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The Global Environment Facility (GEF) plans to spend in Togo about CFA614 million, over the next two years, on the project to boost resiliency of coastal populations against climate change.
Announced on January 17, 2019, this project is carried out by the Togolese division of the World Food Program (WFP), and aims to subsequently slow the sea’s progression. To do so, coastal people,...
On Jan 21, 2019, Togo’s revenue office (OTR) will receive the first batch of its special customs intervention unit (USID).
The new task force’s creation aims at improving operational capacities of Togo’s customs services. This first batch regroups 33 civil servants. They followed a nine-week training during which they were taught combat skills, close protection, escorting, and goods...
The West African Development Bank (BOAD) has committed to support the Agricultural Incentive Financing Mechanism (MIFA). The news was disclosed by MIFA’s deputy coordinator for the pilot phase, Aristide Agbossoumonde.
On January 21, 2019, MIFA’s coordination team was at the BOAD’s headquarters to proceed to the project’s presentation. The mechanism aims to boost farmers’ access to bank...
Kya Energy, local firm specialized in producing solar-powered generators, will build five solar academies across Togo. The firm recently secured the related contract.
This project falls under the CIZO, an electrification program funded by the African Development Bank (AfDB) and steered by the Togolese Agency for Rural Electrification and Renewable Energies (AT2ER).
Leveraging its substantial...
In Togo, 25.61% of newly registered firms at the center for business formalities (CFE) last year are owned by women. The number is 2,701 businesses out of 10,545 businesses registered overall.
According to studies from the World Bank on a sample population of 1,500 micro-enterprises in Lomé, it appears that more women who are getting more involved in the private sector are performing...
South Korea will technically and financially support the Kara agopole project (414km North of Lomé). A financing agreement was signed in this framework last Friday, by Sani Yaya, minister of economy and finances, and Tchang Dong-Hee, president of South Korean foundation Saemaul Undong, under the Togo agrofood processing project (PTA-Togo).
Under the deal, the foundation will help boost...
Soon, the mushroom-based drinks made by Togolese entrepreneur Edem Bessanh will be sold in Canada.
We have signed a contract with businessmen and under the deal, our firm, Champiso, will soon be represented as a franchise in Canada, Bessanh told Togo First in an interview.
According to the entrepreneur, detox products are very much appreciated in developed countries, due to their medicinal...
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...