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From September 25 to 27, 2019, Lomé will host the 3rd edition of the national forum for internal audit. For this edition, the event has been placed under the theme: “Internal audit at the service of concerned parties.”
Organized by the Institute of Internal Auditors – Togo (IIA-Togo), the forum will focus on future challenges of internal auditors, collaboration between public governance...
Compared to 2017, public debt across the West African Economic and Monetary Union (WAEMU) soared in 2018. This was disclosed at the last council of ministers of the Union.
“Despite efforts of the Union’s member States regarding public finance management, to reduce budget deficit, this figure remains high,” with a debt that increased to 48.7% in 2018, up 3.2% more than in 2017, reads an...
In 2017, bilateral trade between Togo and the US amounted to $38.7 million, according to the UN international trade database Comtrade.
In detail, the US exported to Togo about $32.5 million worth of goods while Togo exported only $6.2 million to the United States.
Regardless of the significant volume US exported to Togo, it should be noted that during the year reviewed, it was...
In 2018, Togo’s budget revenues soared by 13.4% compared to the year before. This was disclosed by the Central Bank of West African States in its latest annual report.
This is the second highest increase within the West African and Monetary Union (WAEMU). The country comes after Niger (+23.5%) and before Burkina Faso (+12.3%), the other two nations whose budget revenues grew the most over the...
Under its additional phase, the Agricultural Sector Support Project (PASA) backed 300 more breeders, providing them each XOF3.5 million. This follows an initial phase where 170 breeders benefited from the scheme’s support.
The subsidy, capped at XOF1.5 billion, aims at helping actors of this sector better sell their products.
According to the ministry of animal production, PASA, in its...
Last week in Kumasi (Ghana), three airlines, namely Africa World Airlines (AWA), Lomé-based Asky Airlines, and Ethiopian Airlines signed an interline agreement, according to Ecofin Agency.
Under the agreement, a first of a kind, passengers travelling on two or the three airlines on a single trip will no more need to have their luggage checked through to their final destination.
Moreover, the...
In Togo, deposits at microfinance institutions and decentralized financial systems grew by 16% during the first quarter of this year. This was disclosed by the Central Bank of West African States in its latest report on microfinance within the West African Economic and Monetary Union (WAEMU).
This is the second highest growth in the union, after Mali (+20%), and before Côte d’Ivoire (+15.1%),...
Phil Bryant, Mississippi Governor, “expressed the will to contribute to Togo’s development by mobilizing American investors in our agribusiness sector,” President Faure Gnassingbé tweeted August on 12.
The tweet came a while after a work meeting between the governor, the Togolese leader and some of his government members. The governor was followed by representatives of the US private...
Prosper Africa is the name of the new program developed by the Trump administration and which is set to substitute the African Growth and Opportunity Act (AGOA) by 2025. This new program aims to boost trade and investments between Africa and the US.
As a beneficiary of the AGOA, Togo will be part of the first nations to benefit from the new program. According to the Togolese communication cell,...
From 2012 to 2017, XOF92 billion was mobilized for the national strategy for grassroot development (PNDB) in Togo. The figure was disclosed last Friday at the review session for the programme chaired by the minister for grassroot development, Victoire Tomégah-Dogbé.
In detail, over the period reviewed, the monies raised were used to establish more than 300 agricultural processing units,...
In Togo, a mechanism to qualify and classify businesses, consulting agencies and laboratories operating in the construction sector could soon be adopted. Sources close to the public procurement regulator (ARMP) said the document recently got technical validation, and final validation by all actors of the sector should follow rapidly.
The mechanism aims at making the sector more professional by...
On August 9, 2019, Togo closed its third issuance, for the third quarter on the UMOA-Securities market. Subscriptions for the operation attained XOF29.5 billion, thus representing a coverage rate of 147%.
However, over the amount raised, the country captured XOF22 billion. “This operation aligns with the public securities issuance program of Togo, in line with its mid and long term debt...
Gervais Koffi Djondo, founder of Ecobank and Asky, has always spoken about Africa and his vision for entrepreneurship on the continent. It is even this love of Africa that brought him out of retirement.
Few weeks ago, Gervais Koffi Djondo, founder of Ecobank and Asky airlines came out of retirement by releasing a book titled L’Afrique d’abord (Africa first, in English). In his book which is...
Togo just adopted a bill to ensure the safe, secure and pacific use of nuclear energy and awaits parliament’s approval for its effective implementation
“Ionizing-radiation can bring about major advantages in many sectors, such as health, agriculture, industry (civil and military) and scientific research,” reads minutes from the recently held ministers’ council....
At the recent council of ministers held last Wednesday, Demba Tignokpa, minister of development planning and cooperation presented the Immediate Response Mechanism (MRI) established by the World Bank.
“This new tool will allow the World Bank to rapidly mobilize IDA funds to facilitate interventions to resolve emergencies.”
Flexible in nature, the MRI allows to draw from 5% of undisbursed...
On October 10 and 11, 2019, the first edition of the FERIN fair will be held in Lomé. Organized by Terreau Fertile, the event’s theme is “Promoting investments and facilitating trade with technology.”
Businesses, project carriers, young graduates, investors, and also representatives of the public administration will attend the fair. The latter should improve exchanges between these...