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Internet Service Provider (ISP) Téolis says it now covers 80% of Grand Lomé and its surroundings.
In detail, the firm, which provides internet to homes, startups and SMEs, covers three main zones of Lomé and its periphery. The first zone goes from Wuiti to Ablogamé. The second goes from Ablogamé to Zopomahé and the last from Adidolokpo to Bernard Copé.
Téolis, which launched the service...
Instead of €500 million as announced by President Gnassingbé in London recently, the Eurobond that Togo plans on soon issuing will aim at raising €397 million.
For this operation, Lomé’s advisor is the French business bank Lazard. The Eurobond which was approved by the International Monetary Fund (IMF) will be guaranteed by the World Bank and Africa Trade Insurance.
Proceeds...
Transportation startup Gozem recently entered the Beninese market, providing tricycles in Cotonou and Lomé.
This marks the firm’s first step towards its African expansion.
While launching the new service, Gozem’s founder, Emeka Ajene, said: “By launching this service, what we provide our customers across the region are safe options at affordable rates for all occasions.”
Séna...
Togolese Minister of Agriculture, Noël Koutera, and Hussain Jasim Al Nowais, President of the Khalifa Fund for Business Growth, just signed in Lomé an agreement to boost agriculture in Togo.
The $15 million agreement is aimed at backing young agricultural entrepreneurs, SMEs and SMIs. “This deal will serve to put in place a financing line for MIFA and help fund very small and medium...
India has provided Togo a million dollars to preserve biodiversity in the Fazao-Malfakassa national park. The project launched yesterday, July 15, will be carried out by UNESCO, revealed the institution’s representative in Togo, Damien Mama.
In effect, the new project will foster a better management of protected areas and this will involve various parties, including surrounding communities. It...
Next October 3 and 4, Lomé will host West Africa’s first investment forum, “Invest in West Africa.” The event aims at finding a solution to private sector’s difficulty in accessing financing in the region.
Also, according to Idrissa Nassa, President of Coris Group which is sponsoring the forum, besides “facilitating the financing of SMEs and SMIs with a high potential, boosting...
Vivendi’s Togolese subsidiary, GVA-Togo, just launched a new service called “Start”. This is a broadband offer which costs CFA15,000, half what the company’s first offer, CanalBox, cost.
The new offer which falls under the Fiber to the Home project aims at making broadband accessible to all.
“With our Start offer, many Togolese households can enjoy broadband via fiber optics, for only...
In Togo, a new guarantee fund of XOF100 million has been put in place by various banks for local SMEs and SMIs. The monies will help “business operators who struggle secure public procurements,” according to a senior official from the National Chamber of Commerce and Industry (CCIT) which put in place the fund.
Businesses interested in benefiting from the fund must first register on a...
Moody’s, just after S&P, delivered its first ratings for Togo. The ratings agency indeed gave the country a B3 rating with stable outlook, while S&P gave it a B rating.
The ratings come as Togo plans this quarter to issue a Eurobond seeking €500 million. The move was comforted by successful Eurobonds issued recently by some neighboring nations.
Monies raised through the...
Togo will over the next 10 years clear all its domestic arrears, in line with its medium-term debt strategy. This amounts to XOF225.5 billion which is 10.3% of the country’s public debt.
Lomé plans to pay this year XOF35.4 billion, after having paid more than XOF50 billion in 2017 and XOF65 billion in 2018. This is good news for the private sector which is expected to contribute 65% of the...
In Togo, the Economic Governance Support Project (PAGE) goes in line with the expectations of the World Bank and the European Union (EU) which finances it.
Hawa Cissé Wagué, representative resident of the World Bank in Togo said she is satisfied with the project in an interview with Erick Kaglan, Head of Communications at World Bank Togo. She declared: “I am very satisfied with progress made...
It is a great start for Togo on the regional financial market in this third quarter. The country’s public treasury indeed recently raised XOF43 billion via a three-year bond issuance. This represents a coverage rate of 215% and consolidates the country’s performances on this market since the beginning of 2019.
However, the treasury will only cash 110% of the auctioned amount, thus XOF22...
Most (57%) Togolese believe corruption has increased over the past 12 months in the country. This was revealed in the latest corruption perception index published by German NGO, Transparency International, on July 11, 2019.
Still according to the report, 32% of the population claim they had to pay bribes to get administrative documents. Also, while 68% of the surveyed population said...
Togo’s water utility company, Togolaise des Eaux or TDE, has adopted Mobile Money as a payment solution to enable its customers pay their bills with more ease.
Besides TMoney and Flooz which offer the service, the utility also partnered with Ecobank with the same goal. TDE customers can thus pay bills via Ecobank Mobile.
By choosing these solutions, TDE joins others such as Canal + and the...
From October 25 to November 3, 2019, Lomé will host the International Craftsmanship Fair of Togo (Miato).
The fair was officially launched on July 12, by the minister of craftsmanship, Victoire Tomégah-Dogbé.
Organized by the ministry of craftsmanship and regional employment chambers, the fair will host exchanges, exhibitions, and stands. “It aims at promoting the creativity of Togolese...
Togolese authorities have issued a decree forbidding the import, sale and use of bromate all over the country. This decision follows an alert given by the local development and food organization (OADEL) warning that the compound, which is often used by bakeries, has been linked to cancer.
Hence, any person found guilty of infringing the new decree is liable to a fine ranging between XOF10,000...