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Yesterday, Togo’s minister of agriculture, Ouro-Koura Agadazi, officially launched in Lomé a project to improve the system for phytosanitary control and certification of fruits and vegetables in the country.
Valued at CFA478 million, this project boosts existing regulatory and institutional framework related to phytosanitary control and certification of fruits and vegetables in Togo, and aims...
In Togo, under phase 3 of its development, the Lomé Urban Environment Project will rehabilitate and valorize the old landfill site of Agoè-Nyivé, in the periphery of the capital. According to a document released by the project’s carrier, a special delegation of Lomé's township, projected works will cost €6.9 million.
Overall, these will focus on ensuring environmental preservation,...
“In line with a tax relief measure,” Togo’s revenue office (OTR) will “offer special conditions at the end of this year”. This, the institution disclosed in a statement published last week.
In effect, OTR will allow reduction of up to 45% of customs value, in some cases, for used cars and clearance of goods.
This offer will be valid until December 31, 2018. Through this promotional...
Togo : PAEIJ-SP to train hundreds of youths in agricultural entrepreneurship and business management
In Togo, the program which aims to boost youth employment and insertion in profitable sectors (PAEIJ-SP) plans to train 350 new entrepreneurs in business management and 250 others in agricultural entrepreneurship and business plan development.
The ministry in charge of the program plans through this training to spark in young people, the desire to take care of themselves via agricultural...
CRRH just issued a CFA30 billion bond to refinance housing loans provided by its shareholder banks in WAEMU countries.
Valid until November 20, 2018, the bond, the eighth issued by CRRH-UEMOA, is divided into two tranches : “CRRH-UEMOA 5.95% 2018-2030”, valued at CFA25 billion, with a yearly interest rate of 5.95% and 12-year maturity period ; and the second, “CRRH-UEMOA 6.05%...
In 2017, cotton exports generated CFA57.9 billion, their highest level since 2012. This represents a 27% increase compared to the previous year.
It is mainly attributed to a rise in global prices paired with a surge in exported volumes. In detail, while prices grew 9% over the period reviewed, Togo exported 47,900 tons of cotton last year, thus 11 tons more than in 2016, according to data...
On November 19, 2018, Togo’s national statistics, economic and demographic institute (INSEED) will complete a survey, started last October 18, on living standards of households that benefit from the money transfer program launched by the ministry of grassroot development in 37 selected prefectures.
The survey falls under the Social Nets and Basic Services Project (FSB) launched by the National...
Last Friday, Togo’s parliament adopted a new general tax code. The new regulation replaces a 25-year old one which has been amended multiple times over the years, as new issues emerged, both in the country and worldwide.
Number of taxes imposed slightly reduced
The new code suppresses some taxes which used to make things harder for firms, harmonizes collection with neighboring countries, and...
Togolese entrepreneur Bemah Gado was selected as one of 35 leaders impacting the Francophone environment. The youth, founder of Green Industry Plast Togo, received the related award, under the Environment category, last week in Abidjan.
With his firm which thrives to preserve the environment, the Togolese was the only one selected and rewarded under the category.
Gado’s company recycles...
Across the West African Economic and Monetary Union (WAEMU), Togo and Senegal are the countries that diversified their exports the most in 2016. This was disclosed in BCEO’s latest report on external trade.
“Looking at the diversification index for every country of the Union, the report shows…a greater improvement in Senegal and Togo than in the other countries,” the report released last...
In 2017, the value of goods exported by Togo fell by CF112 billion after rising over the two previous consecutive years.
From CFA644.1 billion in 2016, exports value, excluding transportation, insurance and duty fees, slumped to CFA532.1 billion (-14%) in 2016.
The decrease was spurred by lower re-exportations (-81%) of phosphate (-17.5%), chemical products, clinker and cement, cocoa products,...
During the ministers council held November 8, 2018, President Faure Gnassingbé urged his administration to maintain its dynamic reforms to pass the 100th rank of the Doing Business. This is as the country, in this year’s edition of the global ranking, saw its ranking improve (from 156th last year to 137th).
In the long term, the country aims to have one of the best business environments, if...
Last Tuesday, Paykap, mobile money transfer and e-payment solution behind Fricacoin, Africa’s first cryptocurrency, signed various partnership agreements with some ten local microfinance institutions, thus entering the Togolese market.
Under the agreements, the fintech which operates only in Cameroon, Côte d’Ivoire and Canada so far, will create decentralized financial systems (DFS)...
Togo’s power utility, CEET, has launched a tender to rehabilitate and improve its low-voltage and medium voltage distribution networks. The tender will close on December 13, 2018.
Related works are grouped into three distinct lots valued at $638,768 (about CFA366 million). They fall under the Energy Sector Investment and Reform Program (PRISET) which received a $35 million funding...
Togo’s government will order a study on the management of Kara’s new market. This will fall under the Project to Support Reconstruction of Markets and Sellers of Kara and Lomé (PARMCO) which is financed, through a loan and a grant, by the African Development Bank (AfDB).
The study aims to improve the market management and involves a review of how the old market was managed, suggesting...
On November 5, 2018, Millennium Challenge Corporation (MCC) produced its yearly assessment of performances of countries rivaling to benefit from its investment programs for developing economies.
The report looks at three indicators namely good governance, economic freedom and human capital investment. This edition, the sixteenth, analyzed performances of 80 countries, including Togo. The...