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Under its 2018-2022 national development plan which is being finalized, Togo’s government plans to establish a manufacturing hub and two industrial parks in the country. Each of the parks will have 15 intensive factories producing textile, shoes, among others, for export.
Indeed, the plan should help boost Togolese textile exports to many countries, such as the U.S (in line with AGOA).
The...
Apparently, in Togo, commercial banks are the main financial contributors to firms’ investments in secondary and tertiary sectors.
Indeed, according to the 5th edition of the macroeconomic forecast investigation (a study based on a sample of 200 firms), local banks are about to become the leading funders (both internally and externally) of Togolese companies.
30% surge
Between 2015 and 2016,...
In Togo, the agropole development project will significantly impact trade balance, decreasing trade deficit from -44% to -38%.
These agropoles will help the country boost its agricultural output and agricultural processing capacity. Locally processed products should be enough to meet local demand but they will mostly be exported.
Pilot stage for the agropoles development will be carried out in...
Togo’s head of husbandry, Dr. Komlan Batawui wishes for more entrepreneurial initiatives in this sub-sector. He said this in an interview with local TV channel TVT.
According to the official, though entrepreneurship is taking over the agricultural industry overall, it should focus more on husbandry, to boost related output.
From 2002 to 2015, output in the sector grew relatively well....
After being in Kara last month, young high school and college students, women-entrepreneurs and digital lovers are in Lomé since last Monday for the 5th edition of the Female Techcamp. The event is organized by Education Citoyenne et Changement (E2C Togo), a non-profit organization which invests in education, in Togo.
The techcamp can be followed using the hashtag « #FTCLome2018 »,...
NUTRI-TOGO, a successful enterprise, headed by Edem Bessanh, has a business model that draws more and more attention in Togo. The firm produces Champiso, a mushroom-based drink.
To let those it incubates know more about entrepreneurship, Innov’Up, an incubator of women-entrepreneurs, has invited M. Bessanh for a training session called Innov Up Coach. It will take place on May 23, 2018.
This...
Asky Airlines has announced last May 9, that it got a new plane in its fleet : a Boeing 737 Next Generation. “We are happy to announce the arrival of the new ET-AVO B737 plane, which we baptized belle pluie”, a statement released on the firm’s Facebook page reads.
The new aircraft effectively landed in Lomé on May 7, from Addis Ababa. Its first flight took place on the...
On May 15, President Faure Gnassingbé is to launch in Angoin, 62km from Lomé, a mobile banking solution, named ECO CCP.
Developed by Togo’s post company (SPT) and mobile operators, Moov and Togocel, ECO CCP is accessible everywhere across the country, via mobile.
It aims first to boost financial inclusion by improving access to digital finance, and secondly to capture non-productive and...
From May 25 to 28, a top-class meeting will be held regarding the Single African Air Transport Market (SAAT). The event will be co-organized by the African Union Commission (AUC) and the African Commission for Civil Aviation (ACCA).
The meeting will focus on implementation status of immediate measures related to the efficient operation of the market and on how to facilitate harmonization of...
Group SUNU has completed acquisition of Banque Populaire pour l’Epargne et le Crédit (BPEC).
The operation saw SUNU Investment Holding SA, specially established to be the bank holding of SUNU Group, acquire a 58.08% stake in BPEC.
Now besides SUNU, other stakeholders of BPEC are Cauris & Afric Invest Fund (19.52%), some nationals (21.19%) and others (2%).
SUNU also contibuted to capital...
Since last Wednesday, Bamako hosted the Forum for Entrepreneurship and Professional insertion of Youth (FEJIP) in WAEMU. It aims to promote innovative projects led by young entrepreneurs, in sectors like agriculture, renewable energy, digital, etc.
Bessanh Komlan Edem, creator of Champiso (a mushroom-based beverage), who has been named best entrepreneur of 2017, and Ouro Agoro Amina Azia, head...
Lomé-based association Energy Generation which promotes and supports innovation in power sector just launched Miklin, an incubation programme solely dedicated to Togolese startups.
The programme which will extend over six months will benefit 15 startups. Application is open till May 27, to any person or group living in Lomé or its surroundings.
The following link can be used to apply, or this...
To mitigate loan risk, Togo’s government has just amended the law n°2016-005 of March 14, 2016, for the regulation of credit information bureaus (CIBs) within the West African Monetary Union (WAEMU).
In a council of ministers last Tuesday, the newly amended bill aims to obtain information on loan takers to assess their credibility, provided the client gives their approval. However, article 53...
Government just launched call for proposals to finance innovative projects in agricultural sector. This falls under the Agriculture Support Project (PASA) which is part of the National Investment Programme for Agriculture, Food and Nutritional Security (PNIASAN).
PASA will be sponsored by the productive subproject competitive fund (FCSPP) which is one of the financial tool, alongside subsidies...
Total investments of Togolese firms should rise this year, after slumping in 2017. This projection was made in the 5th investigation for macroeconomic survey in 2017, carried out by the ministry of economy and finance. Sample population for the study was 200 companies, picked from OTR’s database.
Volume of investments decreased by 18.6% in 2017, as compared to 2016 despite a greater...
Telephone, power and water utilities operators, as well as mass retail professionals (“big billers” as they are called in Togo) were allowed during a ministers’ council held on May 8, 2018, to release details of their consumers’ balance.
According to the related statement from government, this is to “enable big billers to provide information on balance of water, power and phone users...