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German firm Petrofer which specializes in industrial lubricants, oils and greases, has announced last Saturday it entered the Togolese market.In effect, it is the Togolese firm, Equilibro Distribution, which will be in charge of selling Petrofer’s products in the country.With more than 60 years of experience, the German company is the world’s number one industrial oil maker. It provides...
Togo’s economic actors are complaining about how fast taxes of regional and sub-regional integration institutions are being implemented. In fact, they denounced this to the government’s delegation presenting new provisions of the 2018 finance law.This was last Wednesday, during a meeting organized by the Employers’ association national council.The private actors ask the government to create...
During the last ministers’ council, held on Febuary 1, 2018, the government has adopted a bill on the new tax code.According to the minutes of the meeting, the need to reform the general tax code is to be attributed to a number of reasons; the main one being that Togo’s general tax code which results from a law passed on December 30, 1983 and has been amended repeatedly, has become obsolete....
As promised by President Faure Gnassingbé, the government has adopted Feb. 1, 2018, a decree stating regulatory provisions regarding the awarding of part of public procurements to youth and women. “Each contracting authority is to set aside at least 20% of procurements under its plan for public procurements to the Togolese youth (18 to 40 years old) and entrepreneur-women (no age limit)...
From CFA252,600 in 2012, one must pay CFA29,500 now to create a company in Togo. This amount is to be paid to the Centre for Companies Formalities (CFE).This was disclosed by Prime Minister Komi Selom Klassou, on the sidelines of a workshop to validate and launch the action plan for business climate’s improvement in Togo. The meeting took place last Tuesday at Sarakawa hotel, Lomé.The decrease...
Personal initiative training pays about three times more than standard business training programs. This is the result of an experiment conducted by World Bank on some micro businesses in Lomé, Togo.“The personal initiative training increased firm profits in Togo by 30%…” while those who received traditional training (accounting, marketing, and human resources management mainly) increase...
Telecommunications sector should grow by 6.5% average per annum in 2018-2020, generating $617 million of revenues by 2020, against $451 million in 2015. This is revealed by Pyramid Research in its last report focused on the telecommunication sector in Togo.According to the report, in the years to come, mobile market’s growth will be driven by a great penetration rate for mobile,...
Togo records encouraging progress in reduction of deforestation and forest degradation, according to the the World Bank.Actually, the messaging app WhatsApp has become an important asset to involve women in activities, trainings and decision-taking process related to the fight against deforestation and climate change.
“CF-REDD+ (women consortium for the deforestation and forest degradation...
Togolese Prime Minister, Komi Selom Klassou, officially launched, on Jan. 30, Cellule Climat des Affaires (CCA)’s activities and proceeded to the opening of a workshop to validate the action plan for business climate’s improvement in Togo.These activities include making proposals on actions/reforms to improve national indicators and keep improving business climate; putting in place practical...
A new pricing has been elaborated for foundation and soil studies. This has been revealed by a memorandum of the laboratoire national du bâtiment et des travaux publics (LNBTP), the public autonomous institution which controls the quality of infrastructures under construction in Togo. According to the institution, the new pricing plan is aimed at “encouraging citizens to build on good soils,...
Togolese Prime Minister, Komi Sélom Klassou, told a press conference at the business formalities center about new reforms undertaken by the government to facilitate business creation and improve business climate in the country. Facing journalists, and major ministers, the official discussed mainly some major measures initiated by the government. Amongst these: minimum capital’s liberalization...
Allianz risks barometer 2018 has been released and, for the first time, it assesses in order of importance, the risks that Togo-based companies fear for the ongoing year. According to the document, companies of any sector or size across the world, mainly fear business disruptions, cyber incidents, and natural disasters in 2018. In Togo, the top 3 risks perceived are fire and explosions (54%),...
In the 2018 edition of its yearly report, the African Economic Outlook, African Development Bank (AfDB) said Togo’s GDP should grow in the next two years.
According to the report, the economy should grow by 5% this year, a forecast that is below World Bank’s (5.3%) but exceeds last year’s growth (4.5%). The growth should be driven by abundant rains paired with appeasement of political...
According to a statement Central has been authorized to temporarily take charge of the technical management and exploitation of parking spaces in Lomé by Fongan Adegnon, president of the special delegation of Lomé. For the time being, this contractual approach to the management of parking spaces is experimental. According to the statement, the reason for outsourcing the management of these...
WAEMU wants to eradicate road overload through the adoption of its 14/2005 regulation on harmonization of standards and procedures for checking template, weight and axle load of heavy goods vehicles in its Member States. Togolese government, in order to assess real impact of road overload, will carry out an impact assessment as of March 2018 over 6 months, with AfDB’s financial support. The...
As of this year 2018, Togo economy will start benefiting from the numerous reforms initiated by the government. According to the African development bank (AfDB), the reforms initiated to improve the business climate and support the private sector, the incentives measures for transfer of ownership rights notably, should help boost private investments in 2018 and 2019. These private investments...