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During the ministers council held November 8, 2018, President Faure Gnassingbé urged his administration to maintain its dynamic reforms to pass the 100th rank of the Doing Business. This is as the country, in this year’s edition of the global ranking, saw its ranking improve (from 156th last year to 137th).
In the long term, the country aims to have one of the best business environments, if...
Last Tuesday, Paykap, mobile money transfer and e-payment solution behind Fricacoin, Africa’s first cryptocurrency, signed various partnership agreements with some ten local microfinance institutions, thus entering the Togolese market.
Under the agreements, the fintech which operates only in Cameroon, Côte d’Ivoire and Canada so far, will create decentralized financial systems (DFS)...
Togo’s power utility, CEET, has launched a tender to rehabilitate and improve its low-voltage and medium voltage distribution networks. The tender will close on December 13, 2018.
Related works are grouped into three distinct lots valued at $638,768 (about CFA366 million). They fall under the Energy Sector Investment and Reform Program (PRISET) which received a $35 million funding...
Togo’s government will order a study on the management of Kara’s new market. This will fall under the Project to Support Reconstruction of Markets and Sellers of Kara and Lomé (PARMCO) which is financed, through a loan and a grant, by the African Development Bank (AfDB).
The study aims to improve the market management and involves a review of how the old market was managed, suggesting...
On November 5, 2018, Millennium Challenge Corporation (MCC) produced its yearly assessment of performances of countries rivaling to benefit from its investment programs for developing economies.
The report looks at three indicators namely good governance, economic freedom and human capital investment. This edition, the sixteenth, analyzed performances of 80 countries, including Togo. The...
Burkinabe banking group Coris Bank International (CBI), also active in Togo, has over the first three quarters of 2018 recorded a net profit of CFA19 billion, up 13% compared to 2017. Same goes for its pre-tax profit which grew by almost 15% over the period reviewed reaching CFA21 billion.
The lender attributes the performance to “a surge of intermediation and treasury activities as well as to...
Works executed by the Autonomous Company for Road Maintenance Financing in 2017-2018 will be audited, technically and financially.
In detail, the audit will focus on road maintenance programs by the General Directorate of Public Works, training activities conducted by the Regional Centre for Road Maintenance Training (CERFER) and also procurement provision process over the period under...
In Togo, about 40km North-East of Lomé, the Vo prefecture will soon host a multipurpose agro-pastoral research and experimentation centre.
According to Togo Press which released the information, construction works for the project were just launched by Victoire Tomégah-Dogbé, minister of grassroot development, in the presence of her peer from the ministry of agriculture and husbandry,...
Beam, an investment platform created by private equity firm Bamboo, has partnered with French energy giant EDF to inject funds in Bboxx Togo, subsidiary of the eponymous British firm specialized in solar systems.
Though the transaction’s amount is yet to be disclosed, it will allow EDF to acquire 50% of Bboxx Togo, as agreed last month, and help Bboxx to expand its footprint in the West...
In four months, Togo’s agricultural financing incentive mechanism (MIFA) has provided technical support to nearly 4,500 farmers. This was disclosed by Noel Bataka, coordinator of the mechanism’s value chains, during an interview with local news website, Actu Togo.
According to the former strategic coordinator of PNIASA, since it was launched on June 25, 2018, MIFA helped provide around...
Lomé is currently hosting until November 9 a regional seminar on ways to counter tax fraud. Organized by the International Monetary Fund's Regional Technical Assistance for West Africa (AFRITAC WEST - AFW), the seminar’s theme is “Fighting tax fraud efficiently”.
The general commissioner of Togo’s Revenue Office (OTR), Kodzo Adedze, who expressed himself at the seminar’s opening put...
Since 2017, never has the number of firms created over a month been as high as that recorded in October 2018. Last month, a total of 1,281 new companies were created. A true record that confirms a dynamic entrepreneurship which was spurred by the many incentives introduced by the government, and also because of the quick recovery of the economy from a political crisis which it tried to overcome...
By 2022, Togo wants to become West Africa’s leading “blue” touristic destination.
Aiming for the country to turn into a perfect location for seaside, cultural, sport, business, ecologic and agricultural tourism, the government plans to develop structuring project and provide Togo a new touristic identity.
Hence, emulating Rwanda's ‘Visit Rwanda’ program, Togo’s authorities plan to...
In line with its new national development strategy (PND 2018-2022), Togo plans to build four hydropower dams, a coal-fired thermal plant, two solar plants and six transmission lines. The document combines both traditional and clean energy sources to provide power to 50% of the Togolese population by 2020.
The document plans various energy infrastructures which according to authorities will...
Togo’s government plans to open in Lomé an agricultural product certification lab, according to Germain Mèba, Chairman of Togo’s Chamber of Commerce and Industry (CCIT). The official revealed that the project is driven by authorities’ desire to make Made in Togo products more competitive in the region, the continent and even worldwide.
Indeed, Togo counts on a significant boom of...
It is much easier to create a firm in Togo than it is in Ghana, Burkina Faso, South Africa, Kenya, Ethiopia, Gabon, Angola, or even Seychelles.
In the 2019 Doing Business, Togo is the 11th African nation where launching a business is easy. The country made remarkable achievements, coming before most member States of the Organization for Economic Co-operation and Development (OECD) with a greater...