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Last week, Togo’s minister of agriculture, Noel Bataka, launched a game-like app that teaches its users good farming practices. SimulAgri Togo is the name of this app which for the moment focuses on the vegetable, cocoa and rice sectors.
On one hand, this tool, developed by Simulgames aims at providing farmers information that can help boost their income, yield and yield quality. On...
India’s National Thermal Power Corporation (NTPC) was recently chosen by Togo as a consultant on a 300 MW solar project.
Under this project, solar mini-grids will be developed. These will add to the country’s current four which are respectively located in Takpapieni in the Savanes region (100 Kwc), Kountoum in the Kara region (100 Kwc), Assoukoko in the central region (250 Kwc), and...
The PNUD has granted $286,000 to nine Togolese civil society organizations (CSO) to protect the environment and fight climate change. The related agreement was signed yesterday in Lomé, by Aliou Dia, Resident-Coordinator for PNUD Togo, and the heads of the nine organizations, in the presence of Togo’s minister of environment and forest resources. Koffi Dimizou.
The monies were...
The Economic Community of West African States’ (ECOWAS) Commission plans to open in Lomé a center to train its staff. The related communiqué was released by the Commission on February 3, 2020.
“Centralizing training will give the staff members the chance to acquire technical skills and capacities needed to do their work at the ECOWAS,” said Prof. Dias Jeremias Furtado, human...
Africa Lease Togo (ALT), which entered the Togolese market in the last quarter of 2019, has raised its capital to XOF3.5 billion, from XOF3.1 billion.
The decision was taken during an extraordinary general assembly of the subsidiary of the Danish company.
The capital was raised by issuing 350,000 fully paid-up shares with a nominal value of XOF10,000 per unit. The operation aims at...
From 2015 to 2018, the completion rate of primary school in Togo grew from 83% to 89%. According to the World Bank which disclosed the figures, the country is the best performer in the WAEMU over the period concerned.
In 2017, Togo was ahead of Cote d'Ivoire (71.6%), Burkina Faso (65%), Senegal (57%), and Mali (49.6%). Two years before, the country came before Benin (81%), Burkina Faso...
In Togo, the posts and telecommunications regulatory authority, ARCEP, will soon open its own call center.
This center, ARCEP said in a statement, will allow every citizen to get information on the telecommunications and posts sectors. They will also be able to submit complaints against some operators, as well as report issues regarding their networks, or even make recommendations to the...
This year, BOA Togo intends to raise its loans to the agricultural sector, bringing it to XOF7 billion. The move falls in line with the bank’s partnership with the Incentive Mechanism for Agricultural Financing (MIFA). It was announced last month, during the 12th national forum for Togolese farmers (FNPT), held in Kara.
“We have received the authorization to spend a total of XOF7 billion of...
Through the fund of Autonomous Company for Road Maintenance Financing (SAFER), the government of Togo plans to proceed to the maintenance of more than 340km of roads.
The works will be done on the National Road N°1 in Lomé, Togblekopé, Tsévié, Notsé, Atakpamé and Aouda, Sokodé, Kara and Kanté. They will include major and minor rehabilitation, as well as resurfacing.
In detail,...
The government of Togo plans to raise a total of CFA420 billion on the regional financial market to finance its 2020 budget, UMOA-Titres reports in its 2020 securities issue calendar. According to the document, Togo is set to raise CFA150 billion in the first quarter, split into CFA125 billion fungible treasury bonds (OATs) and CFA25 billion treasury bills (BATs).
In the 2nd quarter, the country...
The Agricultural Financing Incentive Mechanism based on risk-sharing (MIFA SA) will benefit from financing to the tune of XAF7.5 billion to support the development of SME/SMIs in agricultural value chains.
A memorandum, in that regard, was signed earlier this week by Hussain Jasim Al-Nowais, CEO of the Khalifa Fund, and Sani Yaya, Minister of Economy and Finance, representing Togo, during a...
CimMetalgroup, owned by Burkinabe mogul Inoussa Kanazoé, could spend around XOF100 billion (€152.4 million) in Togo’s cement and iron sectors. According to Jeune Afrique, the group inked an agreement last month to build an industrial complex in the country.
It was allowed to fund iron and cement factories in Togo. However, the two parties disclosed no detail on the matter. Still, if...
SMEs and SMIs in Togo currently need XOF1,000 billion of investments. This was revealed by a recent survey carried out in the framework of the creation of an investment-guarantee fund for SMEs and SMIs. The latter was ordered by Togo’s Chamber of Trade and Industry and the European Union delegation.
Overall, the funds are needed by around 4,000 companies which total a combined turnover...
Construction works for the 30MW photovoltaic power plant in Blitta (Central Togo), were officially launched on February 3, by President Faure Gnassingbé.
The project, which costs $35 million, is partially financed by the Abu Dhabi Fund for Development and the BOAD. AMEA Togo Solar, the local subsidiary of Emirati company AMEA Power, will set up and run the plant, under a 25-year...
Between 2005 and now, tax and customs earnings have almost quadrupled - a performance which was driven by the merging of both authorities managing these revenues.
Indeed, in 2005, tax and customs income were at XOF162 billion. However, they grew steadily - by 10% average per year - to reach XOF624 billion last year. This made Togo the only WAEMU state to reach a tax to GDP ratio of more...
For its last operation on the UMOA-titres market, and the second this year, Togo recorded a subscription rate of 296%. For this transaction, Lomé issued fungible treasury bonds.
This subscription rate corresponds to about XOF75 billion, which is almost thrice the amount sought. However, the Togolese treasury will retain only XOF27.5 billion which will serve to plug budget gaps in...