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To calm complaints regarding the recent increase of fuel pump prices, Togo’s minister of trade, Bernadette Legzim-Balouki, explained the decision on Tuesday, on Télévision Togolaise, the country’s public TV channel.
“In Benin, super unleaded costs CFA575, gasoil CFA580, and kerosene CFA590. Prices in Ghana, which produces a little oil, are even more expensive. There, super unleaded costs...
For some days now, some information shared on social networks mainly claims that the West African Development Bank (BOAD) is hiring massively via a firm in Benin. Positions available include financial controller, teller, and analysts, among others.
In a statement released on its website, BOAD officially denied the information. The bank “has appointed no hiring firm to act in its...
Keras Resources launched this week the 10,000 tons bulk sampling testwork at the Nayega manganese project, in Northern Togo. The programme aims to assess ore ability in smelters, and obtain real-time data on operating costs and logistics involved in exporting the product to end-users.
According to a statement released by the company on Tuesday, Carriere Mines Travaux Public (CMTP), the firm...
In the columns of the n°3007 issue of French Magazine Jeune Afrique, Togo’s President, Faure Gnassingbé, discussed his government’s national development plan for the 2018-2022 period.
According to the leader, the document which aligns with UN’s 2030 agenda and the African Union’s 2063 agenda, “will help achieve more balance between economic, social and environmental sectors, a...
To back Togo’s 2018-2022 national development plan, the African Development Bank (AfDB) just granted the country three financings for its agro-food processing project (PTA-Togo).
Total amount of the facilities is CFA16.63 billion. They include two loans and a grant which will all be invested in Kara agricultural hub project.
According to the minister of economy and finances, Sani Yaya,...
Between 2010 and 2017, public investment’s contribution to Togo’s GDP tripled, rising from 2.5% to 8%. Quite an improvement considering that the figure stagnated at 2.5% between 1990 and 2009.
According to Odilia Gnassingbé, chief executive of the Autonomous Centre for Studies and Skills Building (CADERT), the new figure is above the average in Africa. This, she declared during a two-day...
In Togo, fuel pump prices were raised on August 27. The news was disclosed in a statement co-signed by Sani Yaya, Essossimna B. Legzim-Balouki and Dèdèriwè Ably-Bidamon, respectively ministers of Economy, Trade and Energy.
Under the statement, the government has set new prices as follows: Super unleaded - CFA548 per litre (against CFA498 up till Sunday); kerosene – CFA490 per litre (against...
On August 23 and 24, the various representatives of leaders of pilot-nations of the International Solar Alliance (ISA) met in Lomé.
The meeting’s purpose was the following: first, speed up development of solar projects and programs, and also to identify challenges impairing financing of electrification projects in ISA member-States. Actors present at the gathering mentioned the need to...
In line with government’s efforts to improve agriculture, the Autonomous Centre for Studies and Capacity-Building for Development (CADERT) carried out a study on “the contribution of public-private partnerships to agricultural development in Togo”. Last Friday, the document was submitted for validation.
The study aims to help the government achieve the goals it laid under the...
After recently issuing fungible treasury bonds at a coverage rate of 85% for a targeted sum of CFA20 billion, Togo will retry the operation next August 31, aiming for the same amount (through similar bonds).
This was revealed by the regional agency in support of the issuance and management of public securities in the WAEMU (UMOA-Titres) in a tender it issued at the end of the past week.
Once...
Ahead of the upcoming China-Africa Cooperation Summit, Togo’s President, Faure Essozimna Gnassingbé, gave an interview to Chinese TV CGTN on August 23. During the interview, the leader praised relations between his country and China over the past 40 years. He declared also that the coming summit will further improve these relations.
Interview Transcript
CGTN : Your excellency, we...
During H1 2018 which ended June 30, Ecobank Transnational Incorporated (ETI) recorded a net result of $168.5 million, up 37% compared to the same period in 2017.
According to the CEO of the Lomé-based Pan-African group, Ade Ayeyemi, pre-tax profit also rose by 41% last semester, standing at $213 million.
Similarly, the group’s treasury grew by about $341.03 million. This...
Subsequent to the recent adoption of the new land code, the government redefined attributions of the ministry of urbanism and housing.
The new code contains 736 articles and aims to improve land laws tackling speculation and expropriation, and solve the issue of dual registration of a single property, as well as that regarding construction in flooded areas and sell-off of rural lands.
In this...
From 2011 to 2017, the craft industry captured more than CFA8.7 billion of public investments according to data released by the ministry in charge of the sector.
Breaking the sum down, CFA3.8 billion was loaned to young artisans (CFA2.7 billion via the Accès des Jeunes aux Services Financiers-AJSEF; and CFA967 million for project development) and four billion was used to provide them with tool...
Togolese Paul-Harry Aithnard has been appointed new Managing Director of Ecobank Côte d’Ivoire and Regional Executive, UEMOA designate.
Aithnard was previously head of the group’s securities and asset management division. He joined Ecobank in 2008, as the Group’s Head of Research. Before that, he worked at BBSP Investment Advisory. He will be coming into office in November this year,...
Last week, PROMECO, a project that aims to boost local economy by supporting agricultural and agropastoral activities, was launched in Tabligbo, in the Yoto prefecture (Southern region).
The project benefits from a FCFA100 million financing (spreading over two years) provided by the Tabligbo municipality and Organisation Internationale de la Francophonie (OIF), among others. It will initially...