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On Thursday January 17, 2019, the Higher Authority for the Prevention and Fight against Corruption and Related Offences (HAPLUCIA) organized an anti-corruption sensitization campaign targeting Togolese private sector actors.
The campaign whose theme was “Contribution of citizens in the fight against corruption and related offences”, aimed at reaffirming Togo’s zero tolerance policy in...
Togo’s government has under the new tax regime, effective since January 1, 2019, raised taxes on some products like alcoholic drinks and tobacco products.
In detail, the new general tax code stipulates that excise duty on alcoholic drinks is 50%. This is 15% more than the tax imposed the year before.
Similarly, tax on tobacco products has been increased to 40%, up 5% compared to...
In Togo, the pineapple sector just received from the European Union a support facility of about CFA4 billion.
The financing is provided in the framework of a project to boost the pineapple industry’s competitiveness. The latter, which is co-financed by the European Fund for Development (EDF) and the German cooperation, was launched this Thursday at Afrik Excel, a pineapple-processing facility...
Togo’s “GDP growth should reach 5% in 2019 and 5.3% in 2020, given that the ongoing political crisis is solved and public and private investments improve”, says the African Development Bank (AfDB) in its 2019 Africa economic outlook report, released January 17.
Regarding the crisis mentioned by the report, it began mid-2017 opposing the actual government by the main opposition coalition...
In Togo, companies that pay value added tax (VAT) must from now on pay a single 18% tax rate. This was disclosed by Ahmed Esso-Wavana Adoyi, Tax commissioner at the Tax Revenue Office (OTR).
The new measure was set under the new tax regime, in effect since Jan 1.
“We have been scolded by the WAEMU. Now, it is either the 18% or nothing,” claimed the commissioner.
As for VAT loans, an...
Two weeks after a mitigated first bond issuance on the UMOA securities market, Togo announces for January 25, 2019, a second issuance of fungible treasury bonds on this market.
For the upcoming operation, the country has a target of CFA20 billion.
According to the UMOA-securities regional agency, nominal value for each security that will be issued under the operation is CFA10,000, with a...
Recently, seven Togolese NGOs received around CFA145 million from the UNDP, under the Global Environment Facility’s Microfinance Program (PMF/FEM).
With this funding, the PNUD invested €2.3 million or CFA1.5 billion in environmental protection in Togo, over 10 years.
Projects backed by the institution cover the preservation of mountain ecosystems, preserving community forests,...
On Tuesday, January 15, 2019, Germain Essohouna Méba was re-elected as the head of the chamber of commerce and industry of Togo (CCIT).
His re-election happens at a time the private sector is expected to play a major role in the development of the national development plan (PND).
During his first mandate, the private sector’s activity grew with for example its participation in the Business...
Since last Tuesday, various national clean power experts gathered for a four-day workshop on the elaboration and development of climate change resilient projects with low greenhouse gas emission. The workshop’s goal is to improve Togo’s eligibility for the Green Climate Fund.
It is the first of many that will be organized in all 15 ECOWAS States, to ease their access to the Green Climate...
Judicial officers, lawyers and bailiffs notably, now have the possibility to initiate online procedures with commercial chambers via Forsetti commerciale, the commercial platform developed by Pero Groupe, a software development firm.
An information meeting was hosted on January 11, 2019, at Maison de l’Avocat. It was initiated by the national programme for justice modernization (Programme...
In Togo, the government should soon start a biometric census of the population, under its e-ID Togo project.
“The project is at the pre-launch stage. Preliminary studies have been completed. The firm that will carry out the project is almost selected and its development strategy is defined by authorities”. This was revealed to Togo First by Kanka-Malik Natchaba, who heads the coordination of...
BBOXX just got a $31 million financing from Africa Infrastructure Investment Managers (AIIM).
These monies will allow the British group to set up two million solar units by 2022, thus providing electricity to more than 10 million people in Africa, including Togo through the CIZO project.
According to Mansoor Hamayun (photo), CEO and Co-founder of BBOXX, the financing agreement “shows the...
On Monday, a four-day workshop on result-oriented management was started in Kpalimé by the ministry of economy and finances. This session trains the staff of the national directorate of financial control.
It falls under the Project to support and mobilize resources and boost institutional capacities (PAMOCI).
In detail, the financial controllers will be taught about new public management...
In Togo, firms paying the Single Professional Tax (TPU in French) are exempted from paying this tax in their first two years of activity. This was revealed last Monday by the tax commissioner himself, Ahmed Esso-Wavana Adoyi.
Exemption period in 2018 was only a year but it has been extended in line with incentives initiated by Lomé to cut charges paid by young entrepreneurs when starting...
Lomé’s first moto-taxi reservation service, Gozem, just partnered with Total’s subsidiary in Togo to teach drivers in the Togolese capital (taxis and bike drivers) about eco-responsibility and how to better utilize their vehicles.
“Through this partnership, Total and Gozem want to inform drivers about the importance of adopting simple, yet effective, habits, thus improving the efficiency...
Once completed, the $15 million Dapaong solar power plant will provide clean energy to about 700,000 households and small companies in Togo.
Financed by the Abu Dhabi fund for development, the project is aimed at "reducing poverty, increasing income generating activities and suppling energy to health and education service providers"
According to Adnan Z. Amin (photo), outgoing...