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The administration board of the Millenium Challenge Corporation (MCC) just approved its threshold program for Togo, few months after postponing this decision due to the recent political crisis that the country experienced. “I am pleased to announce the MCC Board of Directors’ approval of the Togo Threshold Program,” said Jonathan Nash, MCC's Acting CEO.
To secure this approval, Togolese...
Togolese government expects private investors to provide CFA20 billion to develop Kara’s agropole. This was disclosed April 3, 2018 by the minister of agriculture on the sidelines of the open days for exchange and promotion of this project.
This amount is about a third of what the project is to cost, knowingly 60 billion CFA.
According to various sources, the government and African...
Cost of credits from the Central Bank of West African States (BCEAO) to Togo has risen by 54 basis points from 8.2% at the end of December 2017 to 8.74% at the end of January 2018. In January, apart from the private individuals segment where this figure slumped by 22 basis points, average rates for consumer credit increased. This was disclosed in the Central Bank’s monthly report for...
Aklesso Daou, owner of Sodigaz, has decided to enter the car concession market and will deal with CHEVROLET and ISUZU brands.
The businessman trusted this new department to Diwa International which up till now was specialized in the distribution of lubricants used in the sectors of industry, transport, marine and mines, www.lfrii.com reported.
The new concessionaire opened a showroom...
As part of its poultry vaccination campaign,Togolese government, via the ministry of agriculture, husbandry and fishery, wants to purchase 35,000 vials of 100 inactivated vaccine doses with adjuvant, making a total of 3,500,000 doses.
According to a document obtained by Togo First, these vaccines fight the Newcastle disease. Financing for the project should be provided by the Agricultural Sector...
Spurred by activities at the Port of Lomé, which is West Africa’s only deep water port, Togo’s maritime connectivity index improved significantly. In fact, the nation is in Sub-Saharan Africa, the second best, after South Africa, according to United Nations Conference on Trade and Development (UNCTAD).
In Africa, Togo is fourth on the index. It comes after Morocco, Egypt and South...
From April 4 to 23, 2018, thirty Togolese civil servants will be in Changzhou, Jiangsu, China, 150km North-West of Shangai. This is to attend a seminar on cooperation to fight import-export of counterfeit items, Xinhua reports. The meeting is initiated by the Jiangsu Inspection and Quarantine Institute of Quality (JSIQ).
According to the source, the meeting should focus on pre-loading...
World’s seventh largest economy, India, plans to open in Togo an embassy by 2021, to increase its diplomatic influence. Besides Togo’s, 17 other similar institutions are planned over the period. Other countries concerned include Burkina Faso, Cameroon, Cape Verde, Chad, Congo, Djibouti, Equatorial Guinea, Eritrea, Guinea, Guinea Bissau, Liberia, Mauritania, Rwanda, Sao Tomé & Principles,...
Last Friday, public treasury ended its first quarter on the regional debt market with its best performance over the period.
Indeed, while aiming to raise CFA20 billion through its last issuance, the country was able to get 21.7 billion, thus a coverage rate of 108.59%.
The Treasury was however only able to absorb just 21.6 billion out of the proceeds and rejected 113.68 million to be exact....
Togo’s government, via its ministry of infrastructure and transports, will rehabilitate about 46km of roads across three of its economic regions. Those are Kara, Plateaux and Savanes.
The works will be financed by the Autonomous Company for Road Maintenance Funding. This is a fund whose sole purpose is to finance road maintenance in the country.
In effect, in Kara, the 41.4 km...
In Togo, tax earnings stood at CFA563.2 billion at the end of the 2017 fiscal year, according to a report on the performance of the public finances’ reform plan.
This is CFA5.3 billion less than in 2016 (568.5 billion) and more than 50 billion less than projections for 2017. Indeed, Togolese authorities had expected to collect 614 billion over the period.
The decrease is mainly attributed to...
The African Solidarity Fund, which provides guarantees for bank and institutional loans, has disbursed so far in Togo up to CFA38 billion. This was disclosed on March 30, 2018, by the ministry of finance, as the 18th administration council of this fund was about to begin.
According to the fund’s managing director, Ahmadou Abdoulaye Diallo, one of the major intervention of the institution in...
In Togo, A FabLab was recently created in the Savanna region last weekend, French radio RFI reports. This is a public facility where computer-controlled equipment and machinery are provided and used to develop projects. “The construction of this high-tech facility in the northern part of Togo was financed by internet users browsing the French search engine Lilo.org,” RFI said....
Togo wants to produce 10,000 tons of certified organic soybean during the 2018-2019 season. This was disclosed last week during a workshop organized by Jonction de Croissance Agricole du Togo (JCAT), the ministry in charge of grassroots development and the programme for the promotion of employment and youth’s insertion in profitable sectors (PAIEJ-SP).
To achieve this volume, the workshop’s...
The measure announced by the Head of State, Faure Gnassigbé, concerning the allocation of 20% public procurements to young entrepreneurs and women was followed by many others, such as
The creation of a Task Force which will determine targeted beneficiaries and markets’ typology
The creation of a single desk for young entrepreneurs/women
The creation of the following...
In Togo, 70% of cases submitted to courts and tribunals are related to land conflicts. To better tackle the latter, the ministry of justice started last Tuesday a workshop dedicated to their settlement.
Subjects discussed at the meeting revolved around five main axes, namely : recurrent legal procedures related to land ; magistrate’s obligations in regards to land conflicts ; legal...