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On Monday, the Majorel contact centre was inaugurated in Lomé. On this occasion, the firm’s subsidiary released a press communiqué saying it intends to create 500 medium term jobs (by 2021).
So far, the joint-venture between German Bertelsmann and Moroccan Saham has about 150 employees. However, by the end of the year it expects to raise the staff to 300 employees, leveraging good human...
Last week, Togolese startup New Road Company revealed its chocolate drink, Choco Noor.
According to the firm’s Managing Director, Adoyi A. Bimon-Isso, the drink’s production aligns with Togo’s national development plan (PND 2018-2022), which is to make Made in Togo products.
Indeed, the startup uses locally grown cocoa to make the beverage. The latter, according to executives of New...
Togo should, if everything goes according to plans, raise €500 million through a Eurobond before the end of this quarter. The government indeed supposedly picked this option over a commercial loan.
Lomé plans to use these funds to clear part of its internal debt. Maturity period for the bond should exceed seven years.
According to sources close to the case, a Togolese delegation is...
Last Friday, the Mifa support project (ProMifa) was officially launched in Lomé by the minister of agriculture, Noël Bataka (photo).
ProMifa is co-financed by the International Fund for Agricultural Development (IFAD), the Togolese government, private sector and its beneficiaries themselves. A total of $35 million (XOF20.24 billion) was mobilized for the project which is to last six...
For the first quarter of this second half of 2019, Togo will seek XOF115 billion on the UMOA securities market.
The funds will be raised through six issuances of fungible treasury bonds and bills.
In effect, there will be four issuances of fungible treasury bonds and two of fungible treasury bills. The first is scheduled for July 12 and 26, August 9 and September 6. For the fungible treasury...
The Food and Agriculture Organization (FAO) will spend XOF41.4 million in Northern Togo, the Savanes region precisely, to improve food security in the area.
The institution’s representation in the country indeed signed last Friday a memorandum of understanding in this framework with the ministry of agriculture, the Red Cross, the national agency for civil protection and the Technical Support...
On July 4, 2019, Minister of finance, Sani Yaya, confirmed IMF’s recent forecast for the Togolese economy this year. This was during the second roundtable of the national credit council (CNC) in 2019.
“Looking at available data, economic growth should reach 5.1% in 2019, after standing at 4.9% in 2018 and 4.4% in 2017. This growth would be spurred by growth in all sectors of activities, the...
The Central Bank of West African States (BCEAO) organized last week the ninth day dedicated to the diffusion of Togo’s external accounts results for 2017.
According to the apex bank, the country’s balance of payments that year was in surplus, just like in 2016, with respective amounts of XOF10.113 million and XOF67.15 million.
External trade of Togo also recorded a surplus of XOF85.315...
The agricultural financing incentive mechanism (MIFA) and the African Guarantee Fund West Africa signed on July 2, 2019, in Lomé a partnership agreement to establish a fund aimed at further increasing financing to actors of the agricultural sector.
The signing took place in the presence of Minister of agriculture, Noel Koutéra Bataka. The fund is baptized “MIFA’s guarantee fund for...
WAEMU’s regional mortgage refunding fund (CRRH-UEMOA) listed exactly one week ago its eighth bond, on the regional stock market, BRVM.
The operation helped raise a total of XOF30.2 billion between 30 October 2018 and January 15, 2019. The proceeds will be used to refund outstanding housing loans provided by banks that hold shares in CRRH-UEMOA.
The bond issuance, BRVM’s managing director...
Pan-African banking group Oragroup recently raised its capital to XOF69.415 billion, thus adding XOF6.097 billion to its initial capital. The new capital, the group indicates, is divided into 69,415,031 shares with a nominal value of XOF1000 per share.
From October 29 to November 22, 2018, the Lomé-based group had proceeded to an Initial Public Offering issuing 6,097,561 new shares and selling...
Since July 1, 2019, Togo started chairing the African Union Security and Peace Council, sources close to the union revealed.
The country’s chairmanship which will close on July 31, 2019, will focus on issues related to maritime security, safety and development in Africa.
Regarding safety issues, Toba Sébadé, Representative of the African Union in Togo, will discuss conflict management and...
Togo’s minister of foreign affairs, Robert Dussey, just launched today, July 2, the High Council for the Togolese Diaspora (HCTE in French). This is a few months after he released the Togolese Diaspora Roadmap.
The new council, the official declares, “will represent the Togolese diaspora, and will serve mainly as a place for exchange and mutual trust with the government.”
Its launch marks...
Tomorrow, July 3, Orabank-Togo will launch KEAZ, its brand new digital platform.
The platform “aims at allowing all strata of the population to access the bank’s services,” in the simplest form possible.
Among main services that will be provided on KEAZ is Internet Banking for individuals and businesses. It will also be possible to access the multipurpose counter enabling cash...
Soon, Togo should have its first transport and logistics center, credible sources indicate.
The initiative falls under a project to make logistics services more competitive for trade promotion. It also aligns with the first axis of the country’s national development plan (PND) which aims at making Togo a first-class business centre in the region and a reference logistics hub.
It will help...
At the end of December last year, Togo’s public debt was XOF2,191 billion according to a recent report released by the Ministry of Finance. This is nearly 74% of the country’s GDP.
The national public debt committee which wrote the report indicates that 73% of this debt is denominated in the local currency while 27.% is in foreign currency. According to the document’s author, this...