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Initially meant to occur last Saturday, the Takpapièni power plant was effectively commissioned on March 6, 2018. Present at the inauguration was the President himself, SEM Faure Essozimna Gnassingbé.
With a production capacity of 100 kWc, the new facility has an 8km-long Low Tension distribution network, equipped with 80 lighting poles and connection meters for users.
This way, just like...
Togolese population, both inside the country and outside, should exceed 8 million in 2018. This is according to the latest demographic projections of Ecobank’s research team released yesterday on africaficc. The latter is a new website dedicated to forecasts and analyses of economies where the pan-African bank operates.
According to data from Ecobank, given the strong economic growth that Togo...
In Togo, a firm specialized in solar power production (PES Togo) recently celebrated its 10-year anniversary in the country.
In this framework, it held open houses from February 24 to March 3, 2018. On that occasion, the firm’s Managing Director, Souleman Nana, recalled advantages of renewable energies while reiterating its commitment to their development. Amongst advantages cited, he...
From credible sources, we learnt that the government wishes to boost access to mining-related information, through the Mining Governance Development Project (PDGM).
In this framework, it plans to put in place a team to draw specifications related to the creation and commissioning of an information access system. The latter’s goal is to disseminate information on mining operations and its...
Last Friday at Kpalimé, a touristic city located 120km north-east of Lomé, the Association of Kloto’s Civil Society Groups organized a workshop to validate the first draft of the Tourism Development Plan.
The workshop’s main objective is to establish a favorable framework for the development of responsible and quality tourism in order to mitigate impacts on environment, economy and...
In Togo, value of mobile transactions more than doubled in 2016, from CFA101 billion in 2015 to CFA263 billion, report from BCEAO shows. Recalling that this figure stood at only CFA5.4 billion in 2014, this is a significant improvement mostly driven by the introduction of many innovative services in the country.
Not only did the value of these transactions soar but their volume did as well....
Togo will be steering the Abidjan-based regional academy of Marine Sciences and Technologies (ARSTM) for the next 12 months. This was decided during the 11th session of ARSTM’s board which just ended in Lomé.
Togo’s minister of transports, Ninsao Gnofam, who will head the entity will have to make sure that all member-States pay their contribution and continue ongoing projects. “Nowadays,...
Unexpectedly, the recent bond issuance of the Togolese government on the regional market did not go so well compared to those of January 26 and February 16, 2018.
Over a targeted CFA20 billion for this operation, Togo’s treasury was able to raise only CFA3.3 billion, thus a coverage rate of 16%. This is one of the market’s weakest performance since the beginning of this year.
Yet, last...
Société Générale d’Intermédiation (SGI-Togo) has started its restructuring, according to local weekly “La Nouvelle Tribune” in its release of March 1, 2018.
According to the newspapers, this operation will directly impact the firm’s management. In detail, the position for deputy managing director will be created. The initiative aims at making the firm’s management more...
Soon, a bill to promote and develop renewable energies should be passed in Togo, we learnt last Thursday during a conference organized by the Business Climate Cell. The meeting was focused on the “electricity connection” indicator of the Doing Business.
In effect, writing of the draft bill and provisions for the law started in March 2017, with the support of the ECOWAS centre for renewable...
To improve the quality of its power network, major reforms are being planned at the Togolese power utility, Compagnie Energie Electrique du Togo (CEET).
To effectively engage these reforms, the firm plans to raise $75 million (about CFA50 billion). Among the reforms which would affect customer management, there is restructuring of entities in charge of industrial customers while another...
Togo’s economy will surely change after the entry into effect, the law on electronic signature, which was voted in June 2017. Indeed, the technology would revolutionize many sectors such as trade, telecommunication and most importantly the nation’s administration services.
Government’s decision to opt for the technology falls in line with its strategy to make the country more attractive...
On this day, March 1, 2018, Benin and Togo took full control of their airspace. Switch to radar coverage took place at the airport of Lomé which will be the centre of operations.
According to the Togolese minister of Transport, Ninsao Gnonfam, “from now on, Togo and Benin, through efforts of their men and women, are able to control their air space”.
The move to radar vectoring comes as the...
Spurred by a 30.8% increase in operating income, Togo’s banking sector has recorded CFA63.4 billion of net positive results in 2016, after CFA46.7 billion of losses in 2015. This was revealed by Banque de France.
The positive performance was reflected on most of the sector’s indicators. For example, operating ratio, which compares operating expenses to net banking income, has improved from...
In a recent report entitled African Emergence Index, Togo was ranked 27th out of the continent’s 54 countries. The rankings which was put in place by African experts was reported by Ecofin Agency.
Togo scored 45.76/100 and was listed under the “potential” category. The latter regroups economies with significant resources and capacities but which are not yet able to tap into those to...
In Togo, government’s initiative to provide power to more than two million people by 2022 just reached a major milestone as Union Togolaise de Banque (UTB) signed a deal with BBOXX, UK-based firm specialized in renewable energies, to provide it $4 million (CFA2.15 billion).
In effect, local bank UTB will deliver capital in Togolese currency (CFA) to BBOXX which will provide access to...