenues to stand at CFA286 billion (128 billion for internal VAT and 158 billion for...
German basketry firm Hansen Korbwaren, will help Togo professionalize and improve its skills in this sector. This, it will do under a partnership reached with Togo’s chamber of commerce and industry (CCIT).
“We will provide the Togolese people basketry trainings in order for them to perform this work more professionally,” said Johannes Hansen, who led a delegation from the German company...
Last year, women and young entrepreneurs captured CFA10 billion worth of public procurements. This results from a presidential measure announced in 2018 to provide 20% of all public procurements to this group of individuals.
The figure was disclosed by Victoire Tomégah-Dogbé, who heads the task force in charge of public procurements in Togo.
The amount captured, though substantial, is far...
To raise funds needed for its 2018-2022 National Development Plan’s implementation, Togo signed with Ecobank a partnership agreement.
The agreements were signed by Sani Yaya, Togolese minister of economy and finances, and Ade Ayeyemi, Head of Ecobank Group. Present at the signing were important African financial and diplomatic figures. These include IFAD’s Director General, Gilbert Houngbo,...
Today, President Faure Gnassingbé officially launched the 2018-2022 National Development Plan. Present at the launching ceremony were eminent figures such as IFAD’s President, Gilbert Fossoun Houngbo, Benin’s former Prime Minister, Lionel Zinsou, ETI group’s Managing Director, Ade Ayeyemi, Togolese Economist behind the “Entreprendre à Zéro Franc” concept, Samuel Mathey, and French...
Togo recently received from the German cooperation (KfW) seven million euros (CFA4.6 billion) to improve technical education, as well as youths’ professional training and insertion. The facility aligns with stage III of the Program for Technical and Professional Training, and Youth Employment (PAFPE).
In effect, the monies will be used to modernize many technical and professional training...
This year, Togo’s Revenue Office (OTR) should collect XAF669 billion of tax and customs revenues.
According to Philippe Kokou Tchodié (photo), new general commissioner of the institution, who disclosed the information, major decisions are being taken to this end. Among these are measures to improve OTR’s governance, and better tackle corruption and fraud. Also, tax base will be broadened in...
Togolese are more inclined to trust their savings to a friend or relative, than to traditional financial institutions. This was revealed in the World Bank’s Little Data Book on Financial Inclusion 2018.
According to the report, almost half of Togo’s adult population (45.2%) regularly save on their earnings. However, only 11.8% of these people save at traditional financial institutions...
Togo got five, fully equipped, mobile clinics to improve access to health services for the most vulnerable and isolated populations. The clinics will be deployed across the country’s five regions, one clinic per region.
Respectively, each clinic comes with 4x4 support cars, a lab and a pharmacy, and costs about CFA30 million. They should serve nearly 2,700 villages in the country’s most...
In Togo, SOLEVA, the firm in charge of the CIZO project with BBOXX, will start its activities in the country in Q2 2019, thus initiating its 12-month pilot phase on the project.
In line with its specifications for the contract, SOLEVA and its US partner Greenlight Planet should “sell and distribute at least 300,000 of Greenlight’s Sun King® solar systems in the next five years,...
The WAEMU has developed a program supporting top-class training and research within the community, in line with its human resources development objectives.
For the 2019-2020 edition of this program, WAEMU launched a call for applications to preselect those who will benefit from the support which lasts 12 months. The latter can neither be prolonged, postponed nor renewed.
This year, the...
Agbewonou Darwin Yawovi recently won the 2019 Total Startupper of the Year contest, landing a prize of CFA8.2 million. The youth owes his victory to his project, SOS System which is a rescue app that manages disasters. The app has a geolocalization and alert system.
The second winner is Clifford Plastid Hoglonou whose project is Alcoford Corporation, specialized in bioethanol production. Kodjo...
All rural arable land owned by private entities or individuals must be valorized or they will be trusted to any investor who legally requests to do so.
Last Wednesday, this decision was adopted in a decree passed by the council of ministers held that day. According to the decree, “in the event a land is passed from one owner to another that requested to valorize it, the new owner must use the...
Invited by Chinese e-trade giant Alibaba, 12 officials from Togo’s ministries and institutions will be in Hangzhou in April for a 3-day workshop on digital economy.
Organized by Alibaba Business School, this workshop is part of the tech behemoth’s “New economy workshop” programme. The latter aims to create a global ecosystem enabling populations to fully tap into opportunities available...
Togo’s top 100 most dynamic companies will be revealed next March 16, in Lomé. This will be during the “Gala des 100 entreprises les plus dynamiques du Togo” which will be attended by the country’s best businessmen and women.
The event is organized by Eco Finance Entreprises and the top 100 firms were selected based on four criteria used to conduct a performance assessment.
The...
In Togo, a new version of commerce registry and mobile credit database (RCCM) will be released online by the end of March 2019. This was revealed at a workshop on the platform’s update last January.
The database should help the public freely access reliable information relating to their commercial partners’ legal and financial situation, but also their prior commitments.
In effect, the RCCM...