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From 2005 to 2013, French budget aid for the WAEMU, under the financing of the Regional Economic Program (PER), exceeded more than €160 million or CFA118 billion. This was disclosed on December 10, 2018, by Badanam Patoki, representative of Togo’s minister of economy and finance, at the opening of a workshop to validate the provisional report on the aid’s evaluation. The workshop is to...
On Monday, the International Monetary Fund (IMF), pleased with Togo’s macroeconomic framework, approved during a board meeting the disbursement of a fourth financing tranche of $34.9 million for the country.
“The program’s return is very satisfying. All quantitative return criteria and three of the five structural benchmarks were met. The assessment’s completion enables the...
Nigerian natural gas supplier Axxela, formerly Oando Gas and Power, will supply Togo via the West African Gas Pipeline (WAGP). The related agreement was recently signed in Accra, Ghana, with the pipeline’s operator, West African Gas Pipeline Company (WAGPCO).
Under the new partnership, Axxela will deliver 15 million standard cubic feet or 425,000 cubic meters of natural gas to Lomé, every...
At the 36th session of administrators of the African School of Architecture and Urbanism (EAMAU) held in Lomé, it was decided that the regional academy would become a specialized integrated institution and a reference across the African Union.
In line with this objective, the centre will get a 12 ha field to build an ultra-modern campus. “We wish to help this institution shine by giving the...
For the last three months of its pilot stage, MIFA wants to speed up the creation of an agricultural insurance firm that will cover 6,000 farmers.
This mechanism, initially launched to push banks to lend more to agricultural value chains, intends to enroll three thousand additional farmers. In the same vein, it plans to boost capacities of all players in the agriculture value...
In Togo, property transfer fee is now fixed at CFA35000 in line with a ministerial decree dated November 20, 2018.
“A flat fee of CFA35000 will be paid for registration, stamp fees and land conservation fees in the event of complete transfers (of property),” said a note released by the ministry of economy and finances.
Previously, the fixed fee were proportional to the property’s...
A few weeks after adopting the bill for creating commercial courts, Togo’s parliament just greenlit their establishment.
The courts’ upcoming establishment is much wished by Sandra Ablamba Johnson, counselor to the President of the Republic and head of the business climate. Indeed, the measure should align with the government’s efforts to improve the country’s business environment. It...
On December 6, 2018, a ministers’ council was held to launch an international tender for capital opening of Togocom. The latter results from the merger between Togo’s landline and mobile telephony leader, TogoCel and Togo Telecom.
Togolese authorities are actually looking for a strategic partner who can meet expectations of the public firm. These include rapidly boosting access to broadband...
Yesterday, Dec 6, Togo’s parliament adopted a law ratifying the creation of the African Continental Free Trade Area (AfCFTA).
Signed in Kigali, Rwanda, during the African Union Heads of State extraordinary summit, the agreement translates the will of 44 African States to “end their balkanization and create a single market that spans from Algiers to Cape Town, and Praia to Djibouti”,...
Last October 12, the government of Togo adopted a cybersecurity bill in a ministers’ council. This bill was passed in parliament yesterday.
In effect, the bill actualizes Togo’s national penal system, by modernizing incrimination under traditional penal rule and restructuring legal tools in line with digital environment standards. The law will “efficiently and effectively take into...
Last Wednesday in Lomé, the 18th general assembly of the association of industrial players of oleaginous sector across the West African Economic and Monetary Union (AIFO-Uemoa) was held. On this occasion, participants discussed new challenges rising due to the “Asian unfair competition” in the regional market.
To tackle this issue, the association’s first vice-chairman also MD of...
In the framework of its Elite BRVM Lounge, the West African stock market will add a second batch of 10 SMEs to the project, after a first batch of 10 firms, including Togolese firm Sodigaz, selected previously.
Presentation ceremony will be held on December 10, in Abidjan, Côte d’Ivoire.
The second batch’s addition is subsequent to a deal signed by BRVM, London Stock Exchange and the...
In Togo, mid-term financial and accounting audit of the 2016-2020 Mining Governance and Development Project (PDGM) will be carried out.
In its notice disclosing the information, the ministry of mining and energy said the audit should consist in getting professional advice relating to PDGM’s financial status at the end of every fiscal year.
The audit will also analyze the project’s financial...
Two years after electronic filling was launched by the Togolese Revenue Office (OTR), the tax institution partnered with Ecobank on December 5, 2018, to initiate pilot phase of online tax payment by big companies. This is a major step towards OTR’s digitalization since electronic filling without online payment is inefficient.
“Electronic tax payment contributes to the modernization of tax...
Under its 2019 State budget, Togo’s government will spend CFA1.5 billion on fertilizer subsidies for farmers, Togo First learnt.
The sum will in effect be managed by the agricultural input management and supply center (CAGIA) and be used to purchase 35,400 tons of fertilizers.
The move should benefit 125,000 vulnerable farmers, authorities promised.
In Africa, Togo is one of the countries...
Togo’s government will rehabilitate the Lomé-Cinkassé-Ouagadougou axis. The project which will ease traffic along the major axis is financed by the African Development Bank (AfDB).
According to a document released by the Togolese ministry of infrastructures and transport, the project involves the construction of three bridges along the corridor. The various bridges will be located in Anié...